Richmond Food Cooperative

What does your start-up business do? The Richmond Food Co-op will be a member-owned, full service grocery store providing affordable, local, sustainable, and healthy food options. The Co-op is owned exclusively by its members, and each member holds an equal share of the business. The profit is returned to its member/owners in proportion to the […]

April 11, 2013; 4:16 PM • by RVANews staff

What does your start-up business do?

The Richmond Food Co-op will be a member-owned, full service grocery store providing affordable, local, sustainable, and healthy food options. The Co-op is owned exclusively by its members, and each member holds an equal share of the business. The profit is returned to its member/owners in proportion to the amount of groceries each member has purchased. Members generate the seed capital, form the customer base, and benefit from the profits; it is a viable community-centric enterprise. The Co-op will be open for shopping to the public, but members will receive a discount. The Co-op will also be a user-friendly store, driving community education on nutrition and healthy eating

How did your venture start?

In the true cooperative spirit, the story of the Co-op starts with a friendship. Michele Lord was a member/owner of the Park Slope Food Co-op in New York, and envisioned a food co-op in Richmond. She proposed the idea to her fellow Richmond-New York transplant, Susan Hill, who was immediately on board. After several months of planning, and two separate moves back home, the business was born. As Richmond is rich with hometown pride and appreciation for community, the Co-op is an exciting and well-received venture.

How will you use the $10,000 cash prize to help your start-up?

We are currently in the initial stage of our member drive, ultimately requiring 1,000 members to open our doors. The cash prize will help meet our immediate need for marketing materials to support the membership campaign, as well as our longer term equipment and inventory costs.

April 11, 2013 4:16 PM 0