Family Farm Day
April 29 - 2pm until 8pm
Durham Central Market continues its annual tradition of fun and food at Family Farm Day, Sunday April 29th, at Elodie Farms. This year's event runs from 2:00 to 8:00 pm, and includes:
- ever-popular tours of the farm
- farm made cheese tasting
- FullSteam beer on tap
- Only Burger
- Pie Pushers
- kids activities by Sew Crafty
- Live music and more!
Adults 10 dollars, Kids 5 dollars
Look for more details and directions on our website!
Come early, come late or come for it all!
It’s the Year of the Co-op
2012 is the UN International Year of the Cooperative. Cooperatives are a form of business ownership used around the world and can be very large organizations. Here in Durham, in addition to Durham Central Market, numerous credit unions are cooperatives. Elsewhere in North Carolina they include producer cooperatives and electric cooperatives (largely rural delivery systems). For more on cooperatives and the IYC, visit these sites:
Like last month, the best I can say is ‘stay tuned.’ As I was considering what to tell you, I realized that many of you might be wondering what’s involved in selecting a site and why it takes some time to announce a location.
The first step was to look at the entire market and see which sites we thought might work.
We then hired Dakota Worldwide to do a market study, which they’ve completed. We asked them to do several things:
- Determine the trade area for our cooperative
- Examine the competition
- Review three specific sites
- Provide sales projections for the first three years of operations
The study takes into account numerous qualitative “soft” variables. A few of them include:
- How Kroger, Harris Teeter, Whole Foods and others sell natural foods
- How well we’ll merchandise and market our store
- Access, visibility, neighborhood, parking and size of each site
- The market’s “propensity” to buy natural foods
After reviewing the study we’ve determined that all three sites have the potential to do enough business to be viable locations—but there are numerous quantitative issues as well, that the study does not consider, such as:
- Cost differential of operating each location (which varies depending on things like loading and waste facilities and more)
- Cost to renovate a particular building
- Landlord’s contribution to renovations
- Start date for rent payments
- Length of primary term and renewal terms of the lease
Four of those issues are subject to negotiation with the landlords; those negotiations are going on now, which is one reason why we have no news to report publicly yet, and may not for a few more weeks.
Just as with your investments, the board greatly appreciates your patience during this “quiet period.” I know they look forward to a public announcement sometime in the next few weeks!
|March 18, 2012
Owner Shares at a Glance
In This Issue
- Third Annual Family Farm Day
- It's the Year of the Co-op
- Site Insights
We continue to have awesome T-shirts, tote bags, water bottles and stickers for sale! Email email@example.com for details on how you can purchase!