What does it mean to be an owner?
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The Purple Carrot Market is a startup food co-op and we are in the grocery store business; however, we follow cooperative principles. Becoming an owner means that you own the food co-op along with your fellow owners - your family, friends, and neighbors. Your initial ownership equity stake supports the Purple Carrot Market's mission and buys you a lifetime of benefits. It also supports local farmers and their families, organic farming, sustainable agriculture, community based events and development, nutrition and health education, and ecologically sound business practices. Supporting your local co-op makes a difference in your community.
Our owners are the life force behind the Purple Carrot Market! It takes a community support and your investment to start a Co-op in our community is an investment into a healthier, more vibrant future for your friends, family, and neighbors. Owners provide the working capital needed for starting up the store and future growth. The Purple Carrot Market will be accountable to its owners and the community. As an owner you are entitled to certain privileges and opportunities. Primary co-op owners elect the Board of Directors and influence store policy. Owners do not have to volunteer at the co-op to receive the benefits of ownership. One owner equity share is a household membership. All household members must live at the same address. They all share the benefits of ownership, but only the primary member gets a vote. |
We have a goal of growing 20 owners in by September 22nd! If we hit 20 owners by September 22 then each new owner will receive an entry for a prize drawing! Check back for details!
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How do I join the co-op?
Ready to join the Purple Carrot Market?
Step 1: Please print and complete our Ownership Application and mail it to the address below or hand it in to a board member.
Step 2: Submit payment by check or online.
If by check, please send by mail or deliver in-person to a board member.
Checks can be made out to The Purple Carrot Market
Mailing Address
The Purple Carrot Market
PO Box 724
Little Falls, MN 56345
If online, visit the Online Ownership Store.
If you'd prefer a hard copy of any of the above forms, please feel free to Contact Us!
Step 1: Please print and complete our Ownership Application and mail it to the address below or hand it in to a board member.
Step 2: Submit payment by check or online.
If by check, please send by mail or deliver in-person to a board member.
Checks can be made out to The Purple Carrot Market
Mailing Address
The Purple Carrot Market
PO Box 724
Little Falls, MN 56345
If online, visit the Online Ownership Store.
If you'd prefer a hard copy of any of the above forms, please feel free to Contact Us!
WHAT ARE THE BENEFITS OF OWNERSHIP?
- Shopping discounts and specials when our store opens. Some food co-ops extend their member-owner benefits to owners of other co-ops when you shop there!
- Profits from the co-op are returned to owners based on the amount of shopping you do. This is referred to as patronage refunds.
- Voting rights in our democratically run business. Vote for the Board of Directors and have a voice in our store is run! Attend our annual meeting and actively participate by running for the board or joining a committee.
- Owner-only opportunities at special events.
- Pride in being a business owner in our historic downtown!
Why Buy into Ownership?
- Participate in your co-op by voting in elections, holding office or joining a committee.
- Access member-owner specials and discounts once the store opens.
- Support local and regional farmers and producers that use sustainable growing practices.
- Improve access to fresh, healthy food.
- Keep more dollars generating the local economy.
- Experience satisfaction in being part of a community owned grocery store.
How much does an ownership cost?
An individual share (single Ownership) costs $200.
Why $200?
The Purple Carrot Market needs $1 million in capital to open a successful small co-op with approximately 4,000 square feet of space. The co-op projects that 50% ($500,000) will come from owner capital.
It is projected that:
A. 20% ($200,000) of capital will need to come from common shares.
B. 30% ($300,000) of capital will come from owner loans and/or preferred shares.
C. 50% ($500,000) of capital will come from other sources of debt.
A feasibility study projects that before opening the market, ~1,000 people will become owners
$200,000 (20% of needed capital) divided by 1,000 people is a $200 stake per owner.
Why $200?
The Purple Carrot Market needs $1 million in capital to open a successful small co-op with approximately 4,000 square feet of space. The co-op projects that 50% ($500,000) will come from owner capital.
It is projected that:
A. 20% ($200,000) of capital will need to come from common shares.
B. 30% ($300,000) of capital will come from owner loans and/or preferred shares.
C. 50% ($500,000) of capital will come from other sources of debt.
A feasibility study projects that before opening the market, ~1,000 people will become owners
$200,000 (20% of needed capital) divided by 1,000 people is a $200 stake per owner.