Frequently Asked Questions

Business Incubators nurture and support the development of entrepreneurial businesses, helping them survive and grow during the period when they are the most vulnerable, the startup phase. As a Business Incubator, Kallas & Co. provides our client companies with business support services, funding, and resources tailored specifically to these young firms for a return of equity. The goals for our Incubation program include creating jobs in our community, enhancing our community’s entrepreneurial climate, retaining businesses in a community, building or accelerating growth in a local industry, and diversifying local economies.
Well, you’ve found your resource! Kallas & Co. provides business solutions for consumer branded goods and retail companies that are not in need of incubation. We provide these resources based on flat-fee rates so you don’t have to worry about giving up equity in your company or paying an un-forecastable rate for access to these types of solutions.
First and foremost, besides an amazing unique product, every business needs to keep their operations in check, have organized accounting records, and have great people working for them. (Also, as a side note, you need a good legal partner too to make sure everything you are doing is in compliance with the law).

So what we do is help solve your workflow, accounting, and human resources needs!

Simple answer: We help you service your customers.

Long answer:
If you have a specific product and are in need of a support mechanism in warehousing, fulfilling and providing customer support to your customers, Kallas & Co. steps in to be your backbone in all of this. If you already have an ordering process but can’t keep track of all the inflow, or have a product and just don’t know where to start with logistics of getting the product in paying customer’s hands, our experts are here for you!

However, even if you have a service based retail product, such as a storefront or food based business (like a restaurant or cafe), and need administrative support to answer client questions or direct them to the appropriate location or department, we will provide the people and training necessary to help satisfy your customers!

Simple answer: “In god we trust but all others bring data”; well, we help you bring data.

Long answer:
As you may well know, keeping accounting records, forecasting, and budgeting is REALLY important. You will have no idea if your business was profitable without the numbers. We bring accounting professionals and bookkeepers together to help you organize and run the numbers. Through the assistance of technology, we will virtually acquire your receipts, categorize your expenses, reconcile your accounts, and provide you reports so that you know where your business financially stands so you have the data to drive your decisions.

Simple answer: Your company culture, and team members create your brand… keep them happy! Find the right people, educate and empower, and pay them and you will be internally healthy!

Long answer:
A business can have all the makings of a successful business plan, but the wrong team can make or break the company’s future.

If you don’t have employees or consultants, and are in need, our talent hunters will work with you to find and recruit the best people to fulfill your needs.

Further, if you do have employees, we help you retain your internal customers, by helping you create handbooks and host training modules specifically geared to educating and bringing out the best out of your team. We also will use our technological tools to develop satisfaction surveys and reviewing processes so we can continually be your partner in becoming better and better as a company and team.

Lastly, we also have the tools to run your payroll and help you maintain compliance with state and federal laws.

With us as your operational, human resources partner, we will provide you the structure you need to succeed and continue to evolve in a positive fashion as a company!

Simple answer: Without strategic planning and thorough execution, talk is cheap.

Long answer:
We help you develop the strategies and execute on the steps necessary to give your company the justice it deserves. As the leader, it is your responsibility to make sure that you are aligning and developing the infrastructure the company needs to support growth and long-term existence. At Kallas & Co., we can be utilized as your on call Chief Marketing, Chief Operations, or Chief Innovation officers by bouncing ideas, and turning to us for advice about your company or next desired steps.

We will work with you and provide you the expert, big picture advice and help you develop the plan and execution to get your branded product or retail service based business the next level of success it deserves.

When you have your operational infrastructure in place and in compliance, the business needs to be known for its product to be sold and utilized by customers in need!

A business without marketing is like a computer that has not been charged; powerful but ineffective and ultimately pointless.

Thus, we help promote your business whether it be through promotional goods, traditional and online marketing services, or getting into distributional channels for sale.

Short answer: Making sure your target market knows you exist!

Long answer:
At Kallas & Co., we want to partner with you and provide your business the exposure that is necessary to attract customers! We use traditional and online marketing strategies to attract your target market and acquire more sales.

