Dear TPSS Co-op Member-owners,
For 45 years, we’ve been proving that a grocery store can be successful while caring for people, community, and the planet. Now, we want to extend the benefits of what we’ve built to a new part of our community by opening a second store.
You are one of the 11,000+ owners of this business, and we are coming to you to ask for your investment in your co-op’s future. Today we’re launching the TPSS Co-op Member Investment Campaign to raise $2.4 million to help finance the second store. We’re excited to announce we’ve already received commitments that represent 10% of our campaign goal!
Why grow?
TPSS believes that now more than ever more people in our region need access to the community benefits of a local food coop. A second store means more opportunities to support local farmers and producers, more access to high-quality food, and more good union jobs and economic activity that stays rooted in our community.
A second store also strengthens the finances of our current store. TPSS Co-op is financially successful. But like many businesses, our expenses are growing faster than our sales. A second store will allow us to grow our revenue and spread our costs across a larger business, giving us the scale to remain financially sustainable for the long term.
The Co-op has been preparing for expansion for years. We’ve done the planning, completed our market study and financial projections, and engaged leading experts to guide us. Now, we’re asking our member-owners to help us take the next step.
Invest in your local community
This campaign is a unique opportunity for you to put your money to work to benefit your local community rather than Wall Street. Your investment will reduce the amount the Co-op needs to borrow, strengthen our financial position, and demonstrate community support behind our expansion.
Here’s how it works. The Co-op is issuing interest-bearing shares in our business. Investors will earn 4-5% annually, depending on the amount of investment.
Want to learn more?
Our Member Investment Campaign website should answer your questions. If you decide to invest, you’ll find the subscription agreement and other key documents there too.
When you see board members tabling in the store, come chat with us about all this. Also, don’t be surprised to get a phone call or email from a board member – we’re looking to talk to as many of you as possible about your Co-op’s future.
Let’s grow this cooperative and bring the TPSS model to more of our region!
In cooperation,
The TPSS Co-op Board of Directors and Staff
P.S. Have questions about investing? We are happy to answer them! Please contact memberinvestments@tpss.coop or board@tpss.coop.