Developing an Existing Co-op

There are two aspects to developing an existing co-operative:

1. Expanding your co-operative
2. Enhancing the co-op's governance or management capacity.

Expanding your co-operative

To expand your co-operative, some of the steps you followed in developing your co-op apply:

Feasibility Study & Business Plan

You must determine whether the expansion will be viable financially by carrying out a feasibility study. You will also need to revise your strategic plan and/or business plan (depending on how you plan to finance your expansion).

Financing

If you need outside financing for your expansion, here are some of the options to consider:

• selling shares

• accepting loans from members

• collecting fees from members

• borrowing from other sources

Enhancing Your Co-op's Capacity

Once the blush of incorporation fades, your co-op must learn to steer the bumps and navigate the twists and turns of shifting operating conditions. In order to ensure that your board and management are ready for these challenges, taking training courses specifically designed for co-operatives will ensure that your co-op is benefitting from co-op expertise and best practices.