Benefits may include a service otherwise not available, advantages from volume purchasing or sales, or distribution of profits based on member use of the cooperative. If you are interested in forming a cooperative, the first step is to learn all you can about cooperatives. This includes the legal, economic, and financial aspects of cooperative business. Getting the help of a cooperative development specialist, an attorney, and an accountant will increase your chances for success. A cooperative development specialist can help coordinate a new venture from conception until the operation is running smoothly.
Careful planning increases the chances of success.
Hold an exploratory meeting with others who have a similar interest and determine whether you have common needs and desire to address those needs as a group. Where To Get Help USDA Rural Development offices in some States have a cooperative development specialist on staff who can help you avoid the pitfalls experienced by many businesses during incorporation and their early years of operation. D.C. Cooperative Services has a staff of professionals who may help you organize a cooperative and provide technical assistance to existing cooperatives.