Britton Mendenhall and Maureen O'Shea are two of the leaders working to establish a food co-op in Kennett Square. They explained "A food co-op is a food store owned by members of the community it serves. Anyone can buy there, its just locally owned and community focused." The impact of that focus is a business that buys locally, whose profits are invested in the community and whose merchandise is focused on healthy eating.
The local focus has a significant economic impact on the community. Typically 80% of the merchandise is bought from local farms and purveyors, so the co-op supports open space initiatives and family farms. Wages and benefits paid are higher. The profits are reinvested in Kennett Square. That means the dollars are spent multiple times in our community, increasing our total local economic activity by 1.6 times sales.
Currently the co-op is in the planning stages. After the first 100 shareholders have paid in to the company, a formal market study will be conducted. This study will identify possible locations within the borough in a pedestrian friendly location with adequate parking, a major challenge. It will also identify likely customers and their location, and help define the weight to put into the merchandise categories to be carried. The current plan is for a fairly small footprint, perhaps four thousand square feet of space. The study will help finalize this decision too. Co-ops in the area, such Natural Foods in Hockessin and the co-op in Swarthmore, are helping with planning.
Local suppliers are fairly easy to find. Look at who is selling in our farmers markets. They would love a location that sells their produce every day in Kennett Square.
Owners pay $300 per share. The target ownership to open is 1,000 members. After a short time recruiting owners, there are over 50 now.