DUBUQUE FOOD CO-OP

DUBUQUE FOOD CO-OP. The Dubuque Food Co-op, a 6,000-square-foot facility at 955 Washington Street, was the city's first full service cooperatively-owned grocery store specializing in local and sustainably-produced foods and other products. Opened in 2014, the organization had a goal of providing local, natural and organic foods of high quality at fair prices. Located in the Historic Millwork District's restored CARADCO building, the Co-op was intended to contribute to the area's economic growth by keeping money spent on food in the region. (1)

The Board of Directors hoped to have one thousand memberships before the Co-op opened in October of 2012. A one hundred dollar membership entitled a person to receive 5% discounts, a newsletter, and an invitation to the annual meeting. Members-owners could also run for a position on the Board. As the store became profitable, the Board could elect to declare dividends based upon the amount of purchases a member-owner made in the past year. Member loans to the organization and the sale of preferred stock were avenues of finance. If a member-owner moved away or no longer wished to be involved in the organization, their initial membership fee would be reimbursed. (2)

Anyone of the community could make purchases.

On Wednesday, January 11, 2017 the announcement was made that the Co-op officials announced that the store would close. The reason for the closing was that sales did not adequately cover operating expenses. In the first year, the store had hoped to reach $1.8 million in sales but had only achieved $1.2. Plans to expand the number of products and raise capital for new equipment in 2016 were announced to attract more business. The store was then not operating at a break-even point. (3)

---

Source:

1. Hoyer, Bill, "Dubuque Food Co-Op," Julien's Journal, April 2012, p. 54

2. Ibid.

3. Barton, Thomas. "A Tale of Two Grocers," Telegraph Herald, January 12, 2017, p. 1A

"Top Business Stories," Chronology 2014, Telegraph Herald, January 1, 2015, p. 3