A week after DigImperialBeach ran its article about the SunCoast Co-op Market needing Investors to fund the market and help make it a reality, the co-op received over 20 applications from investors and reached its first major milestone as it reached and crossed the 100 investor mark. At the time DigImperialBeach ran the article the co-op had about 80 investors and was looking to get 20 more to fill its Founder Club. Said Kim Frink, President of the Co-op, we are so excited to have reached the 100 investor mark and are working hard to make this store a reality."Still Not to Late to Invest in Co-op
Although the Founders Club has been filled, its still not to invest in the co-op. Shares sell for $100 each and a minimum of 2 shares must be purchased. A person may purchase up to 10 shares, however, no matter how many shares any investor has they are limited to one vote on any matters that come up that require voting. If you would like to invest but don't have $200, they have a plan that will allow you to pay $50 quarterly.
New SunCoast Market Co-op Will Bring Locally Grown, Natural Food and Healthy Living to Imperial Beach and Surrounding Communities
If you haven't heard yet, there has been a Healthy Grocery Initiative
going on in Imperial Beach for awhile now with the goal of opening a Co-op Market (Grocery Store) that will bring locally grown, natural foods and healthy living classes
to Imperial Beach and the surrounding communities. This summer they finally launched a drive to raise funds to make the Co-op a reality.
SunCoast Co-op Market came about in November of 2015 as the Healthy Grocery Initiative as a grassroots effort to open a community-owned, cooperative,
grocery store in Imperial Beach, California. SunCoast is part of a resurgence in consumer food cooperatives across America that are strengthening local food systems, increasing access to healthy food for all residents, and providing needed retail outlets for small local farms and producers.
It was originally founded by Marey Stone, now the Board Secretary and Andrea Wogsland, who has since moved away but has bought several shares as Christmas gifts for friends. Currant President, Kim Frink, came aboard shortly after that.
A consumer food co-op is a business that is owned and controlled by community members, not outside investors. Cooperatives serve their owners and the community. When sufficient funding is raised through owner shares, grants, and loans, a full-service grocery store will be opened. You can support this amazing effort by becoming an owner today!
Why a Co-op is Needed
Healthy eating plays a critical role in determining health outcomes, yet many of I.B.’s neighborhoods meet the UDSA’s definition of a food desert and have an over-abundance of liquor stores, convenience stores and fast-food restaurants. According to Esri market data and SunCoast’s local survey, many residents in I.B. and surrounding communities are doing some, or all, of their grocery shopping outside of their neighborhoods. Over a 6-month period:
• 2,488 I.B. residents (13%) shopped at a Trader Joe’s, as did 8,556 Nestor/Otay and 3,108 Coronado residents; the closest Trader Joe’s to I.B. is in Eastlake, 14 miles away.
• 1,528 I.B. residents (8%) shopped at a Whole Foods, as did 5,077 Nestor/Otay and 1,943 Coronado residents; the closest Whole Foods to I.B. is in Hillcrest, 16 miles away.
Said Kim Frink, President of the Healthy Grocery Initiative and Sun Coast Co-op Market, We have had an excellent response to our plan. We expect to have a "Meet and Greet" sometime in the next month for our shareholders and anyone interested in finding out more about the Co-op.
In the next month, there will be a meet and greet for the Founders and anyone wanting to learn more at Seaside Candy. As soon as a date is set we will let you know! There will also be a Founders Club Meeting in February.
In just over a month the co-op has grown from 80 members to 115 with another 10 to 15 people indicating they would be signing up at the Eat and Great.
If you would like to become an owner you can click here for an application: BECOME AN OWNER
or for more information:
SunCoast Co-op Market
P.O. Box 2072
Imperial Beach, CA 91933-2072
Phone: (619) 869-7040
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Paul Spear, Publisher, and Editor of Dig Imperial Beach