[Lincolnparkdc] Save Mott's Market! - update

Wed Apr 6 15:55:13 EDT 2022

I have looked through the website and its linked resources but haven't
found the answers to these questions -- at least not written anywhere
obvious. Apologies if this has already been covered, but I'm struggling to
understand some of the basics.

   1. As far as I can tell, this effort is not actually to save an existing
   business or support the previous ownership/livelihood of the Cho's. It's to
   start a new one, essentially. There would be new owners. New employees. New
   investors. Correct?
   2. Would the Cho's be selling any of the business to the new "owners"?
   (Including fixed assets -- e.g. point of sale software, cash register,
   shelving, inventory, etc.) Would they be advising (for a fee)?
   3. Who exactly would be running the business? What is this person or
   group of people's experience and capacity to do so? What profit or salary
   would they expect? How will the group make decisions? Who's in charge? Who
   will do the work?
   4. Would the business hire employees? What kind of compensation and
   management structure will be in place? Will they have opportunities for
   profit-sharing? Would investors be ok with that?
   5. Related to the above, could this be structured like a social
   enterprise, with an aim to offer steady employment to groups that face
   barriers (e.g. returning citizens, BIPOC, veterans, etc.)? Have goals or
   values like this been considered on a mission or a structural basis?
   (That's something I could get behind...)
   6. What kind of return on investment can investors expect, and on what
   timeline? How is this codified? What is the legal pathway/agreement for
   investing?
   7. What is the legal infrastructure for this venture? Is a group forming
   an LLC? Have they taken the steps to register with the city, or do they
   know what this process entails?
   8. Is the business viable? If the previous owners found the business no
   longer profitable/viable, do the new prospective owners have an
   understanding of why (not just COVID, I'd presume)? Has anyone seen the
   books?

I get that the answers to many of these questions are TBD, and investors
won't require all of these details, but I'd want to have a sense of at
least some of them in order to invest. I suspect there are others who feel
the same way.

Final thought. I don't mean to rain on anyone's parade. It's a lovely idea
on many levels. And I love the idea of a community coming together around
something. I love the principle of community-owned and co-owned. And my
hats off to all those who have worked so hard on this. But the cynic in me
says this is just a nostalgia move, to preserve some history and maintain
convenience for neighbors. But saving people a few blocks walk to get
last-minute staples and preserving an old corner market may not be enough
of a rallying cry for some. Is this truly a public good? Whom does it
benefit most? Personally, I'd love to pour my support behind saving the
livelihood of a current business owner who is struggling. Maybe walk a few
extra blocks to Eastern Market to support some of those businesses (many of
which are BIPOC owned and have struggled during COVID and the arrival of
Trader Joes)... Again, it's a lovely idea. But I find myself asking the
hard questions. Doesn't mean I don't wish everyone on this effort well.
Just means, I'm having a hard time investing in it myself. But I'd be happy
to learn more or have my mind changed! And regardless, I truly wish
everyone well in this work!

Thanks,
Cricket

On Wed, Apr 6, 2022 at 2:14 PM Catherine Schoenwetter <
cathy at schoenwetter.net> wrote:

