This graphic (hand-drawn by our very own Board member and Treasurer, Jen Crone) shows 3 timeline scenarios based off of the amount of help we receive to work through various stages and hit milestones. We are currently in Stage 2B which requires us to reach 780 Owners, prep for our Capital Campaign to raise necessary funds, and secure a site. With more hands on deck, we could pursue the "Impossible Timeline" and we fully intend to strive for that. Want to help us open our store by spring of next year? Reach out to volunteer with whatever skills/talents you may be able to offer the project!
What's Next? (These ownership milestones are general guidelines to help us along the way, but our community may do things slower or more quickly than the standard).
100 Owners - Organizing Stage. Launch first Ownership campaign and begin recruiting volunteers for task groups. Hold first annual meeting and establish a Board of Directors as well as our Bylaws. Commence contract negotiations for professional and consulting services. Achieved May 8, 2017!
300 Owners - Feasibility Stage Part A. Establish a feasibility task group to begin looking at site options and financial feasibility. Conduct a co-op specific market study and develop business plan. Achieved December 18, 2017!
500 Owners - Feasibility Stage Part B. Begin site analysis, finalize business plan, and start to research supplier options and distribution networks. Achieved October 14, 2018!
650 Owners - Preconstruction Stage. Identify site options.
700 Owners - Store Design. Seek input from Owners on preferred exterior design features as well as interior design choices (which services are most desired by our Owners...parking, deli, etc). Professional interior and exterior store designers will use Owner feedback to guide the design process.
800 Owners - Site Announcement. The Board can sign a lease once we reach 800 Owners. 800 Owners demonstrates sufficient support and provides the necessary capital to move forward with confidence.
900 Owners - Launch GM Search. The Board will begin a national search for a General Manager. The General Manager will be involved in key operational decisions and oversee store operations.
1000 Owners - Capital Campaign. The Capital Campaign will raise the funds necessary to convert our site into a full-service grocery store. We will rely on a mix of bank loans, non-traditional financing, and Owner loans to fully fund start-up expenses. The most significant chunk of our revenue will be Owner loans, at about 50%. Owner loans are a fundamental method of funding for modern food co-ops. Traditional lenders require 50% Owner funding before making their loan available.
1100-1300 Owners - We OPEN!