Raising the funds to open a co-op from owners through a Capital Campaign is a tried and true practice in the cooperative industry. In fact our friends at Oshkosh Food Co-op, who plan to open their gorgeous new store in downtown Oshkosh Wisconsin later this year, raised over $1.6 million from their owners and community members, exceeding their $1.5 million dollar goal.
Oshkosh Food Co-op began their campaign in the fall of 2019 and raised nearly $900,000 out of the gate. When the pandemic hit in early 2020, the Oshkosh community pulled together and despite the impact of the pandemic over 600 owners (nearly HALF of their 1200 owners!!!!) and community members invested $1.6 million in the Oshkosh Food Co-op through loans AND donations.
Implementing the option of making a donation is a practice I strongly recommend. It gives EVERYONE the opportunity to participate (when loans or share purchases are out of reach), it expands participation beyond owners, and it’s a one time transaction (compared to the service required for loans or preferred shares). If you want to talk more about the option of using donations in your upcoming capital campaign, please send me a note.
