Fifth Street Co-op, Inc. Frequently Asked Questions
Q: What's a co-op?
A: A co-op exists to serve its member-owners. It is a democratically-run business. The entity cannot hold a profit, so the profits of the business are either distributed back into the business to grow it and to make capital improvements or distributed to the member-owners (based on patronage). These decisions will be made by the Board of Directors (elected by the membership). Read more about it: http://www.go.coop/what-is-a-co-op
Q: What's in it for the members?
- You can say you OWN a brewpub! (without breaking the bank)
- Fifth Street Brewpub Co-op Membership Card
- A free beer on your (co-op) birthday.
- You can bring your friends to the bar YOU OWN.
- Being able to update your Facebook status to say "OWNER - Fifth Street Brewpub!"
- Future patronage refunds planned based on how often you visit the co-op.
- Possible rise in property values! Co-ops are democratically owned by community members and therefore keep money and jobs in the community. Research shows that property values increase in neighborhoods with small, independent businesses. See http://civiceconomics.com/projects/featured-projects/american-express-open/
- Invitations to special member-owner events and socials
Q: As an owner, will I be held personally liable for any losses the business experiences?
A: The most anyone could lose is their $100 investment – nothing more. Member-owners of a co-op are protected from liability just as shareholders are in publicly traded companies.
Q: Who will brew the beer?
A: Eric Zamonski is our brewmaster. Learn more about him by reviewing the BREWMASTER page on the site.
We also plan to have a program for home brewers where they can brew at our brewpub and enjoy their beer from our tap.
Q: Who are the other founding members?
A: See the rest of our founding member bios by reviewing the FOUNDERS page on the web site.
Q: Are the photos on the website the actual brewpub?
A: All photos are artist’s renderings and reflect our vision for the brewpub.
Q: Can I buy more than one share/membership?
A: Yes and No. Our co-op allows each individual to purchase one share. To increase your family’s involvement, feel free to purchase memberships for a spouse or family member (21 or older). Each member-owner owns an equal share of the business and gets one vote. This includes founding members. There is also an opportunity for investment at the $1000, $3000 and $5000 levels, each with different benefits, including a higher ROI the more you invest. The investment paperwork is still being reviewed by our attorneys. More detail will be available soon.
Q: Is the $100 fee annual or one-time?
A: It's a one-time fee.
Q: Can I buy a gift membership?
A: Yes. Fifth Street Brewpub memberships also make great gifts. Do you know anyone that would love to own a brewpub? They can live anywhere in the world and still become an owner. Gift membership can be purchased using the downloadable membership application on our web site (click on “Join Co-op” in the main menu). The membership director, Maureen Barry, will also create a certificate that you can give to the recipient.
Q: Will there be food?
A: Yes, the brewpub will be a restaurant and brewery.
Q: Is there ample parking?
A: There are about 12 spaces directly behind the building, lots of street parking and we are also exploring the possibility of using the parking lot across the street after business hours (an additional 24 spaces).
Q: When will I get my membership card?
A: We cannot say for certain yet – but it will be after the charter membership drive is open. The cards we want to get aren’t cheap – so we need to prioritize our spending before we can order them. We plan to have them before we open for business!