Waimanalo Market loads up its crate for 2010

WAIMANALO—The Waimanalo Market, which sells local produce to raise community funds, has big plans for 2010. Its bi-monthly markets began in August 2009 and have already generated almost $1,600 in profits to be fed into non-profits and community services in Nalo Town.

With five months of operations under its belt, the group met to reconsider its business model.

Co-founder Kehaulani Padilla said, “Currently, we’re a retail co-op,” which basically means the members are the owners.

However, retail co-ops, she explained, exist to serve the producers as a profit entity.

“We’re a very different animal,” Padilla said. “We’re mission-driven, so we should be a non-profit.”

Holding a 501(c)(3) status also allows the farmers to sell the produce at a reduced price and write it off, thereby increasing the market’s profit percentage and feeding more money back into the community.

Between August 2009 and December, the market made gross income of $7,796.51 with a 35% profit margin. They paid $350 in general excise tax, as well as state and federal taxes, money the market members agreed ought to be fed back into the community directly, and could have been, if they had 501(c)(3) non-profit status.

The motion to apply for NPO status passed unanimously.

The market also discussed expanding its coverage. “We would like to expand our vendors,” added Padilla.

Also upcoming is a collaboration with an economic development class, at University of Hawaii, where students will receive their practicum by volunteering at the market and getting involved in finessing the board and business plan.

“It’s going to be really, really fantastic,” anticipated Padilla.

Jeff Alameda, of Empower Oahu, facilitates such education and gave a guest lecture on the subject.

“Micro-economics classes only work once the community is involved,” Alameda said. “It’s about giving a better idea of what the costs of living and doing business are. We’re cultivating the next generation of leaders and business owners. And this isn’t a one-time thing. The students are the future mentors for the program.”

Padilla continued, “We want to get the youth involved because [the market] really is for them,” indicating the original mission statement of feeding the profits back into the community where it needs them.

In addition to non-profit status, increasing revenue, and collaborating with schools, the Waimanalo Market plans to do some grant writing in 2010 to have a few concrete positions.

“We hope to be a more frequently occurring market, ideally seven days a week,” Padilla said. “We want to write bylaws, set up policies, procedures, records.”

One thing is for certain; the market started strong and is gaining momentum.

“We’ve gone too far for it to stop now,” Padilla said.

For more information, visit WaimanaloMarket.com.