Dear SPC Owners,
At SPC’s recent Annual Meeting, I mentioned that our Direct-to-Consumer retail website AlaskaGoldBrand.com is earning roughly $3 per finished pound net profit over what we earn via wholesale sales. I also noted that SPC treats Alaska Gold as a separate company and that Alaska Gold is SPC’s 11th largest customer by volumelast fiscal year. I’m working to get Alaska Gold into the top 10 precisely because the program has been earning co-op owners an additional $3 per finished pound.
Board member Tad Fujioka rightfully pointed out to me that I was understating Alaska Gold’s impact for the Co-op. A better way to look at the program’s success might be in terms of % of net profit for the Co-op. Right now, we’re forecasting that Alaska Gold, following the pace it has been on over the last 10 months, will earn $150,000 in net profit for SPC for fiscal year 2020. Considering that SPC’s net profit for last fiscal year was $900,000, that makes Alaska Gold have the potential to be responsible for roughly 17% of net profit for the Co-op (assuming SPC returns the same profit as last fiscal year). Alaska Gold doesn’t move huge volumes of fish, but we move the pounds profitably.
Another item to note is that the more pounds we move through Alaska Gold, the more profitable the website is. In our biggest month last year volume-wise, we were earning $4 per finished pound net profit.
A couple of SPC owners have noted Alaska Gold’s success and are promoting it to earn commission. Matt Stroemer’s family runs Captain Juju’s in Sitka and will be handing out the below postcards at his family’s food truck. Customers that place orders on the Alaska Gold website using his customized coupon code get 5% off and Matt will get 10% commission on their orders. This is a win-win for Matt and the Co-op. I am glad to make a postcard for other owners who would like to both promote our retail website and earn a commission.
We have a built-in shipping infrastructure and customer service and efficiently ship our fish to home consumers across the country. Alaska Gold brings a tremendous product with great customer service to the entire country.
Let me know if you’re interested in helping earn more money for you and your co-op and participating in this project.
Dear SPC Owners,