We will help you develop your company brand, packaging, and ultimate look and feel of your business. We have the ability to create all the branding elements you need for your tangible products and manufacture the packaging with the help of our partner companies.

Further, we have developed online marketing packages that include developing a robust online social presence through website development, e-blast campaigns, and social media content creation, profile management and engagement as well as administration of online advertising campaigns.

Our goal is to will utilize the most effective marketing strategy, mixing traditional and modern marketing platforms, so that your target market knows you exist.

Short answer: If you have a product, we will partner with you to find you a buyer.

Long answer:
When you have a product based company, getting your product sold through modern means of online sales as well as traditional means of buyer stores is a huge task.

Online, you have to have an ecommerce website, or use an off-the-shelf seller’s platform that provides the tools you need to sell your product via the internet. Traditionally, you have to have connections with store buyers so that your product can be housed for the sale to that store’s shoppers. No matter which means you utilize for sales, you still need brochures, product sheets, presentations, email templates, pricing guides, and training for delivery for direct and partner channels.

Well, our mission, as your Innovative Business Solutions Partner is to help create the guides and templates you need for sales, as well as connect you with the distribution channels necessary for the sale of your product.

Depending on the type of product you have, and who the target market is, Kallas & Co. will help develop and execute the right mix of sales and distribution channels so that your product can reach the hands of your market!

Funding your business is necessary. Period. You can either self fund it to get it started or obtain external funding through banks or investors. However, we need to say that if your company is not making a profit to eventually self fund itself after being in business for over two years, your pricing model or the value added from your product or retail service based business is low and not sustainable (i.e., not good business).

However, if you need to get yourself started, or have a profitable business but need to expand your operations, money is necessary and we are here to help you! Through established partnerships all over the world, we support a marketplace that connects businesses looking to borrow, with people and other investors who want to lend. By cutting out the costs and complexity of dealing with banks, you can get an affordable loan for your business in less than two weeks. We have many different partnerships and innovative ways of getting you the funding you need to run and grow your business.

As of October 2012, there were over 1,250 incubators in the United States, up from only 12 in 1980. It is estimated that worldwide there are about 7,000 business incubators. The incubation model has been adapted to meet a variety of needs, from fostering commercialization of university technologies to increasing employment in economically distressed communities to serving as an investment vehicle.

Here at Kallas & Co, we focus specifically on Incubating and supporting branded consumer goods and retail companies. So if you have a product, or a product based storefront, we are here to help you gain all the tools you need to succeed.

Incubation programs come in many shapes and sizes and serve a variety of communities and markets:

  • Most North American business incubators (about 93 percent) are nonprofit organizations focused on economic development.
  • About 7 percent of North American incubators are for-profit entities, usually setup to obtain returns on shareholders investments.
  • 54 percent are “mixed-use,” assisting a range of early-stage companies.
  • 37 percent focus on technology businesses.
  • About 6 percent focus on service businesses, serve niche markets or assist other types of businesses.
  • 3 percent serve manufacturing firms.
  • About 47 percent of business incubators operate in urban areas, 28 percent operate in rural areas and about 25 percent operate in suburban areas.

Source: 2012 State of the Business Incubation Industry

Great question! Incubators typically provide client companies with programs, services and space for varying lengths of time based on company needs and incubator graduation policies. Most accelerators take a group of companies, or a cohort, through a specific process over a previously-defined period of time, culminating in a public pitch event or demo day. Accelerators also generally make seed-stage investments in each participating company in exchange for equity, while many incubators do not make this type of financial commitment.
A coworking space is a working environment that is shared by people who are self-employed or working for different employers. Most spaces charge monthly rental fees for desks and/or other types of office space and equipment. Sharing space and equipment helps people keep their costs low, and also allows them to work in an environment with others who have similar mindsets. Kallas & Co.’s coworking spaces share a common goal of creating environments that foster connections and creativity.

Presently, our coworking space is exclusively dedicated to companies that we are incubating. However, in the near future, we hope to expand our space so that it becomes a go-to for businesses that just want to work alongside us and other members.

