Durham Central Market seeks additional investors to reach $1M goal

Now that its future location in Self-Help’s Kent Corner development has won approval from the Council, DCM is free to focus on the little things. Like paying the bills:

Since our investment drive started in late April, we are 80% of the way to our $1 million overall investment target. We have the funds to start construction, but still need further funds to acquire working capital and ensure that we can stay open prior to breakeven.

So, that’s nearly two hundred thousand bucks remaining to be raised. That seems like a lot, but with construction on the site imminent I have to think they’ll see an influx of interest while the project ramps up. There are essentially two ways to contribute: become an owner (one hundred bucks) or become an investor (five hundred bucks a share, minimum two shares).

DCM’s public-facing information on owner benefits is somewhat sparse at the moment. My best guess would be that they will emulate Weaver Street’s model, where owners have a say in elections, and have the opportunity to receive store discounts and dividends.

If you’re interested in participating, the DCM annual meeting will be Sunday, Oct 13, at 5pm.

2 thoughts on “Durham Central Market seeks additional investors to reach $1M goal”

  1. “DCM’s public-facing information on owner benefits is somewhat sparse at the moment.”

    There’s an understatement.

    Also, how about providing reasons that their model will work at this location now where it failed years ago?

    Details about what the building will look like? What kinds of goods and services they expect or want to provide? Opening hours?

    Succesful Kickstarter projects give more public detail over 1 month than this crew has given over many years …

    1. Self-Help has posted renderings, and detailed site plans were submitted to the city during the approval process. You can get a good idea of what it will look like from those. I’ll try to dig up a link.

      As for why they hope to succeed were the intergalactic food conspiracy failed, I’ve heard them address that but don’t see it in writing anywhere. Personally I’d say their facility is dramatically better /larger, they’re starting with a good bit of capital, and they’re targeting a much broader market. The local food movement is pretty strong at the moment and the Farmer’s Market isn’t always open.

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