A decade into its run, what can BreadHive teach us about the possibilities of worker-owned food businesses?
A decade ago, Allison Ewing and others founded BreadHive, a worker cooperative that has fed its signature West Side sourdough, bagels, pretzels, and more to Buffalo ever since. A familiar face to Elmwood Bidwell summertime market shoppers, Ewing will join me Monday on the Four Bites Show.
Besides making gorgeous baked goods, BreadHive is another example of a Buffalo business that works for workers, because they built it that way. It’s also another customer-funded success story, with its bagels and bread available at both Lexington Co-ops, Farmers & Artisans, and Guercio’s, and on the menu at many local restaurants.
BreadHive grew with help from customers, 40 community investors who put $65,000 in an initial public offering, and were paid back with interest. Customers will invest where banks won’t.
To help fund expansion from its Baynes Street bakery to a Connecticut Street retail space with bagel sandwiches and coffee, the bakery offered a second round of 40 shares. They sold for $1,000, entitling the holder to a 3 percent annual return and a year’s bread subscription.
Another West Side establishment, Five Points Bakery, was built with customer investments too. A few miles south, Yankee BBQ is making a similar pitch to its fan base.
Ewing will explain what she and her fellow worker-owners are up to, what cooperative businesses are good and not-so-good at, and more lessons gleaned from a decade of making dough in Buffalo. Here is the link for the 6:30 p.m. Monday, March 11 conversation.
#30#
