Watch an Important Message From the Board
Dear Co-op Members and Supporters,
Like you, we are owners, and we believe with all our hearts that our Co-op is so much more than a grocery store. For the community, for local farmers and producers, and for all of us, we want our Co-op to be a warm and welcoming space where we can find comfort in a crazy world.
As you’ve seen, our contractor is making great progress at 86 Powder Mill Road. However, our plan to meet the $1.75 million shortfall before we open is not moving quickly enough. While we will continue to fundraise*, we now have to consider taking on debt that could hamper the long-term success of our store.
We are asking for your immediate volunteer support…
We have approved the formation of a Strategic Planning Committee whose mission is to find creative solutions to raise the capital we need before we open. We are seeking owners and non-owners alike with expertise in finance, business development, fundraising, strategic planning, and grant writing to join this committee.
If you or someone you know has this expertise, please complete this form before Nov. 11th. The time commitment is yours to decide, but we will hold weekly meetings on Zoom through the end of the year to form recommendations and implement them quickly. We have no time to waste.
Our Co-op Community has made tremendous strides and overcome so much. We put a solid business plan together, hired stellar staff, found a great location, and had everything in place to build our store (including a financial cushion). But within these past 10 months came a number of challenges that were completely unprecedented — supply chain issues, transportation issues, staff issues — all of which raised our construction costs by 80%.
We have been hit hard this time. The funds we raised from the capital campaign are no longer sufficient to cover our costs. We must come together if our co-op is going to succeed. Thank you for all your support, and we look forward to completing the work ahead.
With deep appreciation,
Your Assabet Co-op Market Board
*To donate to the Bridge the Gap Fundraiser, click here. To donate through a Donor Advised Fund or other financial vehicle, email firstname.lastname@example.org.