BEDFORD, NH – On Thursday evening, the Manchester Food Co-op invites the public to learn more about the next steps we are taking towards opening our new community store and about growing our local food economy.
During the event, members of the Manchester Food Co-Op’s board of directors will two investment opportunities that will allow them to take ownership of the Bedford Harvest Market.
Through individual public investing in the Manchester Food Co-Op, the board needs to raise $1.5M in the next two months. Through a combination of preferred shares and Member-Owner loans, these funds will provide 53% of our start-up and initial operating costs.
The Manchester Food Co-Op is a member-owned food cooperative working to build a full-service grocery store in the greater Manchester area. Their mission is to sell and promote the best local foods and products including produce, meat and grocery items as well as bulk foods and health-care products, while engaging the public in a dialogue about healthy and sustainable living through special programs including workshops and cooking classes.
This evening is made possible by generous donations from Bedford Village Inn, and light food and a wine tasting provided by CGI Business Solutions (food and wine tasting while supplies last, a cash bar will be available). Entertainment will be provided by 92.5 The River featuring a live musical performance by Manchester’s own: MB Padfield.
The event is free, RSVP here.
During this fun event, you will learn about two types of investment opportunities:
Preferred Shares: (this method is the ideal investment option for both Member-Owners and the Co-op) Preferred shares give Member-Owners shares (or stock) in the Manchester Food Co-op and these investments are equity for the store. Each share costs $100 and a minimum of ten shares must be purchased. Dividend returns for preferred shares range from 3%-5% based on the total number of shares purchased. We need 150 Member-Owners to buy an average of $5000 of shares to reach the Preferred Share goal of $750,000.
Member Loans: Member-Owner loans typically have a lower interest rate than bank financing, so borrowing from Member-Owners allows us to avoid acquiring high interest external debt. Member loans begin at $2,000 with an interest rate ranging from 0-3.5% based on the size of the loan. We need 150 members to make an average of $5,000 loan to hit our goal of $750,000 in Member Loans.
To invest you must be a Member-Owner. If you are not yet a Member-Owner, please consider joining now by clicking here: Become A Member Today. We are 1,300 owners strong and growing. Our membership goal is 2,000 by June 1.