Letter from our General Manager - Mark Jacob
Dear Owners,
First off, I just want to say thank you to you all for supporting Wheatsville! It is a great time to be part of your coop and to support local businesses. Over the last year and half I have gotten to connect with many of you whether it be through email, our virtual Meet the GM series or even in person and so many of you have shared your stories of what Wheatsville means to you. Thank you.
This last June, myself and the members of the Senior Leadership Team presented our business plan to the whole organization. Every staff member, from the produce clerks to kitchen managers was given a clear vision of where we are headed for financial success and given the opportunity to share feedback. I would like to share some of those key areas with you and even celebrate some succsess.
People Matter – At the Co-op we stay focused on our staff, owners, and community. Below are some key updates.
- Turnover – With turnover in the food industry averaging over 130% according to the Bureau of Labor Statistics, we are very proud we have been able to keep turnover below 75% at Wheatsville. Being able to do this during a time many are seeing record turnover numbers is a key indicator to how our staff feel about working here.
- Internal Staff Promotions – 70% senior leadership have been internally promoted, 78% of department managers have been internally promoted and overall, we are close to 80% all internal promotions. We are proud to work with our staff to develop their talents and grow their career. If you are looking for a career with growth opportunities, Wheatsville is a great place to be.
- Pay and benefits – We are proud to offer an average hourly wage of over $15 per hour for front line staff and a competitive benefit package. In addition to two paid holidays, we were able to celebrate our added paid holiday of Juneteenth for the second year in a row. Stay tuned for some exciting pay and staff benefits enhancements we are working to have ready by April 2022.
- Customer Scores – We average an 81% overall satisfaction for our customer scores ranking us as a leader amongst cooperatives at the national level. We want to remain your favorite place to shop so please keep the feedback coming.
Financial Health – Part of our Ends statement is to ensure a robust cooperative economy. Below is how we are doing in some key financial metrics.
- Sales growth – We are seeing weekly sales growth for the first time in years, other than during initial panic buying from Covid19. Thank you so much for being part of Wheatsville’s growth! We are just getting started!
- Profit – We were able to do what unfortunately so many other small and local businesses were not able to do during this pandemic and that is stay open. Words can’t express how painful it is to see so many local businesses close. But even with the hardest challenge we have seen in years we were able to show a modest profit. We have even started off our new fiscal year in what appears will be a profitable one.
- Though our profit may seem small we are grateful to the staff and customers that helped us earn it. As Wheatsville again begins to gain strong financial footing we look forward to all that we can accomplish such as supporting our staff, store renovations, growing our store count, and of course continuing to give back to our community.
Where does the money go we spend at Wheatsville?
• Roughly 24 cents of every dollar you spend at Wheatsville goes back to our staff to ensure we can offer a competitive wage and strong benefits package.
• Roughly 62 cents of every dollar goes to our cost of goods we purchase to sell to our shoppers. Wheatsville’s focus is on ensuring our producers, farmers, and suppliers are paid a fair price for their goods.
• Roughly 14 cents of every dollar goes to the other items such as rent, electricity, and other basic expenses.
• After it all, we have a goal to end up showing 1 to 2 percent of total sales as profit this year.
Here are some things to remember as to why co-ops are a great place to spend your money. We focus on staff benefits, fair pay for farmers and producers and supporting the local economy. We will do all we can to continue to be fair priced while also ensuring we stay true to fair pay for everyone in the supply chain from farm to shopper.
Thank you all for being part of our Co-op! It is because of you we are doing great and thriving for our local community.
- Mark Jacob