Softstar Becomes Employee-Owned
From humble beginnings in 1985, through 40 years of crafting colorful and comfortable minimal leather shoes, this year marks a special achievement for the elves at Softstar Shoes. I am thrilled to announce that Softstar is officially a 100% Employee-Owned company!
Softstar transitioned to employee ownership using a model called an Employee-Owned Trust (EOT). While this is a common employee-owned business model in the United Kingdom, it’s relatively new in the USA and is gaining traction among small businesses. We couldn't be more excited for this next step of our company's journey!
What is an Employee-Owned Trust (EOT)?
A Trust is unique in that it can define our business purpose for perpetuity. For Softstar, the purpose of the Trust is to represent our employees and preserve our mission of crafting sustainable, quality products that promote a healthier world.
Why an Employee-Owned Trust?
Employee ownership models are often associated with an overall financial performance edge over traditional models, as employees have a direct financial stake in the work they do. At a company of our size, almost all of our employees will have the opportunity to participate and rotate through the peer-elected Trust Stewardship Committee. The Trust also ensures the company will never be sold, and all profits will be invested in coworker compensation and the company’s future. This level of certainty allows for more employee engagement and representation in the workplace that they have a democratic voice in. The permanence also sustains local jobs, which benefits our nearby community and helps employee owners build wealth.
Ownership Transition
For the last 20 years, I worked to foster a culture of creative makers where family and friends felt welcome. The workshop was home to my own children growing up, and a culture of connectivity and inclusivity was carefully cultivated. Being "makers" is important as I connect deeply with the satisfaction of making a good product and strongly believe in connecting customers to the people behind it. Over the last several years, I had explored exit options and was attracted to the Employee Ownership model as a way for the company to remain true to its mission. My husband and I had watched other business owners in our family sell their businesses and witnessed first-hand the heartbreak that ensued when everything they had invested their lives in was broken up, run down, or moved out of the community. For my husband and me, Softstar had been a force of good, and we wanted to preserve an employee centric culture and a legacy of quality sustainable products. With the help of Project Equity, a national consulting group that promotes employee ownership, we decided to “trust the Trust” model.
Trish has been an entrepreneur, marketer and maker ever since she crushed her first lemonade stand at age five. Growing up in rural Wisconsin, she spent many summers running barefoot with her sisters. These early memories later inspired her to build a brand which embraced the joy and freedom of childhood with the health and science of minimal footwear.
Trish relishes evolving the company to grow stronger and more competitive with each passing year. She is a frequent expert panelist for both e-commerce and entrepreneurship conferences. Trish enjoys spending time with her family, dogs and ducks on their property in Oregon and loves the proximity to both surf and snow. She has a background in Engineering Physics and an MBA from the University of Chicago.