Ep 14. How Cooperative Businesses Operate

Ep 13. Engineering Industrial Pumping Systems
February 9, 2019
Ep 15. Commercial Financing 101 with Ashdown Capital
February 23, 2019

Ep 14. How Cooperative Businesses Operate

 

If you want to know how something works, talk to someone who has experience. If you want to know where something is going, talk to to someone who is passionate and high energy. Greg Hallett is all the above, with 40 years working in the Co-op business model and serving multiple positions spanning from Gas Bar Manager with Calgary Co-op to now Project and Facilities Manager with Otter Co-op. During the interview Greg unpacks and simplifies Otter Co-op’s bulk petroleum division, how members benefit, how purchasing decisions are made, and how executives manage one of the most economically resilient business structure developed in history.

To understand a Co-op you need to first understand that members actually own the business and that if the co-op is profitable (based on how much product members or non-members buy) a percentage of those profits get paid back to the members. Greg walked us through how this system gives members buying power but also serves as a long term investment with annual returns.

Later in the show we drilled down to specifics and examined Otter Co-ops Petroleum Business which includes gas stations, bulk petroleum storage facilities, fuel delivery services, and even a petroleum refinery plant. Greg has served as both a Bulk Petroleum Division Manager and  Petroleum Division Manager for over 5 years with Otter Co-op and was a Gas Bar Manager with Calgary Co-op for 18 years. Within the outlining the basic structures and business strategy to maintain a sustainable petroleum division, he also discussed the challenges of delivering fuel to complex sites such as large farms and implementing systems to coordinate locations with delivery drivers and the purchaser as well as required fuel quantities. Greg goes on to explain that although coordinating such a system has challenges it is crucial to operating efficiently by limiting delivery time and ensuring accurate amount of fuel is being transported daily.

 

As part of the Otter Co-op leadership team Greg was also happy to share his experience how to get everyone on your team going the same direction with a unified goal. He discussed plans to further expand their portfolio and continue to build a sustainable organization for their members. We hope you enjoy the interview and would like to thank Mr. Hallett for sitting down with us to share his knowledge and experience, and most importantly to be a voice of industry.

 

 

 

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