SBA Community Advantage Loans Explained: Eligibility, Rates, and More
Read more
Youthnique StartUP Center Detroit: A Vision Realized Through Community and Determination
Startup center for Detroit entrepreneurs funded with an SBA Community Advantage loan
Success Story
Entrepreneurship often begins with a dream, a passionate idea that pushes through the barriers of doubt and emerges as a successful business. This describes Torri Hicks’ journey in founding Youthnique StartUP Center, a Detroit-based consulting firm and startup center focused on fostering innovation and providing support to budding entrepreneurs.
Establishing Youthnique is a story of resilience, community support, and determination.
The Dream of Youthnique
Torri, a Michigan State grad, went to Atlanta for grad school with the intention of starting a career as a therapist. After school, she also began working with large corporations and nonprofits, giving her exposure to much of the work she would come to use at Youthnique.
She was approached by various management teams that recognized that she was leveraging her therapeutic expertise in a broader, more proactive context. They often had general requests for leadership programs. “So, I built up an acumen, where I was able to listen and really visualize their needs.”
As word got out, Torri was approached by more and more potential entrepreneurs that wanted to know, “How can I do that? How do I start?”
Torri had always had a passion for mental health and wellness and advocating for those in need. She began her own consulting company helping entrepreneurs start their businesses and nonprofits while also working full-time as a therapist helping teens struggling with substance use. But she quickly became burned out and had to pull away for her own mental health.
Her experience colored her perspective. She identified a unique gap in the entrepreneurial landscape – the mental health challenges many entrepreneurs face. “I wanted to create a space where entrepreneurs could find both business support and mental health resources,” she said.
Her firm would offer crucial services such as grant writing, business planning, and fund development, coupled with mental health support to alleviate the pressures faced by entrepreneurs.
Struggles, Challenges, and Coming Home
Recognizing the importance of community and collective growth, Torri aimed to help her clients expand their professional capacities and thrive in their entrepreneurial endeavors. Her vision for Youthnique was more than just a consulting firm. It was a vibrant start-up center that would act as a safe haven for developing new ideas and businesses.
While Atlanta offered a bustling environment and a plethora of opportunities, Torri found securing the necessary financing to be a significant hurdle.
Torri found that many potential lenders did not want to “put money into entrepreneurship or minority-owned ownership. Their ecosystem is already thriving with entrepreneurs. They just didn’t have to do it.”
Around the same time Torri said life was ‘lifeing,’ and she went home to Detroit to help care for an aging relative. Once there, however, she recognized that the city was rife with ideas, entrepreneurs, and a need for growth. She also recognized that her experience and expertise could make a more profound impact in her beloved hometown.
Detroit’s vibrant community and rich history inspired Torri. So, she started over, with a new vision for her Youthnique StartUP Center in Detroit.
Partnership with CDC Small Business Finance
Torri still needed financing, and she had some unique needs.
Initially, Youthnique applied to be a part of the ACTIVATE Detroit Program, which aims to achieve racial equity in small business. However, this program did not allow for tenant improvements, which were essential for Torri’s construction needs.
Enter CDC Small Business Finance and underwriter Nick Miluso. Nick, along with the Small Business team, played a pivotal role in Torri’s journey. They realized that Youthnique could be a valuable resource for exactly the people they were looking to serve.
“One of the perks of this job is hearing people’s stories,” Nick says. “Their passion is key to getting them approved.” Nick recognized Torri’s resilience despite her challenges. “Her whatever-it-takes attitude was crucial,” he noted.
Nick believed in the project. Even with a low SBA score and potential CAIVRS issues due to student loans, he and the CDC team pushed for Torri’s approval of an SBA Community Advantage Loan.
Success Through Community and Determination
The success of Youthnique was a community effort. “The resiliency in Detroit is inspiring. The entire community stepped up to make this succeed,” Nick noted. “Leaning on the community as an asset and vouching for our borrowers really goes a long way.”
Youthnique secured an SBA Community Advantage Loan of more than $102,000 from CDC Small Business Finance. Additionally, Torri received a $50,000 grant from Motor City Match. Torri was finally able to fund the buildout and design of the consulting space.
Despite closing the financing in August 2022, finding a general contractor caused additional delays, but the doors of Youthnique StartUP Center finally opened on March 6th, 2023.
The celebration was not just of a business opening its doors but of a vision being realized and a community coming together to support one of its own.
Innovative Play: Redefining Business Development
When most people think of a business consulting center, they think of conference rooms, offices, and computers with essential office programs. All of this can be found at Youthnique.
But the innovation of the center is in its mission to combine entrepreneurship with a unique focus on mental well-being. “I always just wanted to make sure that whatever I did incorporated some type of mental health component,” said Torri. “When I came back to Michigan, I did my research on mental health and what I found out is that 72% of entrepreneurs are directly or indirectly impacted by mental illness in comparison to 48% of non-entrepreneurs. That was a huge deal to me.”
Torri has purposefully designed the space to be a fun place where individuals can engage in play therapy while developing their business ideas. Visitors can relieve stress through old school video games, adult coloring books, puzzles, and other playful activities. The goal is to establish an environment that fosters creativity and youthful energy.
The center also offers an innovative think tank where sensory activities, such as kinetic sand, Play-Doh, and slime, help clients mentally release and imagine their business visions without limitations. This playful approach is not only enjoyable but also therapeutic, aiding in stress reduction and boosting creativity.
Therapeutic Approaches: Balancing Business and Well-being
Understanding the stigma attached to mental illness, especially in Michigan, Torri built a space where mental health could be addressed subtly and effectively. Through play therapy, and through one-on-ones with Torri, clients engage in activities that reduce stress and foster a safe environment for vulnerability without overtly focusing on mental health issues.
The center provides a holistic approach to entrepreneurship, offering support for both the business and the personal challenges that entrepreneurs face. “Everyone that comes to me has a story about why they started something,” said Torri. “I have one client who is bipolar and is scared to death of pitching his idea to people. So, I become a therapist at the same time helping clients start their businesses and nonprofits.”
The Future of Youthnique
Looking ahead, the Youthnique StartUP Center aims to expand its mental health support through the “Mental Marvels” program. This initiative will train individuals to educate and certify others on mental health and illness within corporations, businesses, and nonprofits.
The ultimate goal is to provide entrepreneurs with access to licensed therapists, ensuring comprehensive mental health support. This forward-thinking approach underscores the center’s commitment to fostering mental well-being alongside entrepreneurial success, making it a unique and valuable resource for the community.
Torri measures client success based on the achievement of their individual goals. She is especially enthusiastic about incremental progress, such as a retired nurse enhancing her revenue through a mobile IV hydration service. Despite aiming for $1,000 a day and currently making $700, the client’s progress is considered a success.
When asked what she thinks her approach offers over any other Startup Center for Detroit Entrepreneurs, Torri said, “We want to remain a fun place to innovate, always keeping in mind that our mission is to build thriving and scalable nonprofits and businesses.”
Torri Hicks’ story of innovation in Detroit symbolizes the very spirit of entrepreneurship coupled with the understanding that mental health and community are essential pillars of success.
Through the partnership with CDC Small Business Finance and the Detroit community’s support, the Youthnique StartUP Center is not just a business; it’s a movement towards a more inclusive, supportive, and innovative entrepreneurial landscape.
