Skip to main content
Brought to you in partnership with Power to Change and the Architectural Heritage Fund

Community co-operates to save a local store: George Street Community Bookshop

Case study

Published
30th October 2020
Topic
Co-op development
Image
George Street Community Bookshop

George Street Community Bookshop in Glossop, Derbyshire, was established by a small group of friends in 2018 to help save the local second-hand bookshop. It’s now run as a co-operative, staffed by one employee and a team of volunteers.

To raise funds for the lease and re-design of the shop to make it more accessible, the co‑operative ran a share offer from November to December 2018. They raised £25,150 from 126 investors from the local community and beyond. The Community Shares Booster Programme matched that amount pound for pound, allowing the group to raise a total of £50,000, their maximum target. Director Jonathan Atkinson said: 

Quote mark
It’s been such a positive experience working with Booster. The flexibility and freedom of the Booster Programme is great.
– Jonathan Atkinson, Director, George Street Community Bookshop

How did they do it? 

When the local second-hand bookshop was going to close, a group of residents got together to see if they could keep it going. They wanted it to be run by the community, for the community. So they launched a quick Crowdfunder campaign, raising £2,000 to cover start-up costs and begin business planning. They also ran public meetings to gauge the level of interest from the community.

A development grant from the Community Shares Booster Programme helped them prepare for the share offer and gain the Community Shares Standard Mark (a mark of a good quality share offer before designed to promote public confidence in community shares).

Image
George Street Community Bookshop
Quote mark
The advice and support from the consultants were really useful. It was reassuring to have the Standard Mark kite mark and the match funding was absolutely brilliant as it makes a really good sell to investors.
– Jonathan Atkinson

“We raised the money we needed quicker and we raised more through community shares than we would’ve done via a loan. It’s great having all these members having a stake. They will be customers as well as members,” said Jonathan. 

Find out more about George Street Community Bookshop: 

Website | Twitter | Facebook

Want to know more about Community Shares?
Related content