Drag Queens, DJs, & Performers Co-op To Buy The Stud!
Via – The Stud Collective
Good News San Francisco – A group of drag queens, performers, DJ’s, bartenders and LGBT business leaders announced today that they have formed a Co-op and secured funding to purchase the iconic Stud Bar and save it from closure.
“I’ve made the choice to move forward with transferring ownership of the bar to The Stud Collective based on the diverse, multitalented, qualified group that they represent. If these awesome folks can’t make it work, no one can,”
said the current bar owner Michael McElhaney who is selling the Stud after 25 years. The 15 members Stud Collective formed quickly after news that the 50-year-old Legacy business was in danger of shuttering due to rent hikes.
While most members of The Stud Collective are known for their work in nightlife and the performing arts, secondary business skills were a requirement to join the co-op. Members include leaders in bar and restaurant management, public relations, accounting, historic preservation, arts funding, and land development.
“The real-estate market shows no signs of slowing down. If historic businesses are going to survive, our community will have to innovate,” said co-op spokesperson and popular drag queen VivvyAnne Forevermore. “And that’s exactly what we’re going to do.”
Working with Supervisor Jane Kim and the Mayors Office of Economic and Workforce Development (OEWD) the Co-op is creating a co-op business model that will maximize the Stud’s profits and will keep the business healthy and open despite a recent 300% rent hike.
“We can’t underestimate the importance of the Stud to the LGBT community,” said SOMA Supervisor Jane Kim. “Not only has The Stud been the site of important artistic and political events, it currently serves one of the anchor business for the future Tenderloin/SOMA LGBT Heritage District. I’m honored to be helping lead the efforts to make sure the Stud is open for another 50 years.
“Legacy Businesses like The Stud give our city its world renown character and are a major driver of tourism,” “said creator of the Legacy Business Registry, Supervisor David Campos. “Making sure that historic small business like The Stud are able to weather changes in the real estate will keep our city healthy and diverse.
“We have the funding, resources and talent to make The Stud a profitable, successful business,” said Forevermore. “We hope the new building owner will give us the chance to sign a market value lease and allow us to keep this historic bar a space where everyone is welcome.