Owners are the lifeblood of any start-up food co-op. Not only do owners provide the working capital for the co-op, but they demonstrate community support for a locally-owned grocery store. On February 1, the Purple Carrot reached the 400 Owner Milestone!
Our current financial projections indicate that we should have at least 600 owners before we begin the "build out" process. We're over 65% of the way there! As we work on building out the store, we will continue to grow our ownership with plans to have 800+ owners by the time we open our doors.
The Finance Committee will review the cost assumptions that underlie the financial projections and work to provide the Board the best information for deciding when we begin building our store. When we do begin build out, we will be working on detailed designs and equipment needs; running an owner loan campaign; and approaching financial institutions to lend money for the construction and equipment. The Board is committed to taking the time to set our co-op up for success when we begin operations.
How can YOU help? If you're not an owner, please learn more about the Purple Carrot and make your investment NOW. If you are an owner, talk to a friend, neighbor, or co-worker about joining you and the 398 other owners in making a difference in our community. The sooner we reach the ownership level we need, the sooner we open our grocery store!