Bauman and Company, a 112-year-old clothing store in Mount Vernon, topped four competitors in a pitch contest held in Iowa City Monday evening. Five businesses from Main Street Iowa communities across the state competed in the final round of the Open 4 Business contest, which began in April with 17 applicants.
“These small business owners have dared to dream big at a challenging time, and that is a testament to the entrepreneurial spirit and strength of small businesses and Main Street communities across Iowa,” said Debi Durham, executive director of the Iowa Economic Development Authority (IEDA) and Iowa Finance Authority.
Bauman and Company owners Olivia and Josh Randall will receive a $20,000 grant, which they plan to use to convert the store’s basement into a full shoe department, step up marketing efforts and work with local chiropractors and physical therapists to help fit people with shoes.
Runner-up Avoca Flower Shop will receive a $10,000 grant and third-place winner Grill Works in Marion will receive a $5,000 grant. All three businesses are located within a designated Main Street district. Each semi-finalist winner also was awarded $8,000.
Bauman and Company has been a cornerstone in Mount Vernon for over 100 years. What started as a premier retail store for men’s formal clothing has since grown to include women’s and shoe departments and accessories. Bauman’s basement is also home to a community coffee club where 15 to 20 members of the community gather every morning Monday through Saturday for a casual chat. Bauman’s history makes it a truly unique historical and retail destination.
As the oldest business in Mount Vernon, a step through its doors is a step back in time as much of the building’s historic charm has been preserved, such as its beautiful quartersawn oak cabinets. The store plays a valuable role in Mount Vernon’s downtown community and is an active participant in community events. The grant will allow the business to improve its space and its marketing efforts.
After renovating its loft to triple its square footage and make more room for the women’s department, the Randall’s are looking to renovate the basement into a full shoe department complete with slat walls for display with storage behind for inventory.
With the growth of this department, the duo has stated they want to collaborate with local chiropractors and physical therapists to help fit people with shoes that not only look good but are good for their bodies. Additionally, the funding would be used to improve their marketing efforts and add more U.S. and locally made sustainable products to their inventory.
The business owners submitted applications and videos outlining their plans and had 10 minutes to pitch their ideas to the following judges: Rand Fisher of Iowa Area Development Group, Lisa Shimkat of the Iowa Small Business Development Center, and Kaitlyn Byers of Kiva Iowa.
“It was a very difficult decision,” Durham said in announcing the winner. “Every year this contest gets harder because of the caliber of the contestants.”
This is the seventh year of the Open 4 Business contest, which is open to businesses in the 55 Main Street Iowa districts across the state. The grants are administered through IEDA’s Iowa Downtown Resource Center and Main Street Iowa programs.