Photo by Tom Jenz
Dr. Stacia Thompson
Dr. Stacia Thompson
The world struggles with major issues these days—violence, war, inflation, protests, racism, social media, conflict and anger. But for Milwaukee’s Black community residents, one of the foremost issues is how to boost business development.
Among the leading advocates of this business development is Dr. Stacia Thompson, executive director for the Sherman Phoenix Foundation. Located in the heart of the central city on 36th and Fond du Lac, the Sherman Phoenix is a state-of-the-art space for small businesses of color and a popular place to eat, shop, practice self-care or attend cultural or entrepreneurial events. A native of Racine, Thompson holds a bachelor’s degree, a masters, and a doctorate from Concordia University. She has headed the Sherman Phoenix Foundation for nearly two years.
Ironically, the birth of the Sherman Phoenix happened because of tragedy. The building had once been the BMO Harris Sherman Park bank, but it was destroyed during the 2016 civil unrest. By December 2018, the old bank building had been restored into the Sherman Phoenix and is presently home to 25 different Black-owned businesses.
Thompson refers to this transformation as “turning tragedy into triumph.” I met her inside the Sherman Phoenix complex within the background conversation of customers socializing at communal tables bordered by store fronts. Instantly sincere, she speaks quickly as if she can’t wait to tell the story of the Sherman Phoenix.
This is the stated mission of the Sherman Phoenix, and I quote, “To revitalize and uplift Milwaukee’s community of color through cultural celebration, entrepreneurship support, and wellness resources.” How are you going about that mission?
We find out the needs of our surrounding community through the services and programs we offer here. We are an entrepreneurial hub. We have 25 Black-owned businesses in our building - food vendors, service providers, wellness, and marketplace businesses. We support these owners, and not just like the traditional tenant-landlord relationship. We offer services to support entrepreneurs here and in other parts of the city. These include workshops and one to one coaching. We also host culture celebrations and live music events, and we partner with other organizations to bring other events here. For instance, we celebrate Father’s Day where fathers get pampered, and we also support community baby showers. We pride ourselves in programs that specialize in three underserved areas - mental health, physical health, and financial wellness. We even have group therapy sessions for entrepreneurs.
You recently said, “Since the Sherman Phoenix opened in 2018, we have been an economic hub for small businesses of color and known as a place where people can come to eat, shop, practice self-care, or attend a cultural or entrepreneurial-focused event.” You went on to say, “Over the last five years, our impact has been felt throughout the Milwaukee community. We serve over 100 people daily, have been home to nearly 50 businesses, and our businesses employ over 75 residents.” Seems like the Sherman Phoenix has grown into a social gathering spot for the neighborhood residents. Am I right?
It is often a social gathering space. Some people come here for coffee and conversation, but also for lunch or a business meeting. We like to say, “You can never meet a stranger inside the Sherman Phoenix. Everybody is family.”
The Sherman Phoenix is celebrating five years serving the Milwaukee community, and the BIPOC (Black, Indigenous, People of Color) business community. What does the Sherman Phoenix mean for the Black community?
We know there have been systemic barriers for Black and Brown businesses in Milwaukee for a long time. Because of our success rate here, we’ve had an impact on changing those barriers. Over these five years, we’ve been home to 49 businesses, and over 80% of them are still in business, some having grown and expanded in other parts of the city. If you look at the national demographic, only about 20% of Black businesses are still in business after 18 months. We know that our model works.
Supposing I’m an aspiring businessman who wants to open a business in the Sherman Phoenix. How do I go about that?
You start the process at our website. There is a link where you can request a tour. Our Director of Operations would conduct the tour and show you what spaces are available. Next, you go through the application process including your business plan. We offer services on how we can support your business for long term sustainability. The final stage is approval.
If I do get approval, what would be my rent and my lease obligations?
The rent varies based on the size and location of your space.
Since the founding in 2018, the Sherman Phoenix boasts a number of accomplishments, including creating a foundation to expand programming and partnerships, and also launching the Phoenix Rising Academy for entrepreneurs of color. What is the Phoenix Rising Academy? A separate nonprofit? And who benefits? Who are some of the success stories?
No, the Phoenix Rising Academy is not a separate nonprofit. Services we offer include workshops to anyone in the community on all the topics a business needs to understand. For instance, business plans, credit, profit and loss, legal issues, video editing, business framework, strategic planning, mentorship, coaching, and consulting services. Successful businesses that started here and expanded elsewhere include Honeybee Sage who now has two locations, and Lush Popcorn now located in Riverwest. TrueMan McGee and Funky Fresh whose frozen rolls have distribution in 150 grocery stores. Confectionately Yours is on MLK Drive, and CORE CommunityServices now has a building with five businesses under one roof. We are proud of helping them all get started.
If I’m a small business owner, how do I find out about the workshops that are coming up here in the future?
You will find them listed on our website. For instance, tonight we have a group of lawyers putting on a law clinic. Later this week, we have a public relations workshop. We’ve done workshops on human resources, taxes, and other pertinent topics for running a business.
The Sherman Phoenix is celebrating five years serving the Milwaukee community, and the BIPOC business community. The official five-year anniversary is Nov. 30, but on “Giving Tuesday,” Nov. 28, the Sherman Phoenix will host a free community event in its space from 4 p.m. to 8 p.m. This event will feature live music, food and prizes.
On Nov. 28, which is also “Giving Tuesday,” we will have live music and a deejay, prizes and giveaways, and celebrate the impact the Sherman Phoenix has had on the Black community.
We’ve already launched our five-year anniversary campaign. Our community partners and friends of Sherman Phoenix are doing a social media takeover. They are each taking over our Instagram page for every day in November and sharing what impact Sherman Phoenix has had on them.
The Sherman Phoenix is listed as a nonprofit “foundation.” I thought the Sherman Phoenix complex was a for-profit business. Who funds the Sherman Phoenix Foundation? I understand you are also currently involved in fundraising to improve the Sherman Phoenix.
The Sherman Phoenix Foundation started in 2020 in response to our evolving understanding of how best to serve entrepreneurial demand, particularly in a post-pandemic world. The Sherman Phoenix Marketplace is still primarily financially self-sufficient, as originally envisioned. The Foundation’s nonprofit structure allows for the mission to reach beyond the walls of the marketplace. This also gives more flexibility to Sherman Phoenix to work with our tenants when they hit periods of financial growth or need.
Do you receive donations for the Sherman Phoenix Foundation?
Absolutely. We have a capital-raising campaign going on now. Our goal is to raise two million dollars. Just like five years ago when we started. The purpose is a one-time infusion of capital that supports ongoing self-sufficiency. At this five-year mark, we are investing in expanded space to allow for more businesses, as well as some capital improvements and reserves to better support business turnover and programming. There are multiple ways anyone can contribute. Right now, we have reached completed about 25 percent of our funding goals.
