Consumer Cooperatives Write for us
Consumer Cooperatives write for us – Consumer cooperative stores are enterprises established, owned and managed by a group of consumers sharing common interests. In simple words, it is an association of consumers who voluntarily comes together to satisty their common needs along with safeguarding the consumers as per their interests. To submit your article, you can email us at contact@vigorbusiness.com
Furthermore, the core motive of consumer cooperative stores is to provide supreme quality goods and services to consumers at reasonable prices and protect themselves from the exploitation of middlemen. Hence, these objectives is eliminating the role of middlemen or retailers who add their profits to the price of final goods and services and sell them to consumers.
Indeed, For starting a consumer cooperative stores, there should be atleast 10 members who voluntarily form an association and get it register under the cooperatives society act. Hence, The member of the store raise the capital by issue of shares among themselves.
KEY FACTS ABOUT CONSUMER COOPERATIVES
Millions of Americans are involved in consumer cooperatives. Here are some key facts:
- More than 7,000 credit unions serve 100 million customers in the United States.
- More than 42 million customers receive electricity from the National Electric Cooperative Association
- More than a million families have affordable and pleasant housing thanks to consumer housing cooperatives
- PCC Natural Markets in Seattle is the largest consumer-owned food cooperative with over 56,000 members
- Examples of consumer cooperatives include REI, PCC Natural Markets, Navy Federal Credit Union, and The National Electric Cooperative Association.
Types of Consumer Cooperatives
- Consumer Cooperatives
- Worker Cooperatives
- Producer Cooperatives
- Purchasing or Shared Services Cooperatives
- Multi-stakeholder Cooperatives
Advantages of consumer cooperative stores
- Limited Liability: One of the most highlighted benefits of consumer cooperative stores is that the member enjoys limited liability. This means that their liability is limit to the amount of their capital contribution. Therefore, they are not personally responsible for paying the store’s debts or their personal assets will not be used to repay the debts.
- Prevents Exploitation: The main purpose of consumer cooperative stores is to eliminate the intervention of middlemen, who add their profit to the price of goods and exploit innocent consumers.
- Quality Products: Consumer cooperative stores ensure that consumers get top quality products at the best reasonable price by eliminating the role of middlemen.
- Steady supply: Members of consumer cooperative stores have a direct link with consumers, so they can more effectively forecast future consumer demands and ensure a steady supply of goods.
- Sourcing by choice: Cooperatives, while dealing with consumers, directly capture knowledge about current consumer choices and preferences in the market, which helps them satisfy consumers.
- Convenient Location: Moreover, These stores are located at convenient locations usually near residential areas where consumers can easily purchase goods as per their choice.
- Legal support: Hence, consumer cooperative stores work with a welfare motive to protect the interests of consumers; therefore, the government extends its support to these cooperatives by imposing less taxes, granting subsidies, reducing formalities and paperwork, etc.
- Cash Sales: These stores generally sell goods to consumers for cash. As a result, members need less working capital to run the store.
- Democratic management: Furthermore, The management committees of consumer cooperative stores are elect by its members and others by vote. Each member of the cooperative consumer store has one vote regardless of the number of shares he holds.
Associations FOR Consumer Cooperatives
National and international organizations stand with consumer cooperatives in their mission to serve members:
- Credit Union National Association
- National Grocers Association
- National Association of Housing Cooperatives
- International Co-operative Alliance
- Cooperatives for a Better World
Meaning of Consumer Cooperatives
Moreover, A consumer cooperative is a retail business owned by the consumers themselves. Their fundamental objective is to eliminate the intermediaries. Hence, Consumers come together and manage the business and the profit thus made is with in between them in proportion to their contribution.
Characteristics of Consumer Cooperatives
- Therefore, It is a voluntary association of persons and is registered under the Cooperative Societies Act, which grants certain privileges and grants certain exemptions to a register society.
- Membership of a society operating on the cooperative mode is open to all majors (adults).
- These companies sell cash and rarely allow credit facilities.
- Hence, The liability of members is limited to the amount of their contribution.
- Democratic control is exercise.
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