Earlier this spring we sent out a survey to all owners, asking for your feedback on Silverton Food Co-op owner engagement, cooperative principles and top priorities in the community. Thank you to the 145 owners who responded, your input is greatly appreciated!
We've compiled the owner survey results and we've shared some of the highlights with our SFC community, here are just a few:
I am interested in investing in the Co-op - where do I start?
A number of our owners indicated they want more information on how to contribute or invest in the owner loan campaign. Our Capital Campaign is up and running! This is the campaign that raises money to open our store. As part of our Capital Campaign to raise the $1.6 million we'll need to open our community-owned grocery store, we will raise up to $800,000 in interest bearing loans from our member-owners. We are seeking loans of $2000 and up from Co-op member-owners who have already purchased a full share of common stock. You will be hearing more about our Capital Campaign in the upcoming months as we prepare to launch a formal campaign, but you can get started today by visiting our Capital Campaign website!
ARE WE SETTING OUR SIGHTS TOO HIGH?
We heard from some of our owners some concern, related to the pandemic or otherwise, that $800K may be too lofty of a goal. All of the site preparation, hiring, product purchasing, and 10 years' of sustainable business costs money. Upfront money. Money we raise from owners and from other sources (USDA grants, banks, etc.). We need $1.5 million based on the financial projections in the pro forma to be successful in the first 10 years, $800K of which we expect to raise from co-op owners.
Why don’t we just open a smaller store?
The size of the store, combined with the trade area demographics, determines the sales potential. We are relying on a professional analysis of our market. This analysis says we have the best chance of success if we open a store with about 2,500 sq ft of sales area, ideally with room to grow (so we don't have to move). We are relying on this professional financial projection of our first 10 years of operation that is based on that market analysis.
I need more information! What is the Silverton Food Co-Op doing to improve communication with owners and the greater community?
Your Silverton Board of Directors is committed to transparency and consistent communication with our owners! Our Outreach and Marketing Committees are meeting regularly to improve how we get the word out on important updates, and listen to community needs and wants. We heard from the owner survey that most owners get Silverton Food Co-op information from the Co-op newsletter. If you haven't already, be sure to subscribe to our newsletter for monthly updates from your SFC Board and community! And don't forget to follow us on Facebook and Instagram!
I want to get more involved! How do I plug in?
The Silverton Food Co-op is gearing up to raise the funds to open our store and that takes 100% participation from all of our owners! That can be in the form of a member loan, monetary donation, or a donation of time. Every hour you volunteer you send a message that says, "I believe in the power of community and cooperation." Together, we can prepare our economy and community for a brighter future. Ready to dive in? Visit our volunteer page for more info!
Hello Everyone and Happy Spring!
I love Spring! I love the flowers, the bees, the new growth on plants, and most of all, the birds singing early in the morning. If we have to stay home at least it’s during such a beautiful season. Each beautiful day brings us closer to reopening our communities.
Speaking of normal, I sometimes wonder how this worldwide event will change our ‘normal’? What impact will this have on our local communities, businesses, farmers, and residents and how long will it take to financially recover? These are the questions I ask myself while sitting in my backyard, reveling at all the yard work I have accomplished so early in the season. My prayer is that this has given us a chance to stop, reassess, rethink the way we do things, and open back up with more creative and effective opportunities to work and play.
We have discovered the power of virtual connections, yet the isolation has also made it clear that we need human connection. Just talking with someone from sidewalk to porch is exhilarating these days. I like technology and am grateful for the IT folks that have worked diligently to keep our services working with the immediate increased stress on bandwidth. I am grateful for the downtime and virtual connections but yearn for the ‘good ole days’ of hugging my friends again.
What do you see when you look to the future? I see a food co-op store open to everyone. I see the financial and social impact that it will have on our local economy. From having consistent, living wages for our employees to continuous support of our local farmers. I see an array of local, healthy food that feeds our children and residents. I see it supporting local businesses and programs. I see it educating and giving people a place that is supportive and purposeful. I see fun and informative events that entire families can participate in. Our co-op will do all of that and more, but it takes all of us to make it happen. Anywhere from serving on the board or a committee, to donating and investing money to the opening of our store.
Our Capital Campaign is up and running! This is the campaign that raises money to open our store. You will be hearing more about it in the upcoming months as we prepare to launch a formal campaign. Please see our website for the information about making your investment now!
We are all in this together and together we can open a great store!
Silverton Food Co-op President
We asked, you answered, we're listening! Earlier this spring we sent out a survey to all owners, asking for your feedback on Silverton Food Co-op owner engagement, cooperative principles and top priorities in the community. Thank you to the 145 owners who responded, your input is greatly appreciated!
We've compiled the results from the owner survey and wanted to share the highlights with our SFC community. Next month, we'll share more about how we're addressing each area of feedback we received. And if you asked a specific question in your survey response, you should be hearing from our Board of Directors this week. Check out the owner survey highlights!