Aisha Wadud and Crystal Larson, veteran massage therapists who live in north Minneapolis, plan to move their Nura Holistic Massage & Bodywork this spring from the south side to the just-opened Northside Economic Opportunity Network (NEON) business incubator at 1011 W. Broadway Av.
The space is larger, more economical and they will get assistance on marketing and management from on-site business consultant Stephen Obayuwana.
Nura will join several other small enterprises, including a home health care firm, fashion boutique, and tax preparers , who rent varying spaces for up to $400 per month, or as little as $10 a day to drop in and use a desk, technology and support services at the north side's first collaborative workspace for fledgling businesses, consultants and "solopreneurs."
This looks like another significant development in the building-by-building commercial comeback of W. Broadway, the main commercial artery through the heart of the north side.
"We're creating an environment for young business to thrive, grow and, maybe move to their own storefront one day," said Marcus Owens, 35, the president of NEON and a veteran of TCF Bank and Target. "There is a lot of opportunity in this neighborhood, and we want people who live here today to be part of the development."
Low-cost business incubators with shared administrative services, conference rooms and technology, have proved critical to keeping down the high rate of failure among fledgling emerging businesses that often are overwhelmed by rent, slow revenue growth, lack of insightful mentors and first-time mistakes. And Owens, who served on NEON's board before becoming executive director last year, is a credible guy to lead the effort. A star athlete and North High graduate, Owens has corporate experience, lives in the neighborhood and is close to earning an MBA from the University of St. Thomas.
Owens also is fulfilling the longtime vision of Dr. John Williams, the late north side dentist and University of Minnesota football star.
The business center is located in a refurbished building owned by his family and which housed his dental practice for more than 25 years. Williams, an advocate for W. Broadway revitalization, long envisioned a such a business incubator for entrepreneurs. Williams, who died unexpectedly at 66 in 2012, was a visionary and business recruiter for the neighborhood, particularly among minority business owners.