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Weaver Street Market Summary
Carrboro, NC, US: Weaver Street Market www.weaverstreetmarket.coop
Based in Carrboro, NC, the Weaver Street Market started with just 250 members, and cost $75-135 per household to join. Now a 12,000-member co-op comprised of three grocery stores, a food-preparation business, and an Italian restaurant, the co-op has leveraged its success to start an affordable housing cooperative and a locally owned radio station--both of which became so successful they are now independent non-profits. In addition, the cooperative's Community Fund donates upwards of $60,000 to local schools and other Carrboro non-profits annually.
The multi-faceted co-op holds itself to 10 bottom lines besides making a profit: cooperative control of profits, local self-reliance, ecological balance, meeting basic community needs, non-exploitation of the workforce, inclusiveness of the community, education of fellow citizens, social interactivity, empowerment of customers, and integration in the local economy. It reaches a broad audience by emphasizing middle-of-the-road products that hold a local identity, and sources directly from local farmers who are practicing artisanal production, committing wholly to a local, sustainable food system.
“This year our co-op passed the $20 million sales mark, meaning that $20 million was directed into the cooperative economy rather than the corporate economy,” explains one of its co-founders, Ruffin Slater. “Since 41% of the money spent at Weaver Street Market is spent directly in the local community, and by applying standard industry multipliers to calculate total economic impact, we calculate a total of $12 million in local economic impact that our co-op created last year. Another way we measure our contribution to our local economy is the amount we purchase from local farmers and food producers, which last year amounted to over $2 million.”
