Ownership

What is an Owner?

People choose to become owners of the Marquette Food Co-op for a variety of reasons; health-related, ethical considerations, environmental concerns, etc. Though there may be a financial benefit as a result of ownership, most people become owners because they believe in what our store stands for and the products they can purchase from us.

Becoming an owner of the Marquette Food Co-op is not like becoming a member of store like Sam’s Club where you receive a card that you can use to get discounts that are not afforded to others. It means that you are purchasing a share in a locally and cooperatively-owned business.

When you purchase your $100 equity share in full or start making payments toward it, you make the decision to become part owner of our cooperative. You might be wondering why we use the term “Owner” and not “Member”. The answer is simple. The term “owner” more accurately describes what you are in relation to the Co-op. It also implies a sense of responsibility that “member” does not. Additionally, the word “member” is often associated with discount shopping. Of the many benefits afforded to owners, discounts are only one of them. We hope that new owners take their new role seriously and participate in their cooperative on whatever level is most fitting to them.

Within our community are lots of talented people with unique personalities and special talents. Our owners share their talents in a variety of ways like teaching workshops and serving on the board of directors. Our Co-op has something for everyone. Owners also attend Co-op-sponsored workshops and cooking classes, participate in our Harvest Potluck and General Meeting of Owners as well as schedule us to give presentations and pass out samples for their church groups, coffee clutches and service organizations.

Some owners do their part by shopping at our store and prefer not to get involved beyond that. That works, too. Shopping at our store is an excellent way to show support for our business. Through your shopping you can also help us lower costs and help the environment by bringing your own shopping bags, reusing containers and buying bulk items. Our co-op really does have something for everyone.

Becoming an Owner

Becoming an owner in the Marquette Food Co-op is a quick and easy process with immediate benefits. Just ask one of our cashiers and they will be more than happy to help you with our short application.

Payment Options:

  • Pay $100 in full and receive a $10 gift card for the Co-op
  • Pay $25 and make quarterly payments until your equity share has been paid in full.

Owner Benefits

As an owner at the Marquette Food Co-op:

  • You are part owner of our business. Your equity payment gives the Food Co-op capital, an essential ingredient for any healthy business. Owner equity is the foundation of our business. As an owner, you are investing in a local, community-owned business.
  • You are part owner of a business that supports local growers and farmers as well as educates people about environmental and food safety issues, sustainability, working together, reducing waste, and the many advantages of locally-raised, natural and organic food.
  • You have the opportunity to purchase certain foods at special owner prices.
  • You share in the profitability of the store. Based on the store’s profitability, a yearly patronage rebate may be offered to owners. The rebate is directly related to the contribution to profit associated with your owner number. Owner purchases are recorded at the register.
  • You have the opportunity to special order larger quantities of your favorite products as well as place orders for products not carried in our store but carried by one of our suppliers.
  • You will receive a copy of our newsletter delivered to your door.
  • You have free or reduced admission to all Co-op events and workshops held throughout the year!
  • You may run for the board and vote on issues that affect your Co-op.
  • You have a fully guaranteed equity share. Owners in good standing may terminate their owner rights at any time and receive a full refund of any money paid to date.

General Meeting of Owners

We invite all of our current owners to come to our annual General Meeting of Owners (the only good GMO). This event is part annual meeting, part open forum and part social gathering. At this gigantic potluck, owners and their guests have the opportunity to meet other owners, get updates on our Co-op, meet recently elected board members, and eat lots of delicious food. If there’s two things that co-op owners know how to do….it’s cook and eat amazingly scrumptious food! And of course, we always have some entertainment and great door prizes.

Co-op Community Fund

The Co-op Community Fund is a pool of money maintained by owners for owners. The idea is taking care of one another. Funds from this pool are used to assist Co-op owners in a variety of ways from care baskets for those who are ill to assisting families who are in a tight spot financially. Funds from this source may also be used for equity down payments in instances of financial need. You may donate to the fund in one of two ways.

  1. Drop your dollars or change into the gigantic, recycled-glass jar near the front windows in the store.
  2. Tell a cashier that you wish to donate to the fund; it can be processed right through the register, regardless of payment type. We suggest making it a habit of donating to the fund by rounding up your grocery bill to the next convenient amount.

*Please note that our Co-op sets aside separate funds used to support a wide range of community programs and events.