The story so far…
Following a successful community share offer in 2023, YSCSL reached our stretch target of £650,000 to buy the business of York Supplies for community benefit. While the legal processes took longer than we’d hoped, we got the keys just in time for the start of this year’s spring and summer plant season.
You can read more about our plans in the Share Offer Document and Business Plan produced last year. As anticipated, we have now acquired the business and hired two managers to take on the day to day running of the shop, along with Stuart who we’re delighted has chosen to stay on and work for us too, and Naomi who will again be working the summer season.
Share Offer Document
This document explains what we are trying to do and why, how we hope to get there, and how your investment will help.
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR CAREFUL ATTENTION.
It should be read in its entirety alongside the accompanying business plan and Society rules. If you are in any doubt as to the action you should take, you are recommended to seek your own independent financial advice.
Business Plan
The business plan explains the current business situation of York Supplies and what we intend to do to maintain and develop the business and community activities as York Supplies Community Co-op. The business plan should be read in conjunction with the Share Offer Document.
There are also two appendices to the business plan: the Risk Register and the Society rules .
As with any project of this kind, we’ve hit some challenges along the way – including the discovery that more extensive repairs are needed to the back of house storage areas than we’d anticipated, thus delaying the plans to sublet space elsewhere in the building. However, we’ve also had some unexpected bonuses too – like Jon rebuilding and extending the staging in the yard to increase the plant sales area ahead of the new season.
Why join now?
When we closed the formal Community Share Offer because we’d hit our “stretch” target for fundraising, we knew some people were still keen to join but missed out. We promised then that we would reopen applications for membership ahead of our first AGM so that as many people as possible could have a say in the future of this wonderful business – and now’s your chance!
How much do I need to invest?
Because we’ve already hit our “stretch” target for raising the money to buy the business, we’re only allowing people to invest £100. Just like every other member, this will give you one vote at the AGM and other meetings, along with the right to vote for Members to serve on the Board of directors, and to stand for election as director yourself.
What’s the risk?
Like any financial investment in a business, you could lose your money if the shop fails. You can read more about the risks and how we plan to mitigate them in the Share Offer Document and Business Plan.
Can I get my money back later?
We are planning to allow Members to withdraw their investments from Year 3 onwards, but this depends upon the performance of the business in that time.
How can I apply to join?
Please begin your application for shares by clicking below oe ask for a paper application form in the shop.
Deadline for membership applications: Monday 3 June