Morning:
3°c
Tipplers offered the chance to own their local
30.10.09
A co-operative bar owned and run by its drinkers is being “floated” in central London.
From today “mini-shareholders” can pay £175 for life-membership of the scheme then vote online for everything from the bar's location to the drinks on sale and the interior design.
The five former university friends behind the “My Your Our” venture said it was similar to Kent football club Ebbsfleet United. The club was bought in 2007 by its fans, who make transfer and player selection decisions.
Co-founder James Wilkins, 31, said: “MYO takes the excitement of being involved in management to the next level. You can drink in your bar, but you can't play in the Ebbsfleet team.”
The co-operative needs 2,000 contributions to go ahead. The aim is to put offers in for leases on properties in Tube Zone 1, probably Soho or the City, by the end of January.
The co-owners will all have a say in which venue is chosen.
Reader views (2)
It sounds like the point here is that the customers wouldn't simply be customers given authority, but investment-savvy part-owners due to their initial investment. With a sensible way of sifting through ideas and proposals of members, this could be the next thing in the bar world - who'd bother taking friends to a bar they didn't part-own, as everyone who drinks there makes you money. Sounds like a really good idea to me and I wish the team all the best in taking forward a brave idea that really fits with Gen Y values, and in a tough market.
- Inspired, London
O yeah I'l love to see how this BAD IDEA turns out in the long run. No pub manager in their right mind would start giving any type of authority to their customers.
- Real, London
