Because we are a member-owned cooperative, we are constantly pushing for as much transparency as possible when it comes to our reporting. Every year we publish our financial data for all our membership to see because our membership has a vested interest in our success!
We are a triple bottom line business, which means all our decisions are based on the answers to three questions – is it a good financial decision? Is it a good environmental decision? Is it a good social decision? We are always striving to take the path that most helps our business, supports a sustainable environment, and cares for our community and communities around the world.
As such, we are excited every year to share relevant data that impacts our triple bottom line and how we are holding ourselves to the highest possible standard for all three measures of a successful business.
The most important information we provide in our yearly annual report is our profit statement. Without running a smart, financially successful business, we won’t have the resources to provide for our community and the environment. To see the full data we have assembled, click on either of the images above to get an expanded version of the report.
In 2017, we brought in $4.3 million in sales, and were able to make a net profit of $104,888, for a 2.4% profit margin (grocery stores are famous for having to run incredibly slim profit margins to remain in business, and we are no exception).
What did we do with our largest yearly profit EVER as a community owned cooperative? Well, we reinvested it into growing our store to better fill the needs of Northern Nevada. The majority of investment went into our new cafe, The Food Shed. We also invested significantly in growing our food hub, DROPP (Distributors of Regional and Organic Produce and Products) so we could continue supporting more and more local farmers and ranchers. We also invested in a much-needed security camera system, and rebuilt our crumbling patio to keep our customers safe (and to keep the shopping cart movement to a less deafening decibel).
Looking back at 2017 is also a great way to take what we’ve accomplished and apply it to our future growth. Last year our amazing board of directors took the time to put together a four year strategic plan to guide our big picture decision making. This way, we will be able to make sure our decisions are the best we can make to support our local community!
So, on the above 2017 Annual Report, we included some fun facts about local sales through the store, like the hundreds of gallons of Sandhill Dairy’s milk that we sold through the store to our wonderful customers. However, those numbers only tell part of the story – When the report was due we were so busy and exhausted in working to get the Foodshed Cafe Open that we left out thousands of units of data from entire departments…the main one being DROPP, our local food hub!!! In relooking at all of the stats we realized that we had actually sold and moved thousands of pounds of local food that wasn’t factored into our annual reporting. Obviously this is a huge bummer because that is the number one area that we pride ourselves in, SUPPORTING LOCAL PRODUCERS.
We apologize for the blunders and hope that you will accept the consolation prize of having a really awesome locally sourced Cafe in your favorite city.
Without further adiue, here are the corrected local sales for the annual report (Full report found here or link in bio) https://www.greatbasinfood.coop/2017-annual-report/
NEW STATS FROM DROPP – 1489.25 gallons of milk sold, rather than just the 483.25 that we sold in the store from Sandhill Dairy out in Fallon, NV
NEW STATS FROM DROPP – 722 lbs of local shiitakes and oysters sold from Mountain Mushrooms behind Bordertown, NV
NEW STATS FROM DROPP – 1383.38 lbs of pea shoots sold from New Harvest in Reno, NV
NEW STATS FROM DROPP – 16,089 lbs of local and regional tomatoes as opposed to 4,444 lbs that we sold in-store from many local producers! Thanks to Dayton Valley Aquaponics, Lattin Farms, Bee Here Now, Prema Farms, Greg’s Organics, Mewaldt Organics, Custom Gardens and more!
NEW STATS FROM DROPP – we sold 44,463 local and regional eggs in the store, we are even prouder to say that we sold AND used in our kitchen AND distributed 73,384 eggs in 2017 – more than sixteen dozen eggs a day! Shout out to Bare Ranch, Palomino Valley, Holley Family Farms, Hungry Mother Organics, Rusty Skillet Quail Eggs, Sweeting Ranch, and all of the lovely local duck egg producers!