Our pricing policy in the store is based on quality (including rare goods), condition, and seasonality. We also price items based on whether something is a necessity like clothing and housewares, or whether it is a luxury item (art, jewelry and collectables). All necessity items are priced for people on a budget. Luxury items are researched and valued by weight for gold and silver, or assessed by an outside expert to determine market value.
Eighty percent of our merchandise is priced at $3 and under. In addition prices are further reduced over time on stock that hasn’t moved.
GIRO’s Social-Enterprise Model
GIRO Is unique Among the Gulf Islands because it is a self-funded organization. Unlike other southern Gulf Island depots, we do not receive on-going funding from our regional district to help run our operation. We do, however, receive various grants from the Regional District of Nanaimo, to support special projects such as the construction of our new Re-Store facility. Other recycling depots rely on 50 percent of monthly revenue from their local district to cover the shortfall of the expenses to collect, process and transport recyclables.
At the end of 2018, the Re-Store accounted for 53 percent of GIRO’s revenue, the clothing department generated 24 percent, and the combined revenue from all the programs used by the recycling department accounted for 23 percent.
Some of the services we offer, like the metal bin, are run at a loss, which is why we ask for a small donation at drop-off. This policy could change once metal prices improve. The recycling waste stream is very complex and is affected by world markets: some commodities can be handled at a profit, while others cost money to process.
Your continued support through donations and purchasing used goods, as well as bringing us your blue box contents will help to ensure GIROs longevity.
Our main aim is to continue to divert as much waste as possible from the landfill, as well as to educate islanders as to what they can recycle and how to reduce their footprint.
Thank you for your continued support. It is always appreciated !
