Become an Owner.
Basics Cooperative, Inc. (Basics) is seeking new owners to invest in the organization. By becoming an Owner, you are supporting a grocer who will keep your money invested in the local economy, will support local farmers and producers, and will provide the freshest, healthiest food in the Janesville community.
Basics Foods Co-op doesn't just mean you are a member -- it means that you are an owner, you have an opportunity to provide input on policies and programs and be an active participant of your food cooperative. This is Janesville's' first non-profit storefront food cooperative. Isn't it about time you had access to fresh, local, affordable food each and every day of the week while supporting the local economy?
Owner benefits include:
- Discounts on selected products throughout the store
- Bulk and case order discounts
- Discount on co-op classes and events
- Co-op newsletter
- Ability to run or vote for elected office on board of directors
Why Become an Owner?
The basis of a cooperative is a common goal -- in this case, access to healthy food -- and to be successful as a food cooperative, we require the commitment of many people in our community to support our efforts by becoming members and shopping at the store for daily food needs.
In fact, it is estimated that for a Co-op in a city the size of Janesville, 500 active member households and another 1,000 people shopping at the store regularly are needed to make it a financially viable not-for-profit business.
Becoming an Owner is critical for us to determine that there is a broad base of community support for our effort -- nothing says commitment like investment! In addition, as a non-profit storefront food cooperative, we will have access to start-up assistance dollars and grants. Funders need to see that an organization that they fund has the support of the community.
Securing owners now is an important step for Basics Foods Co-op. The ownership fee is only a small, but important part of an organization's overall revenue.
How much does ownership cost?
You can become a lifetime Owner of Basics Cooperative for $150. This is a one-time cost (not an annual fee) and represents your investment in the Co-op. If you decide you do not want to be an Owner anymore, the Co-op will refund your ownership fee (subject to some limitations in Bylaws -- see above). If you prefer not to pay the ownership fee all at once, you may pay over time, but you must pay at least $30 each year, and Basics will charge a $5 service fee each time you make a payment (after your first payment) to help defray the administrative costs. After the $150 is paid (plus any service fees) you are fully vested and there are not any more payments.
To join by mail or on a payment plan, download the Basics Cooperative Ownership Application