A worker co-op is a business that is owned by all or almost all of the people who are employees. Each member of the co-op has one vote. Usually, co-ops elect a board of directors from among themselves that sets policy and oversees management. The worker-members share any surplus (profit) at the end of the year based on how much they worked. 

The big difference for a worker co-op is that the ownership is spread out among a lot of people. If a worker-member (owner) wants to go on vacation, the other workers can pick up the slack. If a worker-member wants to retire, they can just retire! They don’t have to close out the business. Workers also have a voice in the policies, working conditions, and budgeting so they can design a workplace that supports them.

Unlike our annual academy, this program is specifically designed to business owners seeking to convert their Olympia-based business to a cooperative ownership model. People may audit, but core services will be for business owners and their employees or a consumer seeking to convert the business to a cooperative.  We will cap this number at 5 businesses.

For the 5 businesses selected who have committed to converting in 2022, there is no cost due to the support of the City of Olympia (this is a $10,000 value) Other costs have not been finalized and there may be a charge for auditing or for other participants.

The Academy is a 10-week boot camp that will assist an existing business with everything it needs short of legal and accountant review to sell the business to either the employees, consumers, or a mix of the two. In addition to the class sessions, the 5 businesses selected will receive 1:1 Technical assistance through the 10 weeks and for six months following the class sessions to help them through the conversion to cooperative ownership.

We hope that each business includes a “buyout committee” consisting of the current workers (and/or consumers) of at least three people. The selling owner should also attend at least the first couple of sessions to get a better sense of the process as well (the owner can be on the committee but will need to step out at certain intervals due to conflict of interest).

A worker co-op is a business that is owned by all or almost all of the people who are employees. Each member of the co-op has one vote. Usually, co-ops elect a board of directors from among themselves that sets policy and oversees management. The worker-members share any surplus (profit) at the end of the year based on how much they worked. 

The big difference for a worker co-op is that the ownership is spread out among a lot of people. If a worker-member (owner) wants to go on vacation, the other workers can pick up the slack. If a worker-member wants to retire, they can just retire! They don’t have to close out the business. Workers also have a voice in the policies, working conditions, and budgeting so they can design a workplace that supports them.

Unlike our annual academy, this program is specifically designed to business owners seeking to convert their Olympia-based business to a cooperative ownership model. People may audit, but core services will be for business owners and their employees or a consumer seeking to convert the business to a cooperative.  We will cap this number at 5 businesses.

For the 5 businesses selected who have committed to converting in 2022, there is no cost due to the support of the City of Olympia (this is a $10,000 value) Other costs have not been finalized and there may be a charge for auditing or for other participants.

The Academy is a 10-week boot camp that will assist an existing business with everything it needs short of legal and accountant review to sell the business to either the employees, consumers, or a mix of the two. In addition to the class sessions, the 5 businesses selected will receive 1:1 Technical assistance through the 10 weeks and for six months following the class sessions to help them through the conversion to cooperative ownership.

We hope that each business includes a “buyout committee” consisting of the current workers (and/or consumers) of at least three people. The selling owner should also attend at least the first couple of sessions to get a better sense of the process as well (the owner can be on the committee but will need to step out at certain intervals due to conflict of interest).