Why should I join the NOFC?

The best reason to join is that we will all get a storefront. We are depending on your equity investment for our start-up capital. We have other sources of funding, but member equity is the most important. It is debt-free capital and it puts our co-op in a better position to leverage loans and grants. Our member equity goal is to have at least $150,000 before we open. At $100 a member we will need at least 1,500 members. There are 3 main advantages to becoming a member that are explained in great detail below: ownership, mission, and economic advantage.

Ownership. The best way to control your own food supply is to have ownership of your food supply. As a member of the NOFC you aren’t joining a club; you are becoming an actual owner of a business. Your membership investment isn’t a due or a fee. You are literally owning a piece of a grocery store and sharing that ownership with over 1000 other people. Your investment is equity in the NOFC and it belongs to you. In the start-up phase we will use member equity for all expenses related to opening and operating our store. After we have beeen open for 2 years, member equity may be refundable as long as it doesn’t put the co-op at financial risk.

Mission. The NOFC is driven by our mission. The mission of the NOFC is to open and operate a community-owned grocery store that:

-provides access to healthy food at a fair price

-is a center of community activity

-promotes local and regional food production

-keeps capital and jobs in our community

-practices environmental responsibility and sustainability

-reflects our unique and diverse community

By becoming a member-owner of the NOFC you are truly doing a service to your community. Opening our co-op grocery is a big part of the rebuilding and revitilization of New Orleans. Even if you don’t live in New Orleans you are supporting New Orleans rebirth by joining the NOFC.

We are opening in a neighborhood desperately in need of grocery services. There are no major grocery stores in the Marigny/St. Roch/Bywater and surrounding neighborhoods. This lack of grocery services has had a huge impact on the health of our community. By opening at the Healing Center location we will provide what is probably that neighborhood’s greatest need.

We are committed to healthy food at a fair price. It is not enough just to open a grocery store. We want to provide a place that offers groceries that are truly healthful and nourishing to you and your family. This means food that is fresh and local. This means providing foods that are grown without pesticides and other chemicals. We also understand that if this wonderful, healthy food isn’t fairly priced that we aren’t truly fulfilling our mission of access to healthy food. As a co-op we exist to meet the needs of our members. Since we are driven by mission and not profit, we will do whatever we can to keep our groceries affordable while keeping our business economically sustainable.

We will keep capital and jobs in our community. Since we own the store the profits will stay right here!! We will also be providing 18 full time equivalent jobs upon opening and plan to have $2 million in sales our first year.

Our store will have a community atmosphere that will set us apart. As a co-op we literally will be owned by our community. It is a great feeling to shop at a store you own and to share that shopping experience with others.

We support local and regional food production. Whenever possible we will find a local/regional source for a product. Our region has a lot to offer and year round growing seasons. We plan to provide a wide array of fresh, local produce, meats, seafood, eggs, rice, dairy, and many other local and regional products. It is better for the health of our members and shoppers and also better for the  environment. Local food is also fresh, so it tastes better too. We aren’t only supporting the well being of the consumer by providing local foods. We are also supporting our local and regional suppliers. We are providing an additional market for many of Louisiana’s producers. This will help our local economy and also help to create economic opportunities such as new organic farms.

Since this is the New Orleans Food Co-op we will be special. We are proud to have New Orleans in our name and want our store to reflect our unique and diverse city. Our membership is open to all and our store will be open to members and non-members alike.

The NOFC is committed to environmental responsibility and sustainability. This commitment will affect all the decisions we make as a cooperative business. This may be seen in decisions both small and large. This includes having energy efficient equipment and providing a large supply of bulk foods to reduce packaging. This is also one of the reasons we support local food production.

Economic Avdantage. There will be certain economic advantages only available to members. It is likely that after a few years a $100 membership will more than pay for itself. Economic advantages will include our patronage refund program, special members-only discounts and sales, and discounts from other participating businesses.

We will work with our future General Manager to develop member benefits such as case discounts, special members only sales on select items, or specific member appreciation days when only members will receive a discount. We are yet to work out the specifics, and will develop this with our future GM with the input of our memebrs.

We will also develop a growing list of other business who will provide services or discounts to NOFC members. Wild Lotus Yoga offers a discounted package of yoga classes to NOFC members.

We are developing a patronage refund program. This means that when the co-op is profitable, some of the profits will be returned to members based on how much they spent at the store. This is NOT a dividend. This is basicvally a discount that is paid all at once on a yearly basis. Patronage refunds are a best practice, because they allow the co-op to ensure that there is a profit before giving some of their earnings away in the form of a discount. Many co-ops are moving away from a blanket discount system to a patronage refund system for financial viability. Also, patronage refunds are not taxable income for the co-op or for the member.

We look forward to welcoming you as a member or seeing you in our store!!