What Happens at 800 Owners?
The build up to reach 800 owners has us all on the edge of our seats. It’s been a long run, spanning 7 years and several iterations of volunteers, Board and potential locations. But the reality is, this is only the first step towards building our first community owned grocery store.
The Beacon Location
Our Board of Directors have worked diligently to secure a location for many years. Towards the end of 2019 and the beginning of 2020, the Board entered negotiations with the Beacon on 12th St and Long Beach Blvd. To continue with the MOU, the Beacon asked us to reach 800 Owners by October of 2020.
Unfortunately, we did not meet that demand and they offered a portion of that space to another business. Reducing the size was not a viable option for a full-service grocery store for the Long Beach/Lakewood community. Currently, the Board is in negotiations with a new potential location in Parkview Village Shops on Carson & Bellflower. More information coming soon.
What happens at 800?
The 800 Owner count is a milestone worthy of celebration, but we won’t be opening the store right then. We still have to execute a Capital Campaign to raise the funds to build out the store, hire employees, purchase inventory and any other expenses that are needed to open a full-service grocery store.
There is no limit to the number of Owners a co-op can have. As community members continue to buy a share and invest in the store, the more the co-op can be of service to the community. We are at 754 Owners and counting! If you are on the fence about buying a share, don’t wait any longer. Your investment will help open the doors of our co-op sooner than later.
How can you help?
The fastest way to get more Owners is by word-of-mouth. Talk to your family, friends and neighborhoods and continue to spread awareness about cooperative economics and the benefits to our community.