DOWNTOWN SALEM Business plan draws few responses

Applicants must be willing and able to offer a detailed plan for business success.
By NORMAN LEIGH
VINDICATOR SALEM BUREAU
SALEM -- So far, the response has been lukewarm to a proposal seeking to attract entrepreneurs to the downtown business district.
In December, Bob Sebo, a retired corporate executive and Salem native, offered to provide financial aid to anyone armed with a solid plan for a business enterprise that stands a good chance of succeeding in the city's original commercial district.
Sebo said at the time that he believes the city's downtown has potential. In making his offer, he also cited a nostalgic desire to restore the downtown to the bustling commercial center it was when he was growing up.
Few inquiries: After Sebo publicized his offer, he asked the Salem Area Chamber of Commerce to handle inquiries, but there have been few.
Since December, two prospective business people have contacted the chamber about Sebo's offer, Margie Kampfer, the organization's executive director, said Monday. They sought information but never followed up with submitting a plan.
"I don't think it's a bad sign," Kampfer said of the little interest being shown so far in the program.
She noted that Sebo's offer contains several requirements that can prove difficult to meet.
Requirements: First of all, those wanting Sebo's help must be willing to make a significant financial investment themselves, she said.
They also must submit a business plan that includes financial projections for the proposed enterprise for its first three years.
Assembling a business plan can be a tough chore, Kampfer said. "There's a lot of nitty-gritty information that you have to spend a lot of time thinking about. You have this idea in your head. To put it down on paper isn't easy," she added.
The challenge of doing so may be too daunting for some entrepreneurs. For others with a business idea, actually committing it to paper may reveal flaws.
Keeping offer open: Despite the scarcity of interest in Sebo's offer, "we're not going to close the door" on the program, Kampfer said. Sebo was unavailable Monday to comment.
He is a founder of Paychex Inc., a national company with 6,000 employees. The Rochester, N.Y.-based enterprise provides payroll services to other businesses.