Linda Berentsen, owner of Orca Books in downtown Olympia, Wash., has chosen to transition her store to a cooperative business model and is seeking members, the Olympian reported.
Orca Books was officially incorporated as a cooperative on April 17, during an event called Co-opatopia. Berentsen worked with the Northwest Cooperative Development Center to form the cooperative and told the Olympian that she hopes to raise $300,000. That money would go toward buying her out of the business, paying off outstanding debts and raising capital for the store's ongoing operations.
Would-be members can choose from three different tiers of membership. Low-income memberships are available from $25 to $99; regular memberships are available for $100; and organizations or businesses can join for $200. All memberships are one-time fees, and members will be rewarded with discounts, voting rights and other, yet-to-be-decided benefits. The bookstore's new board, which at the moment consists of store employees, eventually will broaden to include community members.
Berentsen told the Olympian that she "didn't want to walk away" from the bookstore, but she was unable to keep subsidizing it by forgoing a salary. She has been in the book business since the early 1990s.
Interested parties can inquire about store membership at Orca Books.