Our transition to a worker-owned cooperative provides a unique opportunity for local supporters of Downtown Sounds to invest in the business. To help fund our (the co-op’s) purchase of the business from the original owner, we are selling non-voting equity shares in Downtown Sounds Workers Co-op.
The future of small business is a democratic one in which workers share in the vision, decision-making, and profits. The future is now! Co-op structures can increase a worker’s sense of integrity, connection, and incentive to stay for the long-term. Broadly speaking, there’s also new trend of resources, organizations, news coverage, and encouragement for the current wave of retiring Baby Boomers to convert their small businesses into worker-owned cooperatives before they go.
Staff members purchase a single share of common stock each to become a worker-owner. The common stock grants the rights of a single vote and a share of business profits to each worker-owner. Worker-owners will govern the co-op, serving as Officers and Directors. On a day-to-day observable level, the operations at the store remain the same, with each worker-owner being responsible for a particular department or element of the business.
• Shares of non-voting preferred stock are available only to Massachusetts residents.
• Minimum investment: $2,500.
• Investors receive a target annual dividend equal to 3% of their investment; however we cannot offer assurance that a dividend will be paid in any given year.
• Investors receive a 5% discount on merchandise.
To receive our Offering Memorandum packet, please fill out our Google Form!
This is not an offer to sell or a solicitation of any offer to buy any securities. Offers are made only by prospectus or other offering materials. There are risks associated with an investment in our company and you should not invest unless you can afford the loss of your entire investment. The Commonwealth of Massachusetts does not recommend or endorse the purchase of these securities.