why an annual business plan competition?
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The Hormel Business Plan Competition is an annual event intended to inspire and encourage entrepreneurship in the McCook region. Spearheaded by the Hormel Family Foundation, it enjoys generous support from McCook Community Hospital, and McCook Community Development Companty, comprised of AmFirst Bank, McCook National Bank, and Wells Fargo.
The Hormel Business Plan Competition is different from many other business plan competitions in the sense that the prize is not a simple cash award, but an actual investment by which the Hormel Family Foundation becomes a shareholder in the winning business. From our perspective, there could be no better way for us to pledge our long-term support and commitment to the competition winner.
The competition winner will benefit from this relationship in a variety of ways. In addition to the $25,000 investment, the winner will receive business, legal and advertising services valued at $10,000. Thanks to the public interest in the Hormel Business Plan Competition, the winning business will receive extensive media coverage, something that would normally come take years to achieve, and would come at significant cost.
Last, but not least, the winner will learn one of the most important and valuable lessons in any business setting: corporate governance and shareholder responsibility. No matter how successful you are, if you want your business to grow, you are going to need the support of people around you. Earning a reputation as a responsible and professional partner is by far the best thing you can do for your business. |
the 2008 business plan competition
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The 2008 Hormel Business Plan Competition will take place on June 6th at the Hormel Business & Technology Center at the McCook Communty College campus. The foundation is not yet receiving submissions, but we strongly encourage those interested in participating to begin working on their business plans as soon as possible, and to check back frequently for competition updates. Click here to learn about the rules and guidelines. If you would like to be notified when foundation is ready to receive submissions, enter your e-mail address below. |
the 2007 business plan competition
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On June 15th, the Hormel Family Foundation kicked off its first Hormel Business Plan Competiton ever, and the response was phenomenal. We were floored by the amount of support from the business community, and impressed by the high quality of the business plans submitted. |
After careful deliberation by the judges (it wasn't easy!), the choice fell upon Cody Dame and Tanner Lytle, two young McCook natives proposing to create a gaming store in McCook. Since walking away with the victory, Cody and Tanner have been busy. Their brainchild, Game On, has already opened a retail ocation at 208 West 1st Street in McCook. The store sells both new an pre-owmed games, as well as consoles and other gaming accessories. Game On also serves as a hang-out for gaming aficionados to meet, partcipate in tournaments, try new games and trade in their old ones. Recently, Cody and Tanner unveiled Game On's online presence: www.gameongames.com. | |
And the talent didn't stop there...
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Cody Dame and Tanner Lytle weren't the only contestants who managed to wow the judges. Hormel Family Foundation board member Ben Harris was so impressed with the runner-up, Marissa Michaelsen, that he decided to personally contribute $5,000 toward establishing her proposed business, a specialty candy store called Heather's Sweets.
Heather's Sweets, named after Marissa's daughter Heather, opened this summer at 316 Norris Avenue in McCook.
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The Hormel Family Foundation would like to extend a warm thank you
to the following organizations for their support of this event:
Matching Funds Contributors
Community Hospital; McCook Commmunity Development Company,
comprised of AmFirst Bank, McCook National Bank, and Wells Fargo Bank
Sponsors
Nebraska Department of Economic Development
Blackwell Sanders
High Plains Radio
McCook Daily Gazette
Rembolt Ludtke
Additional Contributors
The United States Departmentof Agriculture Rural Business Enterprise Grant
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