The Rochdale Society or
Equitable pioneers was made up of a group of 28 weavers who collaborate with
other artisans in Rochdale, England to form the first known co-operative
society in the year 1844.
As the mechanization of
the Industrial Revolution wad forcing more and more skilled workers into poverty,
these tradesmen decided to band together to open their own store where they intends
to sell food items, they could otherwise afford. With lessons from prior failed
attempts but with co-operation of mind, they designed the now famous Rochdale
Principles, and over a period of four months they struggled to pool together
one pound sterling per person for a total of 28 pounds of capital. On December
21, 1844, they opened their (the first ever co-operative shop) with a very
meager selection of butter, sugar, flour, oatmeal and a few candles. Within
three months, they expanded their selection to include tea and tobacco, and
they were soon known for providing high quality, unadulterated goods.
Before
deciding to bring themselves together ads a co-operative group the weavers
faced miserable working condition and low wages; hence they could not afford
the high prices of food and household goods in their time. They were also not
recognized nor assisted by the stronghold of their society. On this ground,
they succeeded by pooling their scarce resources together to acquire goods they need at reasonable price. In
the beginning of their business venture, they were having only four items for
sale. Which are:-
1.
Flour
2.
Oatmeal
3.
Sugar
4.
Butter.
The
pioneers decided to add value to their products in a systematic way. By
treating shoppers with honesty, openness and respect, as they believed that
this will be enable these customers to partner with them, because they were
having only meager fund to administer to their investment. Hence they needs
affiliate partners. Their openness \and transparency encourage the partners to
feel free partnering with them. As they were very sure that they will
apportioned their normal share in their profits made from the investment, and that
they will also have a democratic right to have a say in the business.
Every
customers of the shop became a member/partner and so, had a true stake in the
business. At first the first co-operative was open for only two nights a week,
by within three months of operation, hade grown so much that customers of the
shop urges that is should be open five days a week. The products from the
market was marked in the vicinity.
The
principles that corroborated their way of doing business are still accepted
today as the foundations upon which all co-operative operate. These principles
have be revised and updated, but remain
essentially the same as those practiced in 1844.
