With over 730 Owners on board, our 800-Owner goal is in sight! Here's what this means for our timeline and the opening of your locally sourced, community owned grocery store.
GROW, FUND, BUILD.
It's the 5 to 7 year process for building a thriving food co-op and it's why 70% of food co-ops are still thriving after 5 years in business!
- GROW: We raised the number of Owners we want on board to be in a position to sign our lease from 600 to 800 Owners on purpose. We know that the more Owners we have on board when the store opens, the more likely we are to be successful.
- FUND: We also raised that Owner number to 800 to insure a speedy capital campaign where we will need to raise $1.5 million in Owner loans and preferred shares. Only a certain percentage of Owners will give us a loan (we hope you are one!) so a pool of 800 Owners is a statistically more attractive pool to draw from.
- BUILD: Once we raise the required $1.5 million we will begin construction on OUR community Owned grocery store at a location and size that will give us the best chance of success (in our case, 10,000-12,000 square feet!). We've updated our market study to reflect the rapidly changing national grocery market (view here) and are doing everything we can to insure we get the best site possible for OUR grocery store.
HERE'S WHERE WE GO FROM HERE.
FIRST, WE REACH 800 OWNERS by continuing our usual outreach methods and throwing in a few new ones like another Harvest Fun + 1 Party, PFC Trivia Night, and door-to-door flyering to name a few. At 800 Owners we will be in position to secure our site by signing a lease and when we do we will celebrate by letting our Owners know first with a big announcement party!
To reach our goal of 800 Owners and beyond, we can't do it alone. Please consider volunteering to help us meet our upcoming goals.
We're not at the finish line yet, but we're close to where it gets REALLY FAST and REALLY FUN. There's never been a more exciting time to be part of Prairie Food Co-op. Help us GROW, FUND, and BUILD our community grocery store by becoming an Owner today!