Fundraising

An extensive business plan has now been created which is required for the Post Office application as well as for the Steering Team to know if the shop will be a viable proposition. The summarised financials are:

 

                            Start Up Costs                     = £21,150

                            Cash Flow Support           = £13,000

                            Standing Costs                   = £23,660/yr

                            Shop Breakeven Sales    = £1,560/week

  

For the shop to open we therefore had to raise at least £22,000 to cover the set-up costs and then a further £13,000 to help with cashflow.   Fundraising had reached a level where we could go ahead and open the shop but we are still looking for more pledges to reach our target.   The steering team are also willing to consider interest free loans but these would be on the condition that they are only repaid when the shop is able to do so.  Grants are also being looked into.

  

The Gorsley Community Shop will be operated as an Community Interest Company (CIC).  The intention is that the shop will not generate large profits, but any profits that are made by the shop will either be put back into the shop itself or into community projects.  Donations are therefore a way for the community to support this venture and will not be refunded at a later date.

  

The Steering Team recognise that by raising the funds in this manner, not only is the necessary funds found, but it will signify that the community is behind the community shop and will ultimately use it going forward.