Skip to main content
You are the owner of this article.
You have permission to edit this article.
Edit

Wild Root Market resumes fundraising, starts store design

  • 0
Wild Root Market

An artist’s rendering shows how the $5 million Wild Root Market co-op grocery store planned for 500 Walton Ave. is envisioned.

RACINE — Wild Root Market cooperative has launched the next phase of its capital campaign to build a grocery store at 500 Walton Ave. and has begun designing the store.

With more than 1,080 owners and more than $460,000 currently raised, the Racine-based consumer-owned grocery co-op is 41 percent of the way to its goal of $1.125 million toward the estimated $4.8 million total project cost.

At a recent owner input session, consultant Jacqueline Hannah with Food Co-op Initiative solicited ideas from Wild Root owners about what they want to see in their grocery store, the co-op stated in a news release. Although Wild Root Market intends to focus on the sale of local and organic foods, there are many decisions to be made about the specific mix of products.

Wild Root Board President Rose Nelson said the co-op’s goals are to wrap up fundraising this month, close on the building purchase and start construction by the end of April and open by fall, a timeline she acknowledged is “aggressive.”

Wild Root has an accepted offer to the Walton Avenue building and precommitments in place for the additional financing it needs but must raise an additional $725,000 from its owners by March 31 for the project to proceed on schedule. So far more than 150 owners have made loans or donations to the Owner Investment Program. Capital campaign chairwoman Marcia Buhler said the co-op needs 160 more owners to make loans or donations averaging $4,500.

“The potential community benefits are huge,” according to Hannah, who helped Wild Root Market develop its local impact projections. “We expect this new business will generate over $5 million in sales in its first year and create 40 new jobs with benefits, including management, mid-level, and entry-level positions.”

Those interested in joining the co-op may purchase an owner share on the Wild Root Market website at wildrootmarket.coop. The one-time fee of $200 can be paid in full or in installments. Proceeds from owner shares are used to fund preconstruction and start-up expenses.

“The potential community benefits are huge. We expect this new business will generate over $5 million in sales in its first year and create 40 new jobs with benefits, including management, mid-level, and entry-level positions.” Jacqueline Hannah, of Food Co-op Initiative, speaking about Wild Root Market

“The potential community benefits are huge. We expect this new business will generate over $5 million in sales in its first year and create 40 new jobs with benefits, including management, mid-level, and entry-level positions.”

Jacqueline Hannah, of Food Co-op Initiative, speaking about Wild Root Market

Quote
0 Comments
3
0
1
0
1

The business news you need

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Reporter

Michael "Mick" Burke covers business and the Village of Sturtevant. He is the proud father of two daughters and owner of a fantastic, although rug-chewing, German shepherd dog.

Related to this story

Get up-to-the-minute news sent straight to your device.

Topics

News Alert

Breaking News