Emergency Board Meeting Agenda 04/11/2018
Wednesday,__ _, 6:00 - 7:00 pm
The Co-op: 18 Putnam Ave, Brooklyn
Facilitator: Christina Travers
Note-taker: Matthew Talmage
Note-takers - please see link to secretary responsibilities.
Directors Present: Cecile, Christina, Cecile
Others in attendance:
Any person attending may participate equally in discussions, but only Co-op members/owners may vote on any issues. Member/owners may receive work credit if they attend (allotted 1 time a year).
Next Emergency Board Meeting is Wednesday, April 18_ 2018 at the store. Want to be a facilitator, secretary, timekeeper or to propose items for a future GM agenda? Please email firstname.lastname@example.org (work credit always allotted)
Welcome/Orientation 6:00-6:05 (5 min)
Welcome and introductions. Brief explanation of the purpose of the Board Meeting. Questions welcomed!
-- Item #2 tabled till next week
1. Lease Committee and Relocation/Build Out 6:05- 6:15 (10mins)
Lease signing update
Build-Out schedule update; Lindsay Reichart project manager; call member/owner workshift sign up
IndieGogo update and effect on build-out
2. Store Coordinator Update 6:15-6:30 (15 min)
General Manager position; overall purpose, job description, salary, inventory management
Liaison speaks to April 23rd closing date
3. Price Mark up Proposal 6:30-6:45 (15 min)
$15,112 cash balance
Uncashed rent $31,602
Actual adjusted cash $16,490
Fixed expenses = $13k/month need to be covered by clean profit to
Current markup: have to sell 70k if 35% markup 50k sales
--profit erosion is shrinkage/spoilage/not proper markup
--the added markup works in an ideal situation which we don’t have
--part of these regular meetings is to be realistic about financial goals
--delegate merchandise/inventory/finance/pricing to come up with plan that works
--multi pronged approach
--Bianca: as long as we bring in money that we need
--standard will be 35% and then adjust from there: staples lower, specialty higher
--how labor intensive will that be?
- it’s hard to say: pricing committee & inventory committee meeting
Merch is creating a committee to study different prices, and to develop a list of items that will be sold below or above 35% (with a maximum markup of 50%)
Project figured out with a 3 month review
35% is the highest markup of Brooklyn Coop
Specialty markets have 100%; regular grocery stores depends
Maybe we start at 30% and produce up to 35%?
Are we guessing if we raise prices we’ll still sell and members won’t leave?
Other way to raise money is to get more members; should that be our focus?
Our long term member numbers hovers around 300 people; problem is keeping members
#1 reason is people moving, second is merchandizing--which should be our focus
Proposal: not change prices here, but when we open at next space: come back early May:
People needed for this work Nathan, Michael, and 3 more; merch people may also be involved next Wed 7 mark up meeting; helpful to find Park Slope pricing strategy?
No voting: but regular meetings to monitor progress
4. Meeting Schedule 6:45-6:55 (10 min)
How frequently should we meet and how targeted should agendas be over the next several months to ensure successful move out and move into a new space?
Should we have targeted meetings with the membership to tackle specific items? For example, one meeting focused on finance and how to be transparent and fiscally responsible in our new space, with recommendations prepared in advance by the finance committee?
Determine meeting schedule beyond previously scheduled GMs
Same day same time: Wed 7pm Board focus on store Coordinator
Brain storm meeting topics; Finance; Membership decisions; end of May needs to be Merch focus; early May Store Operations; multiple Membership/Marketing; Community Outreach Active; Ally from Marketing can work on being content vehicle;
marketing not focused on source of content; who can focus on content like helping clear shelves? Maybe merch can.
We can encourage people to take initiative; can work better as a unit
Work on communication and committee chairs reporting their work
This coming weekend last fully stocked; then buy things out during the week.
Closing 6:55 - 7:00 (5 min) Board reviews votes at the end of each Meeting
Reports in writing:
Membership and Finance Report
Monthly membership report (link)
Summary of report:
Current number of working members: ________
Number of new members and deactivated in November: __ new members,
__ reactivated member, __ trial members
Number of existing members waiting for investment returns: _________
We’ve seen roughly a ___% increase in membership since January.
Monthly finance report (link)
Summary of report:
(current month 2017)
(previous month 2017)
(current month 2016)