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A Community Owned GroceryStore (and more!) on Phillips

Avenue is Possible

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What were asking the City to do

Retain ownership of Renaissance Shopping Center

in order to nurture a community-owned grocery

store and other community-based enterprises.

Eventually, sell the Center to a democratically

governed community group that will operate it for

the benefit of the community.

But, it all starts with the grocery store

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A Full Service CooperativeGrocery Store

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can stock the same items astraditional grocery stores.

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They have sizable dairy

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and meat departments.

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And plentiful.

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10/35With a wide variety of goods

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13/35A deli department,

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fresh bakery, made-to-order sandwiches,

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hot bar service,

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and ready-made goods

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provide quick, healthy food options.

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A co-op creates a welcoming environment

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both inside

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and out.

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Its the members of the co-op who decide:

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what types of foods,

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and services the co-op should provide.

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The grocery store is

financially viable.

Independent Market Study Analysis andFinancial Projections Show:

The store will gross about $4 million per year It will be profitable within the first year

It will be able to pay back all loans within 10 years.

It will need to capture only 5% of the current market

share of the area, which is quite doable

It will provide at least 20 good jobs.

Those over 30 hours/week include health benefits.

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Leasehold Improvements (lighting, walls etc.)

+ Equipment (refrigeration, shelving, POS system)

+ Inventory

+ Professional Fees (architects, designers)

+ Staffing Before Opening Day

+ Working Capital

--------------------------------------------------------------------

= $2.05 Million Grand Total

How much will it cost to

get it up and running?

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Where will the money come from?Community $100K Co-op memberships (1000 @ $100 each)

$300K Loans from community members (100 @ $3kavg.)

$23.5K Grassroots fundraising

Foundations $120K Grants

Government $600K Greensboro Economic Development Loan

$100K Greensboro Economic Development Grant

$290K Federal Grants (USDA, SBA, Block Grants)

Loans $315K CDFI & Cooperative Funding Sources

$200K Regional Commercial Bank

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$2.05 Million Grand Total

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We are 8 months into a process

leading to a June 2014 Opening Day

June August December January February May December March June

2012 2013 2014

Exploratory

mtg. w/

City Staff

RCC formally

established &

officers elected.

1.

Field Trip to

Company Shops

Market

Store

Opens

Financial analysis

Complete

Formal proposal

to City Council

Fundraising

Coordinator

Hired

Reach 1000

Memberships

$1.9M in funds

in hand or

committed

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Our store will create jobs and

community wealth

Our store will put $2 million dollars of wages and benefits

into THIS community over the first three years.

Each and every year, an estimated $50-$100K in profit willbe returned to THIS community (after the first year ramp

up.)

Community ownership means:

more jobs, higher wages, better prices

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Our store will create community health

Our store will stock the healthy food products THIScommunity wants at prices people can afford.

Our store will have gathering and teaching space for THIS

community.

Our store will be a welcoming, attractive and inspiring

heart ofTHIS community.

Community ownership means:

A true community renaissance

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Whos in charge? We are!

We need to:

Give input about how we want our store to operate

Show our support by buying a one-time membership

Learn more about the business

Community ownership means:

Were all responsible.

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Learn more about the

financing and operations.

Well see you on

Wednesday, March 6, 2013

at McGirt Horton Library(2509 Phillips Avenue)

at 7pm

Co-ops are democratic and transparent.

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Special thanks to

Weaver Street Market

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& Company Shops Market.

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Renaissance Community Co-op

PO Box 13531

Greensboro, NC 27415