{"id":377,"date":"2023-06-22T05:31:50","date_gmt":"2023-06-22T05:31:50","guid":{"rendered":"https:\/\/yourwaytogether.ca\/?page_id=377"},"modified":"2023-09-08T16:59:31","modified_gmt":"2023-09-08T16:59:31","slug":"why-a-co-op","status":"publish","type":"page","link":"https:\/\/yourwaytogether.ca\/why-a-co-op\/","title":{"rendered":"Why a co-op?"},"content":{"rendered":"\n
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A co-operative is often about people coming together to meet a common need \u2013 what need can you serve in your home community that will benefit your people and future generations? Consider starting a co-op!<\/p>\n\n\n\n

By establishing a co-operative, you can work with others to produce goods and services within your community, for your community.<\/p>\n\n\n\n

What is a co–<\/span>op?<\/h3>\n\n\n\n

A co-op is a business or non-profit owned by a community of members working together to meet a common need. When someone becomes a member of a co-op, they are an owner of the business.<\/p>\n\n\n\n

Looking to help your community achieve self-reliance? Consider building an on-Nation co-op to create jobs and provide much-needed products or services. We can help!<\/p>\n\n\n\n

Three Key Features:<\/h3>\n\n\n\n
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All members have the same amount of decision\u2013<\/span>making power \u2013<\/span> each member gets one vote.<\/h6>\n<\/div><\/div>\n<\/div>\n\n\n\n
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Members receive profits back from the co\u2013<\/span>op based on how much they used the business.<\/h6>\n<\/div><\/div>\n<\/div>\n\n\n\n
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c<\/span>o\u2013<\/span>ops are led by a board of directors made up and elected by their members.<\/h6>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>\n\n\n\n
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How to become a member of a co\u2013<\/span>op<\/h3>\n<\/div>\n\n\n\n
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Submit an application to join the co-op.<\/p>\n<\/div>\n\n\n\n

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The application is reviewed and approved by the co-op\u2019s board of directors.<\/p>\n<\/div>\n\n\n\n

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The new member buys a share in the co-op.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>\n\n\n\n

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Types of co\u2013<\/span>ops<\/h3>\n\n\n\n

Every co-op is member-owned, but who the members are depends on the type of co-op established. When deciding what type of co-op to create, ask yourself \u201cwho should make the decisions about this business?\u201d Your answer will help you decide which type of co-op is right for your organization.<\/p>\n\n\n\n

There are three main types of co-ops:<\/strong><\/p>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t
<\/th>Consumer co\u2013<\/span>ops<\/th>Worker co\u2013<\/span>ops<\/th>Producer co\u2013<\/span>ops<\/th>\n<\/tr>\n<\/thead>\n
Membership<\/td>Owned by those who buy the co-op\u2019s products or services.<\/td>Owned by the employees of the co-op.<\/td>Owned by those who make or grow the things the co-op markets and sells.<\/td>\n<\/tr>\n
Key Features<\/td>Can be for profit or non-profit.<\/td>Employees themselves create the co-op, either by starting their own business, or buying an existing business from owners who are retiring.<\/td>Usually created by people from the same industry who share similar challenges and expenses.<\/td>\n<\/tr>\n
In most for-profit consumer co-ops, customers don\u2019t have to be members but only members can share in the profits.<\/td>Employee owners perform tasks like sales, profit distribution, supervision of non-member staff, marketing, etc. They also make strategic decisions for the co-op.<\/td>Production work done independently.<\/td>\n<\/tr>\n
In non-profit consumer co-ops (like daycares), you generally have to be a member to use its services.<\/td>Members save money by purchasing supplies as a group, sharing administrative costs, and collectively marketing their products.<\/td>\n<\/tr>\n
Examples <\/td>Credit unions, retail businesses (gas stations, grocery stores, etc.), telecommunications companies, childcare, housing, infrastructure services.<\/td>Consulting agencies, breweries, small retail, manufacturing, media companies.<\/td>Accountants, artists, farmers, fishers.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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