How Community Venture Network Helps Small Businesses Pitch to Potential Communities

How Community Venture Network Helps Small Businesses Pitch to Potential Communities Main Photo

4 Oct 2024


News, Blog

Connecting Businesses with Rural Opportunities

Community Venture Network (CVN), a service offered by The Brookshire Company, is vital in linking businesses with rural communities eager to welcome expansion. According to Justin Erickson, VP of Site Selection & Economic Development at CVN, the process begins with outreach. "A misconception is that businesses exclusively seek us out and want to present at CVN. In almost all instances, it's us reaching out to companies directly based on size or industry," he explains. “We reach out to those whom we think would fit the profile of what our community members would be interested in. Some businesses are also referred to us by bankers, attorneys, accountants, consultants, etc.,” Erickson adds.  CVN aims to find businesses that can benefit from rural communities' unique opportunities while addressing common misconceptions about rural markets. Melissa Michaelis, Executive Director of Winn-Worth Betco, says,” Justin and CVN have proved to be an awesome resource. CVN is like a Shark Tank where businesses looking to expand, pitch their model to a room full of potential communities.”

Successful Partnerships: Life Floor's Expansion in South Dakota

One notable success story highlights how CVN facilitated a partnership between Life Floor, a company specializing in slip-resistant tiling, and Falcon Plastics in Madison, South Dakota. Justin Erickson recalls, "Life Floor wanted a 'Made in the USA' label but feared the high costs of moving manufacturing back from Vietnam. Madison approached them with a joint venture option that leveraged Falcon's manufacturing expertise."

Today, Life Floor conducts all of its global manufacturing in Madison through this joint venture. Falcon Plastics benefits from a profitable new business line, while Life Floor maintains control of its production process in a more cost-effective location.

Addressing Challenges and Misconceptions About Rural Expansion

Many businesses need more support to expand into rural areas due to talent availability and market size concerns. "Companies often say, 'There are 200,000 people within a 15-minute radius of our building, and you want us to go to a market with 10,000 people?'" Erickson explains. CVN helps companies realize that smaller markets may offer a more balanced solution when considering the demand and supply of talent.

Erickson emphasizes that CVN simplifies the process, offering guidance to companies unfamiliar with site selection. "The biggest thing we see is that communities assume most companies know what they want, understand the site selection, the econ-deve process (or have hired someone who does), and expect it should work like the typical, site selector-led project; this is not the case many a time. Often, it's way different as these companies are looking for guidance and assurance from the communities, keeping the process simple and having fewer 'cooks in the kitchen' and more of one point of contact from the community,” Erickson says.

Bridging the Gap Between Business and Community

Through CVN, The Brookshire Company creates meaningful connections between businesses and rural communities, fostering economic growth and long-term partnerships. CVN helps companies overcome challenges and succeed in rural America by identifying opportunities and simplifying the expansion process.

Towards the Betterment of the Winnebago & Worth Counties 

Winn-Worth Betco, a regional economic development organization, supports businesses in Winnebago and Worth Counties. By assisting with site selection, workforce recruitment and training, business startup, and expansion opportunities, Winn-Worth Betco facilitates the growth and prosperity of businesses in the region. "Whatever a business needs, we are here to help!" Contact us here for any assistance.