Luncheon a success: Community Store moves $18K closer to its goal
Adirondack Daily Enterprise
Nov. 15, 2007


By HEATHER SACKETT, Enterprise Staff Writer

SARANAC LAKE — Community members filtered in and out of the Community Store office on Depot Street at lunchtime on Wednesday, buying shares and asking questions.

The open house, which offered attendees a free lunch, as well as the opportunity to purchase shares, ended with the Community Store more than $18,000 closer to its goal. According to Community Store Board President Melinda Little, after tallying Wednesday’s total, they have sold $169,300 in shares since they launched on July 18. The store must sell $500,000 or 5,000 shares to move forward with the process. Shares cost $100.

“We had a very good day,” Little said.

Saranac Lake resident Joe Mercurio said he had heard that an anonymous investor had promised to match the funds raised on Wednesday up to $5,000 so he stopped by to make a contribution to help ensure the Community Store could get the full $5,000 amount.

“We are really committed,” Mercurio said. “I would really like to see this thing go forward.”

The idea for the Community Store was born from a need to fill what board members see as the retail void in Saranac Lake. Its business plan is modeled on a community store in Powell, Wyo., “the Merc,” which has been financially successful since it opened five years ago. The store plans on stocking things that have been traditionally hard to find in Saranac Lake at affordable prices such as clothing, baby items, linens, towels, fabric and craft items.

Since the Community Store announced it would begin selling shares about four months ago, the board members have had to tweak their approach to better accommodate the community. They have found that although they have been keeping regular office hours at the Home Energy building on Depot Street, selling shares has been most successful at community events.

“I’m such the eternal optimist, I thought people would be knocking us down to buy shares,” Vice President Gail Brill said.

“We envisioned people finding us,” Little added. “When we have been out in the community, like at the Block Party, that type of event has worked very well for us. We found it’s important for us to be out there and be able to answer those questions.”

When the store launched in July, the plan was to raise the money within a six month time limit, now the board says they will be seeking a six month extension. They have not yet announced a location for the store, but said they would like to build or rent a 5,000 square-foot space in downtown Saranac Lake.

Another method that has proved effective for selling shares is “Share Parties.” Little said friends, family and community members have been stepping up to host parties where they invite all their acquaintances and give them an opportunity to buy shares as well as socialize. Little explained it brings the Community Store to those who might not otherwise know about it.

The Community Store is still accepting suggestions on what residents would like it to stock. Brill said she envisions some of the items, like baby clothes, for example, being made by local craftsmen.

“How wonderful to have it made locally, sold locally and bought locally,” she said. “It keeps the money floating around Saranac Lake.”

A limiting factor is that in order to buy a share, you must be a New York State resident. This eliminates those who are out-of-state seasonal residents of Saranac Lake and the Adirondacks from owning a part of the store. Brill said an alternative to buying a share would be to make a contribution to help cover advertising and overhead costs.

Little said the board members are going to keep the momentum of Wednesday’s successful sale going by continuing to have events throughout the month. This Saturday from 5 to 7 p.m. Bluseed Studios will host the Community Store and on Friday, Nov. 23, the Community Store will have an all-day open house at its office on the second floor of the Home Energy Building on Depot Street. Regular office hours are Monday 9 to 10:30 a.m., Wednesday 11 a.m. to 12:30 p.m., and Thursday 5 to 6 p.m. For questions or more information call Melinda Little at 891-0197 or Gail Brill at 891-0182.

Contact Heather Sackett at 891-2600 ext. 24 or

hsackett@adirondackdailyenterprise.com.
Section: News        Date Posted: 11/15/2007

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