Co-op Members Turn Out in Droves
To Discuss Finances and the Future
By M. D. Drysdale

The Randolph Co-op, which in the last year has made public its financial troubles, met with a packed room full of owner-members on March 14 to discuss the strategies the Council has approved to ensure the store will have a future.

The evening began with a briefing of the financial state of the store, steps to move forward, and goals. The rest of the three-hour meeting was devoted to discussion of the plan and the various roles owner-members can play in the coming months.

A key part of the plan is the management team that is in place. Three members of the Co-op’s finance committee—John Lutz of Randolph, Stuart Osha of Randolph Center, and Don Shepheard of Braintree–are overseeing the daily operations of the store. These three are working closely with staff to cut costs, bolster sales and have a better dialog with the community.

Lutz stressed this week that the Co-op continues to face a daunting financial picture, that includes indebtedness of close to $300,000, not counting the mortgage.

The store needs to take in about 20% more than it has in the last couple of years to continue its recent progress in reducing the overall debt, he said.

Lutz noted that "by careful cost control," the co-op has reduced liabilities by more than $12,000 since last December 31.

While it appears that the co-op, which is operating without a manager to save money, will be in the black this month, several more months of profitable operation are essential if the store is to survive, he said.

What To Stock?

Another major facet of the plan, and the most controversial, is the introduction of conventional foods into the Co-op’s inventory. Reservations about this decision were expressed by several members at the meeting, but the overwhelming response was positive. Co-op Treasurer Don Shepheard explained the financial necessity of product expansion. "Conventional products have greater markup potential and will allow us to eventually expand our local and organic offerings. We have no intention of reducing the number of specialty or organic items in the store – conventional foods will be just one choice for Co-op shoppers, not the only choice."

RCM Council President Lisa McCrory says that she was thrilled by both the attendance of the meeting and the positive input received by the owner-members. "It was overwhelming. People had fantastic ideas and are ready to do their parts, as volunteers or otherwise, to help the Co-op succeed."

Council member Steve Reid says that he hopes people left the meeting with an optimistic eye toward the future. "At this point, the most important thing that people can do to help the Co-op is shop, shop, shop."