> Hello Neighbors,
> A group of neighbors formed SaveMottsMarket (mottsmarket.com) just before
> Mott's closed, to engage neighbors in preserving the long-standing market.
> The group will be presenting a bid for 233 12th St SE (Mott's) this
> Friday.  As they are going up against developers, they need to present as
> strong a bid as possible!  If you are interested in investing, please email
> SaveMottsMarket at gmail.com as soon as possible.  Thank you!
> Best,
> Catherine
>
> On Mar 29, 2022, at 2:04 PM, mary ann <maryann.brazell at gmail.com> wrote:
>
> 
> Someone should call ABRA to see if possible to get the license. ABRA
> charges 1300/year for wine/beer and I think $2600 for beer/wine and hard
> alcohol.
>
> On Tue, Mar 29, 2022 at 11:42 AM Marche' Maine <markrichardgrace at gmail.com>
> wrote:
>
>> It would be great if it could sell liquor with competitive pricing.
>>
>> On Tue, Mar 29, 2022, 5:37 PM mary ann <maryann.brazell at gmail.com> wrote:
>>
>>> Hi all-
>>>
>>>  I have owned The Cupboard for almost 10 years (1504 East Capitol St).
>>>
>>> My thoughts:
>>> - Is the plan to buy the building and then have someone rent upstairs
>>> apartment?
>>> -Who will run the store? Will need to have someone to oversee
>>> deliveries, supplies for the store. Deal with ABRA for the wine, DCRA for
>>> permitting, accountant, cash management, payroll etc. And someone to
>>> oversee running the store will make more than minimum wage.
>>> - would you keep rent at the same level? Thought I saw that it was
>>> $3500/month. Are there escalations in contract? Do we know if that includes
>>> property tax?
>>> -Assume people have been in touch with owner
>>> - clearly pandemic cost them business but would need to see p&l and tax
>>> return to see if was just pandemic or has been losing $ for years.
>>> - investments by community- i am assuming people want a return on that $
>>> or is it more of a donation? If a return is expected- need to look at it as
>>> a loan and factor that in to the monthly expenses.
>>> -should figure out what else to add to inventory to make $- hard
>>> alcohol? Small deli or even bring sandwiches, bagels in to sell…
>>>
>>> I love MOTT’s and was sad to see it close.
>>>
>>> Anyway just some initial thoughts
>>>
>>> Mary Ann
>>> 142 13th St SE
>>>
>>>
>>> On Tue, Mar 29, 2022 at 11:18 AM Paul Krupa <paul.krupa at gmail.com>
>>> wrote:
>>>
>>>> I support this effort. Anxious to learn more.
>>>> Paul and Jessica
>>>> 159 Kentucky Avenue
>>>>
>>>> Sent from my iPhone
>>>>
>>>> On Mar 29, 2022, at 10:29, Helene Monteil <hmonteil73 at gmail.com> wrote:
>>>>
>>>> 
>>>>
>>>> Same here!
>>>>
>>>> On Tue, Mar 29, 2022 at 7:32 AM Catherine Schoenwetter <
>>>> cathy at schoenwetter.net> wrote:
>>>>
>>>>> Thank you for your efforts. I saw the building and property being
>>>>> measured when I walked by last week, and hoped it hadn't been sold
>>>>> privately.  Looking forward to updates on how we can help.
>>>>> Catherine
>>>>>
>>>>> > On Mar 28, 2022, at 10:53 PM, Noah Bopp <noah_bopp at yahoo.com> wrote:
>>>>> >
>>>>> > Neighbors,
>>>>> >
>>>>> > You're going to hear a lot more about this in the future, but many
>>>>> of us participated in a call tonight about saving Mott's Market, a beloved
>>>>> corner store at 233 12th
>>>>> <https://www.google.com/maps/search/store+at+233+12th?entry=gmail&source=g>
>>>>> Street SE that has benefited our neighborhood for 80-90 years. Tomorrow, a
>>>>> developer is likely to submit an offer to purchase the property and convert
>>>>> it to something other than its current use (likely condos).
>>>>> >
>>>>> > Though we have no ill will toward any developer, we are eager to
>>>>> preserve a bit of old Capitol Hill and maintain the convenience and
>>>>> camaraderie that Mott's has long provided.  And we have enough momentum
>>>>> (and funding) to put up a fight.
>>>>> >
>>>>> > As I said, much more to come. But if you are interested in helping
>>>>> us, please contact me, Scott Davis, Christine Campbell, or Jordan LaCrosse
>>>>> (all CC'ed here). We have already raised substantial early funds and have
>>>>> many volunteers, and we could certainly use more early investors and
>>>>> advocates.
>>>>> >
>>>>> > Thank you, and long live Mott's!
>>>>> >
>>>>> >   --Noah
>>>>> >
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