This program is open to food businesses that are at least 51% owned by someone who belongs to one of the following categories: Black, Indigenous, Latinx, LGBTQ+, military veterans, persons with disabilities or formerly incarcerated individuals. In addition to a financial grant, Restaurant Business Development Program participants receive six months of consulting services and educational training. Applications to be a part of the next cohort are open from October 5, 2023 to January 31, 2024.
2023-2024 Restaurant Business Development Program Application
Feed the Soul Foundation is a 501(c)(3) non-profit, developed to aid marginalized professionals in the culinary industry. Funding for the Restaurant Business Development Program (RBDP) is provided by external corporations with a vested interest in the creation and sustainability of culinary businesses that are owned and operated by marginalized individuals.
The awarded grant amount for the RBDP recipients is $10,000, plus 6 months of business development consulting and training, at a value of $15,000. Awarded recipients are determined through a comprehensive review process. It is not guaranteed that all those who apply will receive the grant.
What does the Restaurant Business Development Program Include?
- A financial stipend of $10,000
- 2 months of hands on Small Business Financial education and consulting
- 1 month of Marketing & Advertising training for culinary businesses
- 3 months of business development consulting based on your identified area of need
Please note: Incomplete applications will not be reviewed.
Applications open: October 5, 2023
Application deadline: January 31, 2024
Grant notification: by April 15, 2024
Eligibility for the Feed the Soul’s RBDP includes:
1) Applicant must be a “Culinary Business“. A Culinary Business is defined as; Restaurant, Food Truck, Bakery, Bar/Lounge, Pop-up Food Stand, or Ghost/Cloud Kitchen. ALL OTHER BUSINESS WILL NOT BE CONSIDERED
2) Culinary Business must be at least 51% owned by a person (or persons) who identify as marginalized.
3) Culinary Business must be located in the United States, including Puerto Rico.
4) Culinary Business must be in operation 24 consecutive months prior to applying to the RDBP.
5) Culinary Business must have more than 4 employees.
6) Culinary Business must have an accounting software program like QuickBooks, that is active and currently being used.
7) Grant applicant or owner must be committed to attending 2 hour virtual classes with industry experts from May-August.
8) Grant applicant or owner must be committed to attending virtual and in-person meetings with consultant(s) for 4-6 hours per week for 6-8 weeks from September-November.
9) Grant applicant or owner must be willing to provide 3 years of financial statements including but not limited to; Balance Sheets, Profit & Loss/Income Statements, Taxes and General Ledgers.
10) Applications must be submitted using this electronic application. Paper applications will not be accepted.
Source: https://feedthesoulfou.org/restaurant-business-development/
