Newsletters: March - April 2007
Help New Leaf Market Grow
Make an Owner Loan Today
By Gretchen Hein
Just for a few moments, I invite you to use your imagination. As you walk through the doors of New Leaf Market fresh flowers and an expanded produce department greet you. There's fresh meat and fish and a new cheese cooler with many more cheeses to choose from. The deli has expanded, with more offerings in both hot and cold foods, freshly made juices and smoothies, not to mention several choices in coffee. The grab 'n go choices vie for your attention and you're not sure whether you should grab something fresh from the shelf or from the food bar. In almost every department there are more options and the shopping experience itself feels more spacious and relaxed. All this and more is about to become a reality and you can be part of making it happen.
Not long after I moved to Tallahassee, New Leaf Market made an extensive move from a problematic site on Gaines Street to our current location. There was great pride in our community of owners as the new store opened. We had a beautiful new store. It was ours and our financial support helped make it happen. Instead of stretching ourselves thin by relying solely on bank financing, we tapped into the resources of our owners to help us finance the move. We had done this once before when we bought the Gaines Street location. It's a tradition in the business world-owners collaborate to provide the financing necessary to ensure the long-term viability of their business. Inherent in the cooperative movement is this element of support and ownership; only we make it available to any who want to participate.
Owners contribute equity to and democratically control the capital and profits of the business. Profits are allocated to developing the Co-op and its services. Owners receive remaining profits of the business in proportion to their patronage of the business-Cooperative Principle #3.
Once again, feeling the need for more space, New Leaf Market's management and Board of Directors (BOD) have looked at various expansion possibilities for several years. Crystal Connection is moving back to their favorite spot at the Parkway Center and we're expanding into the space they now occupy. And, just as before, we're counting on owner support and investment to make it happen. We'll also need additional financial support, but we hope to stay within the cooperative model as much as possible.
For the past several years, the BOD retained a small portion of owner patronage so that we could be one step ahead when the expansion opportunity arrived. To really make this a successful venture, an owner loan program has been developed with assistance from those who have done this before. We share our knowledge in the cooperative market, another cooperative principle.
Neighborhood Cooperative in Carbondale, IL raised $350,000 in owner loans. Lexington in Buffalo, NY raised over $700,000 and River Valley Market in Northampton, MA raised $1 million for a store that hasn't even been built yet. The list goes on. New Leaf Market's goal is to raise $400,000 with our owner loan program.
Participation in our owner loan program will be pivotal in the success of our expansion. Details of our loan program are listed below and additional information is available at the customer service desk. Please take the time to review the program and consider lending your support to the project. It may well be one of the most significant ways you can invest in your community as well as your own personal quality of life. New Leaf Market is so much more than another health food store; we're about health and well-being, personally, locally and globally.
