Wandering down the aisles of my local grocer, I spot the tell-tale packaging of Chomps Snack Sticks and snag a couple of Jalapeño Turkeys. Maintaining its strong market presence and responding to ever-increasing demand is no small feat. Luckily for the meat brand, it’s doing all of this and more, recently landing on the Inc. 5000 list for the third year in a row.
To find out more about how this company manages to remain self-funded and successful, I turned to Pete Maldonado, CEO and Co-Founder.
“From the start, we’ve kept a keen eye on profitability. We knew our numbers before selling a single stick, and we’ve never lost sight of the bottom line since,” Pete expressed. “One guideline we’ve stood by is hiring no more than one full-time employee for every $1 million in revenue. We currently have over $2.5 million in revenue per employee, so we’re staying way below that threshold. Finally, something that has helped us prosper since our inception all the way through these challenging times is focusing on our e-commerce business. This year, e-commerce will make up about 45 percent of total revenue. We built a loyal fanbase starting there, and it continues to grow, ultimately supporting our velocities in retail.”
Being included on the Inc. 5000 list is understandably an honor for this family-owned business, and speaks to the determination it brings in growing the brand year-over-year.
Another way that Chomps continues to bring value to the market is by expanding its retail distribution throughout the pandemic, which is getting its products from both the Chomps and Chomplings lines on additional shelf space.
“Despite challenges faced with COVID, we’ve had some very exciting new placements in retailers across the country this summer—some of our biggest to date. Between July and August, we launched in Sprouts, Walmart, and Kroger and have a few more coming in the next few months including Whole Foods Market global. We’ve also expanded distribution in the majority of our current retailers, which is one of our key growth strategies,” Pete noted.
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