KCFC Progress & Next Steps

December 6, 2022
8:33 pm

Supporters and Friends of KCFC,

Thank you for your past and ongoing support – we can’t express how much you mean to us.

We want to share what’s been going on with the co-op. The KCFC team has been:

Applying to join National Cooperative Grocers (NCG). If approved, this will enable KCFC to access some new major co-op wholesale vendors at reduced prices, plus expert technical assistance with merchandising, marketing, and much more. We know that pricing was a serious challenge since opening and has to be improved for the store to succeed.
Deep-cleaning the store and all refrigeration equipment – which improved the operating efficiency
Communicating with vendors to resolve outstanding bills and repair relationships as needed
Reaching out to large potential funders (Individuals and institutional)

KCFC is continuing to raise funds as operating costs continue to accrue every couple of weeks (current limited payroll, rent, utilities, payables, etc.), and the amount needed to reopen increases due to these costs. The reality is that fundraising will continue to be a need if we are going to be successful. We understand this is hard to hear, but want to be transparent.

Intentional Goal

We’ve created a separate platform on GoFundMe for a distinct goal of $37,700. Combined with other funds we expect to be coming in, this will get us to the $250,000 level where management can initiate re-opening and cover a range of operational expenses. Our manager is targeting a reopen date of mid to late January . To properly reopen without an excessive risk of then shortly thereafter closing due to lack of operating capital, the manager and consultants working with him require that we reach $250,000 in total funding by December 15.

The good news is: thanks to our community’s efforts, we already have most of this, but if we don’t reach the $250,000 level by 12/15, opening will take longer.

As we restart the business, KCFC will prioritize:

Getting back on good terms with our vendors and nurturing relationships with them (many of whom are also small businesses)
Hiring new department leads; anticipating some staff will return, plus staff will be newly trained
Looking at other area retailers, product selections, gross revenue needs, and projecting how sales will go in a refreshed KCFC.

So Much Gratitude

Thank you for your continued confidence in this cooperative enterprise owned by more than 1,500 people. No matter what happens, thank you for showing up all these years and staying tuned in to the success of our business.

If you are thinking about supporting us, please consider the following:

Paper checks are preferred, especially for gifts over $1,000, as this will save on transaction fees. Checks can be made out to Kensington Community Food Co-op and dropped off at the store between 9am-5pm Monday-Friday. Email [email protected] with an expected time that you will stop by.
Member-owners are always welcome to increase their equity on the website: https://kcfc.coop/ownership/equity-payoff/. We can manually add these funds as “contributing funds” toward our GoFundMe goal, which will get us closer to our goal. Member-owners can currently deepen their equity up to $2,000 total. If you deepen your equity, kindly let us know by emailing [email protected] with the payment receipt so we can add the amount here in a timely fashion.

Thank you!
KCFC