You still take all the risk because the bank is going to say they won’t give a loan to a new company without a track record, unless someone is willing to be a guarantor.

Now you share the profits, but all the risk is yours.

Unless you have a bunch of people lined up to start the co-op and they’re all willing to pitch in or become guarantors with you, in which case it might just work - but again, the initial people are going to have more skin in the game than the rest.