Who is making these decisions?

The Management Committee have worked on the project financials and have drawn up a business plan with support & advice from the Plunkett Foundation.

Extensive research has been done on Community shops, including visiting existing shops and discussing their business models with their founders.

Eileen’s experience with Acorn Stores and Sean and Rosie’s experience from Stable Stores has also been invaluable in validating the assumptions behind the level and type of business. Information and financial data collected has been shared and discussed with the Management Committee.

The Plunkett Foundation has supported almost 600 community businesses to reach trading stage across the UK and we have had a consultant visit us to help with the planning stage.

If you would like to get involved, please let us know!

What will happen to profits if any are made?

An Annual Members Meeting (AMM), which includes all shareholders, will be held each year to discuss finances. Some monies will be required to maintain the shop of course, but if there were sufficient left to donate the AMM could donate this to the community or a local charity.

What happens to my share if the shop goes bankrupt?

An ‘asset lock’ is included in the Rules of the Community Benefit Society, whereby the building / residual cash etc would be passed to another Community entity.

Therefore, the assets will remain in the village and your contribution will continue to benefit the community.

What legal status will the shop have?

Frittenden Community Stores Limited has been set up as a Community Benefit Society, registered with the Financial Conduct Authority.  The benefits of this are:

Annual Members Meeting every year

Each shareholder has a vote

Everyone in the community will be offered the chance to buy shares in the CBS. Shareholders will vote on its future direction and key decisions, and there is an Executive Committee elected by the shareholders.