Keys To The Shop : Equipping Coffee Shop Leaders 249 : The Path to Cooperative Ownership w/ Christopher Feran and Shane Hinde of Phoenix Coffee
When we think about cooperative ownership related to the coffee shop we tend be fairly unsure what to think of it. Even though we tend to fear it as an unknown, it is actually a viable option to help secure your business and also to generate stability for your employees.
In today's episode we are going to explore this operating model by talking with Christopher Feran and Shane Hinde of Phoenix Coffee in Cleveland, OH.
After years of planning and research they just transitioned the business to being a worker owned cooperative. The values of Phoenix Coffee have always been to create a democratic and equitable company that supplies stable middle-class jobs to their employees. This is the latest step in many they have taken to pursue that.
In this conversation we will be exploring their experience in this process and what it means for the company going forward. You will definitely learn a lot from this talk and perhaps you will be inspired to pursue this model for your own shop.
We discuss:
- Values based operating culture
- Navigating the impacts on the business
- Establishing equity and driving commitment
- Beginning the process of becoming a coop
- Challenges in the process
- How their cooperative model works
- What changes now?
- How are decisions made?
- Developing skill sets and competencies
- How collective leadership looks
- Coops as an option to exit as an owner
Links:
Related Episodes:
237 : Thoughts on Post -COVID Coffee
Bridging the Values-Action Gap
Starting a shop -or- want to level up you operations? KTTS Consulting can help! | Email me: Chris@keystotheshop.com
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