explain features of consumer cooperative store?
The following points summarise the features of a consumer cooperative store.
1. It is the consumers themselves who own and manage such stores.
2. Such stores are established with the objective of reducing the number of intermediaries in the transaction process so as to reduce the price of commodities.
3. The commodities are purchased directly from the manufacturer or the wholesaler and sold to the consumers without the involvment of any middlemen or intermediary.
4. It is a voluntary association wherein, altleast 10 people come together and register themselves under the Cooperative Socities Act.
5. As it is a volunatry association its management is democratic in nature.
6. The store raises capital by issuing shares to its members and the liability of each member is limited to the amount of capital contributed by him.