Like incubators, coworking spaces create an atmosphere that fosters entrepreneurship by connecting people who are facing similar opportunities and challenges. Coworking spaces differ in that most do not provide formal programming and services, so they also do not have set goals and graduation policies for tenants, whereas incubators are typically working to bring companies from point A to point B with the goal of sending them out to survive on their own.
Research parks (sometimes called science parks or technology parks) are property-based ventures consisting of research and development facilities for technology- and science-based companies. Research parks often promote community economic development and technology transfer. They tend to be larger-scale projects than business incubators, often spanning many acres or miles. Research parks house everything from corporate, government, and university labs to big and small companies. Unlike business incubators, research parks do not offer comprehensive programs of business assistance. In addition, business incubators focus on early-stage companies.
The U.S. Small Business Administration administers the Small Business Development Center (SBDC) program to provide general business assistance to current and prospective small business owners. SBDCs (and similar programs) differ from business incubators in that they do not specifically target early-stage companies; they often serve small businesses at any stage of development. Some business incubators partner and share management with SBDCs to avoid duplicating business assistance services in a region.

Further, at Kallas & Co., our Incubation, Operational, Promotional, and Funding sources focus on companies offering branded consumer goods or retail services. With this niche of focus, we are able to provide you specific resources for your endeavors that governmental support agencies are unable to assist in because they do not have the professionals necessary. Also, the way we carry out what we do is very unique and customized based on each of our clients’ needs to create a more likely successful business outcome.

Virtual incubation is the delivery of incubation services solely through electronic means. However, the term may be used interchangeably with “affiliate program” for services delivered to clients that are not in residence in an incubator. “Virtual incubation” may also be used to denote a program that offers services to clients who are located far away from an incubator, when the program does not offer any multi-tenant space

Kallas & Co. provides Virtual Incubation Solutions to entrepreneurs in parts of the world where we do not have a physical presence. However, we do everything we can to physically meet with the companies we work with in order to fully understand who they are and how we can help them build a strong business infrastructure even if our permanent business presence is in a different country.

Maker Spaces provide materials, tools and an environment where people can create, collaborate and brainstorm ideas. Some spaces have expert advisors available to help, but often people are working with other users to solve problems and come up with innovations.
Incubator sponsors – organizations or individuals who support an incubation program financially – may serve as an incubator’s parent or host organization or may simply make financial contributions to the incubator.

  • About 32 percent of North American business incubators are sponsored by academic institutions.
  • 25 percent are sponsored by economic development organizations.
  • 16 percent are sponsored by government entities.
  • 4 percent are sponsored by other types of organizations.
  • 4 percent of business incubators are “hybrids” with more than one sponsor.
  • 4 percent are sponsored by for-profit entities.
  • 15 percent of incubators have no sponsor or host organization.
    Source: 2012 State of the Business Incubation Industry

Kallas & Co. does not have a sponsor. However, we do have varied degrees of partnerships with expert service providers, crowdfunding based funding agencies, and investors to deliver on the commitments we have with all of our incubation clients.

We help our client companies secure capital in a number of ways. Kallas & Co. helps our Incubator and Funding clients by:

  • Managing in-house and revolving loan and microloan funds.
  • Connecting companies with angel investors (high-net-worth individual investors) and investor based loaning institutions.
  • Creating impactful crowdfunding campaigns.
  • Working with companies to perfect venture capital presentations and connecting them to venture capitalists.
  • Assisting companies in applying for unconventional business funding solutions such as factoring or purchase financing.
Incubator graduates create jobs, revitalize neighborhoods and commercialize new technologies, thus strengthening local, regional and even national economies.

In 2011 alone there is an estimate that North American incubators assisted about 49,000 start-up companies that provided full-time employment for nearly 200,000 workers and generated annual revenue of almost $15 billion.
Source: 2012 State of the Business Incubation Industry

Business incubators reduce the risk of small business failures. Historically, incubators have reported that 87 percent of all firms that have graduated from their incubators are still in business.
Source: Business Incubation Works