FAQs
Q: What is a food co-op and how is it different from a supermarket?
Answer: Food co-operatives (co-ops) & grocery stores look a lot alike. But co-ops are owned and controlled by their Owners and are not subject to the demands of outside stakeholders. It’s the Owners themselves who have a voice in how the business is run and what products are carried. Food co-ops are also committed to ideas of consumer education and they usually support their local communities by selling produce grown locally by family farms. Because of this, co-ops can feel more like a community hub.
Q: Do I need to be an Owner to shop at a co-op?
Answer: Everyone will be welcome and encouraged to shop at Wild Root Market; ownership is not required. However, a co-op wouldn’t exist at all without its Owners and their specific and ongoing economic participation.
Q: Why should someone “join” the co-op as an Owner?
Answer: People become Owners of co-ops for several different reasons, but high among them is because they believe in the mission of the business and the good it serves in the community. Since it is the Owners who provide the capital for the start-up and operations of the co-op, the more folks we have, the quicker we’ll have a brick and mortar store to enjoy right here in our community.
Q: What do I have to pay to become an owner?
Answer: A full equity share payment will be $200. One share entitles the holder to one vote at the annual meeting. Usually an ownership drive asks supporters to pay their full equity share, but we’re doing something a little bit differently: you may pay in $50 installments, due quarterly until the equity share is paid in full. Of course, we’ll accept full equity payments right away, too. If the project is deemed not feasible, however, the remaining installments will be cancelled and unspent monies will be returned to Owners in a proportionate manner, consistent with Wisconsin law.
Q: So, am I out the money I contributed if the project is deemed not feasible?
Answer: It’s important to say – even though it is unlikely – that unforeseen obstacles could deem our project not feasible and we would not move forward. Money that we have all contributed in the form of ownership shares that has been spent is not refundable. But, this is the beauty of the co-op structure: the financial risk is spread across ownership at every stage of development and, therefore, no one person or entity is out a substantial amount of money. In the end, it’s a small price to pay.
Q: So when and how do I submit my equity share payment and become an Owner?
Now! Simply download the Owner Submission Form, and mail it along with your payment. Since ownership recruitment literally never ends, we will need your help to recruit other Owners, to spread the word – and even, perhaps, to help other potential Owners obtain the materials if they are unable to on their own.
Q: Where is the Wild Root Market going to be located?
Answer: We’ve vetted about 20 sites around Racine which meet our real estate requirements: approximately 10,000 square feet, a loading dock, ample parking and on a bus line. We have been working with experienced co-operative consultants to include three of those sites in market and feasibility studies – the results of which will ultimately inform our decision. But no matter where the co-op is located, it’s going to be a whole lot closer than any other grocery store that carries comparable quality products and foods.
Q: When will Wild Root Market be open?
Answer: According to timelines available as references to us from the experts in the co-op development world, there are three stages of development and each one takes about 12 – 18 months. With the completion of our Founding Owner Drive in August 2011 and the first phase of the market study in October 2011, we are currently well into the second stage and are likely 12-14 months away from opening. It is important to know that many co-op efforts take 5 – 10 years to produce a store; we are way ahead of that timeframe because we are all so excited for this to happen!
Q: Why the emphasis on local, high quality foods?
Answer: In a nutshell, it’s because buying goods grown or made in your own community makes good sense for people in the community and for the local economy. It makes good sense for people because, in the case of food, it is fresher and more nutritious. It’s good for the local economy because it keeps family farms and small businesses viable and more dollars are returned directly to the community instead of going to some far away headquarters. It’s good for the environment because less fuel is needed to transport the goods to and from the production point to the store and then to your table. Also, less packaging and storage accommodations are needed when selling fresh food locally.
Q: How will the co-op affect our local farmers markets?
Answer: Co-ops are, by design, not competitive entities. Our co-op is intent on increasing the availability of and demand for high quality, locally grown or produced goods and the area farmers’ markets are already an important part of that model. As far as we’re concerned, we consider Wild Root Market and our local farmers’ markets as partners in this goal.
Q: If I’m not interested in the local food movement or shopping at this community co-op or ever being an Owner, why might I still watch and support these efforts?
Answer: Co-ops are alive and well in hundreds of communities across the US and world. They’ve been around long enough that we know the kinds of contributions co-ops can make to their communities; in fact, it’s woven into the very principles that guide its operation. A co-op in Racine will be a tax paying business as well as an employer that will commit to offering living wages to a diverse, qualified workforce representative of the public it serves.
