Chief Operating Officer
Spinning Wheel Brands
The Chief Operating Officer will oversee the Operations and Finance functions for Spinning Wheel Brands.
On the Operations side, key areas of responsibility include managing the supply chain, including multiple copacker and manufacturer relationships at a senior level. Responsibilities include contracting, sourcing redundancy for the supply chain, reducing costs, forecasting demand, production, and cash needs in tandem with the sales team, and overseeing the Operations team, including logistics and fulfillment, and warehouse operations. Key deliverables include managing the operations team, vendor/co-manufacturer network and supply chain to timely and complete delivery of high-quality consumable packaged goods to retailers and end consumers. The Operations team supports the Sales team with effective and timely delivery of all SKUs in effective and appropriate packouts and quality.
The most important experience and skill set for this role for the next 12 months will be building, managing and contracting “top to top” relationships (i.e. relationships with ownership and/or top management at suppliers) and contracts for our products with primary and secondary comanufacturers.
On the Finance side, the COO will structure and build out the finance team and reporting, staffing as required, and will supply financial reporting to the Board of Directors, investors, and CEO.
Additional responsibilities include establishing best practices from internal process, dashboard, and reporting standpoints; managing current bank AR factoring relationships and targeting building relationships with banks to grow from AR financing to LOC and inventory financing, eventually ABL; ensuring finance organization manages to lender reporting requirements and covenants. Critical: Regular, timely, and accurate financial reporting to CEO and BOD, as well as investors.
In the intersection between Finance and Operations, the COO will oversee/manage costs and ensure efficient and timely and effective deployment of capital on inventory and goods, and plan/forecast in tandem with sales team and finance lead.
Role is on the senior management team, together with the CEO/co-founder and CSO/co-founder. The other founding partners are the Creative Director and Operations and Commercialization Director.
The COO role is a critical position to the Spinning Wheel Brands the team, as the company is growing by 300%+ YOY, and tactical execution is critical to success as we scale.
Education, experience, & requirements:
- Direct experience managing and sourcing co-manufacturer and copacker relationships for food or beverage products with a limited shelf life required.
- Supply chain management for products with a limited shelf life required (under 1 year/more than 3 months)
- Top to top negotiations experience in building and managing supplier relationships
- Contracting experience – managing negotiations and developing contracts with key vendor partners.
- Forecasting and responsive supply chain management
- Financial management and reporting experience required, including experience with financial processes – developing/instilling and/or following.
- Minimum 10-15 years of business experience; at least 5 years in the food/beverage space.
- Experience in tactical fast-growth company situations required, where rapid scaling is essential.
- Position requires tactical, hands-on management.
- Must be able to juggle multiple priorities and objectives for rapidly growing and evolving organization.
- Advanced degree (beyond bachelors) is a plus, not required.
- Strong written & verbal communication skills required
- Able to work effectively to deadlines
- Enjoys fast-paced, ever changing environment as company grows by 200-300%+ per year
- Able to shift priorities fluidly, in tandem with evolving business demands
- Comfortable with multi-tasking
- Self-starter/able to work without extensive management oversight
- Candidates under consideration will be required to successfully pass full background, credit, and criminal checks before receiving a job offer.
Compensation & benefits:
- Base salary will be in line with market and experience
- Compensation to include benefits (healthcare, 401k match, FSA), bonus; may include options/equity compensation
- This position is located at Spinning Wheel Brands’ HQ in the Edgewater neighborhood of Chicago. Ideally situated to the North Shore and city of Chicago, with onsite parking and Red Line ‘L’ access (1/2 block from Thorndale stop). Candidates must be available and onsite at our Chicago office daily; commuting or working remotely is not possible in this role. Priority given to candidates with daily commutes of 45 minutes or less. We do not offer relocation.
About Spinning Wheel Brands, LLC:
Spinning Wheel Brands was founded in Chicago, IL in 2016 by four experienced food & beverage professionals and entrepreneurs. We identify the ‘next big thing’ opportunities in hot food & beverage grocery retail categories and design and execute world class products and brands that are in sync with retailer and consumer interests. We focus on building brands that are clean label, sustainable, on trend, and above all, delicious!
Through a shared services backbone, the Spinning Wheel Brands team develops and scales multiple brands simultaneously into retail markets leveraging and omni-channel approach, including grocery, mass, online, club, and alternate channels.
Brands launched by the Spinning Wheel Brands team include Mozaics organic popped veggie & potato chips, Hope & Sesame organic sesamemilk, Handfulls innovative nut snacks, and Copious Brands shelf-stable Mediterranean snack portions. Spinning Wheel Brands also comprises the deliciousness.com (D2C) and marvelousfood.com (B2B) online platforms.
Each food & beverage brand is built to exit individually to a strategic partner at the point at which ACV and gross retail sales velocity reach a threshold level.
The Spinning Wheel Brands team is dedicated, hard-working, and focused, jovial, professional, and supportive. We value tactical execution, creative and strategic thinking, and a proactive approach to addressing problems and building out a world-class suite of brands. Team is currently 11 members strong (4 founding partners + 8 team members), across Sales (3), Marketing (2), Operations (4), Finance (1), Administration (2). The COO role will play a critical part in shaping a fast-growing organization, rolling our world-class products nationally and internationally.
Spinning Wheel Brands is backed by a supportive team of equity investors, aligned with management in growing the company to the best exits and capital returns for all shareholders.