Building a Community-Owned Grocery Store
The Assabet Co-op Market is an initiative to open a community-owned, full-service grocery store serving the Metro West region. Our target location is Maynard, and our mission is to support the regional food system; strengthen the local economy; promote the well-being of our Members, our community, and the environment; and be a center of community activity.
The Co-op began when a group of people met in 2012 to talk about opening a community-owned grocery store. The group expanded, began selling memberships, and raised seed funds.
We obtained our market study in June 2015 and found that Maynard is the ideal location for a thriving co-op – it’s surrounded by farms (our suppliers), surrounded by towns that value local food, and at the intersections of routes 2, 117, 27, and 62. The studies determined that we can support a 7,500-10,000 square-foot store with an adjacent parking lot. This size will allow for a full-service grocery store where customers can do their weekly shopping.
Should all potential sites in Maynard be exhausted, we will bring it back to our Owners to discuss whether to wait for a viable site in Maynard or locate in one of the bordering towns.
Where are we now?
We now have more than 1,600 Owners from more than 40 towns, and our site search is underway. We have also raised $1.5M in interest-paying Owner loans, 75% of our $2M Capital Campaign goal!
What comes next?
Once we sign a lease or purchase agreement, our design consultants will create a vision for our store as we launch the final phase of our Capital Campaign, reaching $2M in interest-paying loans to match traditional bank financing and build a business that’s around for decades. Investing in the Campaign is not a requirement of Ownership – but it’s a great way to invest in all our shared values around local food and community and build a thriving local economy.
Join more than 1,600 friends by becoming a Co-op Owner today. Already an Owner? To make an interest-paying loan to our Capital Campaign and help us cross the finish line, e-mail Campaign@assabetmarket.coop today to request your prospectus!