How to Start a Food Co-Op Business
The basic concept of Co-op business is the empowerment of customers, as it enables them to own, control, run this business and make best out of this venture. Normally, we see community grocery stores representing this category. Such stores make possible that members of business group get best quality product at lower price.
Apparently, it looks really pleasant and easy to start and run a co-op business but lack of experience and wisdom can make it an uphill task. There is no doubt in that its benefits are countless but you will have to cater couple of important things before going into this business.
Instructions
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1
Conduct an in-house survey:
You should start by doing some research about the prospects of this venture. Consult your close ones and then conduct a survey in the neighbourhood. Give the people around you a complete briefing on its benefits and then persuade them for co-op business. This exercise will help you in finding out whether your people are ready for such activity or not. -
2
Invite people to join hands:
If the response is encouraging then start inviting people to join hands for this venture. Make them realise how important and beneficial this co-op business will be. It is better if you can gather few professionals as they can help you in planning, marketing, finances etc. -
3
Make a team:
Next thing you should do is to hold a detailed meeting and build a team of professionals. To ensure the maximum attendance, you should notify all the potential members well in advance. Give them complete information about the objectives of this meeting.
Create an agenda and send it to everyone. As this will be a community-based business so it is necessary to make a team. Make committees like planning, marketing, finance and membership committee. This will not only engage maximum number of people but also it will relieve burden off your shoulders. -
4
Arrange investment:
Now, when you are done with all the research and planning, it is time to arrange funds for this business venture. Develop a financial system and encourage people to contribute. Tell them that they will not only get food items at competitive rates but they will make some profit as well. -
5
Decide location of store:
Your next step should be to decide the location of your store. You should keep your budget in mind while looking a suitable place. -
6
Arrange supplies:
Last but not the least, you should arrange supplies for your food co-op business. Do some research to get all the supplies at economical price.
