The Hub City Co-op's new logo.
Although the sites content is sparse and utilitarian at the moment, it does offer one key item many people are likely interested in: Membership forms (PDF). Granted, they’re just printable PDF files, but that’s symbolic of a huge step forward in terms of organization to get to the point where they could even offer memberships. There is also a short video explaining the co-op idea and its value linked on the site’s frontpage.
So what does it cost to join the Hub City Co-Op? $150 for an “ownership” share, which is a permanent piece of the co-op, rather than an annual fee. In addition to getting discounted prices at the store, owners will also receive shares of the yearly dividend. There’s a three-year payment plan — $50 a year — available for people with tight budgets, or who are (presumably) slightly skeptical about the project and don’t want to risk $150 before the place has even bought its first order of organic carrots.
At their recent public meeting, the Co-op announced that they’ll be needing to raise some $300,000 to cover the start-up costs, although memberships aren’t expected to be the primary source of fundraising. Then again, it would only take 2,000 people to sign-up for memberships at $150 bucks a pop to reach that goal, something quite plausible when you consider the Hub City Co-op will be the only one of its kind in this part of the state.
The form also clarifies the mission of the Co-Op, which is probably quite helpful for those who aren’t as familiar with the idea.
What is the Hub City Co-op?
- A Member-owned and democratically run business
- A community market focusing on locally grown and produced products
- A gathering place for community members
It’s definitely worth a quick look at the site if you’re interested in what they’ve been up to. I’m hoping they’ll also create some kind of in-house blog, to allow us to keep an eye on their developments and direction, and maybe even give us a peek into the building as they refit to be a grocery.
Steve Shanafelt
Using the $50 a year for three years model, it’s the same fee as a Costco membership is annually and not much more than Sam’s Club. And, if I understand correctly, once you’ve paid $150, it’s a lifetime membership, right?
Now let’s see if this community can keep it viable!
As I understand it, it’s not only a lifetime membership, but you also get a share of the profits at the end of each year. Assuming the store does well, it could actually end up paying for itself in a few years. Take that Costco!
Thank you everyone participating in this!