The IDEA Hatchery is an office/retail development in the Five Points area of East Nashville, Tennessee. The Hatchery consists of 8 small start-up businesses in 8 individual buildings. Buildings which range from 168 square feet, 256 square feet, to 320 square feet. Rents range from $500-$600 per month plus pro-rate utilities based on square foot percentages.
Lease terms run one full year with no term limits.
The goal is simple:
Capture Energy, grow a business base and create upward trending; as well as create a community of personal initiative and collective responsibility.
After watching years of grand development plans falter for small retail in East Nashville, Bret and Meg MacFadyen decided to develop The IDEA Hatchery – Five Points Collaborative, to spur retail activity in the area by offering affordable space for start-ups to grow.
The idea was a hit. Before opening in 2011, they had a waiting list of entrepreneurs interested in setting up shop in the collective.
The collaborative offers plenty of visibility and walk-ability but without the expensive, long-term leases that can be especially daunting for boutique retailers.
Bil Breyer’s decision to move his gift shop Alegria to the Hatchery has paid dividends.
“It’s allowed me to keep my overhead low and increase traffic,” Breyer said. “It’s a no-brainer. It’s a numbers game.”
On top of that, the like-minded entrepreneurs benefit from being able to learn from one another and take on marketing as a collective effort. While the shop owners range in experience, they share a common goal of growing business.
“This is a family,” said Tanya Montana Coe, who along with Kim Davison, runs Goodbuy Girls, a vintage apparel store that carries a collection of used cowboy boots. “Kim and I are literally growing as business owners with the concept.”
Melita Osheowitz Snider, owner of Moss, a women’s clothing boutique, said her store would never have opened if it wasn’t for the collaborative.
“It’s an ideal way to try out a business,” she said.
The stores are not the only things drawing appeal. The concept of the hatchery caught the attention of developer Mark Sanders, who expanded the idea nearby at 1006 Fatherland St.
With the concept now tested, Sanders is confident shoppers and entrepreneurs will embrace the shops.