• 1.General
    General Questions
  • What is the difference between a not-for-profit vs a nonprofit

    The two terms are often used interchangeably however have legal differences.  I prefer the term not-for-profit as a business major because all businesses need to make and/or raise more income than they spend out in order to stay in business.   And it is not that we will not make a profit, it is just that the profit goes to meet the mission and not to owners or shareholders.  However, legally R.I.C.'s Market Foundation is a nonprofit, 501c3 organization.

  • Why do you need such a large space, shouldn't you start small as a proof of concept?

    Access to healthy food is only one part of a much bigger problem.  Across the country people have converted buses and vans to create mobile farmers markets, given money/incentives to gas stations and mom & pa neighborhood stores so they can provide healthier food, etc.  I think these are all great ideas however none are a complete comprehensive plan to address the issues of creating healthy communities.  In order to find long-term sustainable solutions it is going to require some place large enough to be able to provide access, complete balance meals, education, marketing and support.  This model gives us the flexibility to not only do a proof of concept but to continuously test and improve.

  • 2.Food Bank / Food Pantry
  • How is this different from a Food Bank or Pantry

    Unlike food pantries that offer limited options and rarely if ever have fresh meats, seafood and/or vegetables.  R.I.C.'s Market will be a full service grocery store.

  • Is there a opportunity for your organization to work with local food banks or pantries

    Yes, we fully expect to donate to local food banks and/or pantries which will present a win-win for both organizations.  This will help us to minimize waste especially of highly perishable fresh food and expands the number of healthy options food banks and pantries have to offer.

  • 3.Profitibility
  • How will a nonprofit grocery store stay in business when many for profit stores cannot

    The industry average for grocery store profits is about 1-3% which is made using a low-profit, high volume model (in other words making a few cents on lots of items i.e. Walmart and not like making lots of money on a few items i.e. car dealers or jewelry store).  Many stores in poorer areas go out of business because they cannot get the high volume needed but we will be able to make up that volume through fundraising and grants initially but long term by leveraging partnerships and other revenue stream to not only make enough to be sustainable but to expand.

  • 4.Uncategorized
    There are no questions in this category

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