Beer Business Finance

In today's podcast you'll hear the audio version of our Wholesaler Financial Round Table meeting. This month's topic is on financial analysis techniques and wholesaler financial benchmarks. Summary of Key PointsFinancial analysis basics: How to focus on the most important numbersHow to follow a financial month-end process to speed up production of the financial statementsStandard set of reports and financial benchmarks ResourcesConnect with RJ Martucci at PKF O'Connor Davies, RMartucci@pkfod.comSign up for the FREE wholesaler financial newsletter 

This podcast is all about how to reduce finished product loss (FPL) in your beer business. Bud Dunn from VxP shares best practices, training ideas, and a cool software tool to help you significantly reduce out of code beer in your business. Step 1: Calculate how much FPL costs your business each year (probably around 10cents/CE)Step 2: Reach out to Bud to see how you can reduce your FPL to 2-3cents/CEStep 3: Enjoy the savings!SummaryUse VxP to grow volume, profit, and reduce finished product lossCommon causes of finished product loss and how to avoid themBest practices to manage code dates on packagesResourcesConnect with Bud from VxP and learn how to save $100K in your beer business this year, bud@vxptech.comGet the FREE wholesaler financial newsletter

Today on the podcast we hear from Dan Lust, Beverage Industry Consultant with Pints, LLC.Dan and I review the top challenges facing the industry and share data analytics, business planning, and performance measurement tactics for distributors and breweries. SummaryHot topics: Tariffs, pricing, and the importance of sales trainingStrategic growth planning tactics for breweries Tools to make data-driven decisionsKeys to brewery-wholesaler business relationshipsResourcesConnect with Dan at Pints, LLCGet the FREE beer wholesaler financial newsletter

Today on the podcast we talk all-things truck leasing with Jenn King, Field Sales Manager from Penske.The lease vs. buy question is a big one when it comes to your truck fleet. Jenn gives us a high-level overview of how truck leasing works, what's included, and a tool to perform a cost analysis so you get the best scenario for your business. Key PointsLease vs. own analysis tool - how to make the best financial decision for fleet managementHow to remove risk, increase uptime, and improve budgeting for fleet costsIntangible benefits of full service leasing: DOT inspections, warranty work, safety services, substitute vehicles, and licensing of the fleetResourcesConnect with Jenn King at Penske to learn more, Jennifer.king@penske.comSubscribe to the FREE beer business finance newsletter

In our beer wholesaler business we used a self-funded insurance plan to save millions of dollars over the cost of traditional fully funded health plan. In today's podcast, Erin Butler of BevCap Management will show you how to do the same in your beer business. Key TakeawaysWholesalers in the BevCap group save $640 per month, per employee compared to the average fully funded insurance premiums. This works out to a savings of $7,680 per year, per employeeExample: Beer wholesaler A has 100 employees, saves $7,680 per employee = $768,000 savings...every year65% of covered workers in the U.S. are in a self-funded planOwners and CEOs take note: Managing your health insurance and achieving massive savings isn't just the job of HR, it's a leadership issue. Take the first step to learn more about captive insurance. Your income statement (and your employees) will thank you.ResourcesConnect with Erin Butler to learn more about captive health insurance plans: ebutler@bevcapmanagement.comGet the free financial training newsletter from Beer Business Finance

Today on the podcast we hear from Bob Higgins of P3 Cost Analysts. Bob and his team specialize in identifying and reducing over-spending in your business.We talk all things expense management, cost reduction strategies, and share ideas on how your wholesaler business can save money.HighlightsBob's process for identifying and eliminating unnecessary expensesBiggest cost-saving opportunities that companies commonly overlookThe most surprising savings P3 has been able to secure for clientsTrends in business expenses today, and where breweries will need to focus their cost-saving efforts in the futureResourcesConnect with Bob, bhiggins@costanalysts.comGet the free wholesaler financial training newsletter

Today on the podcast we hear from Dave Williams, the Analytics Czar from Bump Williams Consulting.Dave provides a recap of 2024 beer industry data, trends, and insights. We also cover “Dave's Top 7”. These are the hot topics that he's been hearing about recently in the beer business.Key PointsGrowth in non-alcohol beer and ready-to-drink productsOn-premise resultsHealth guidelines and the impact of tariffsTrends in cannabis and crossover brandsResourcesConnect with Dave, dave@bumpwilliamsconsulting.comSign up for the Beer Business Finance newsletter. Financial tips and tactics to build a stronger beer business, delivered straight to your inbox.

Today on the podcast we hear from Rebecca Maisel from Gulf Distributing. Rebecca is the Senior VP of Legal and Governmental Affairs and recently elected Chair of the National Beer Wholesalers Association. Rebecca and I talk about how to become a world class beer wholesaler, her vision for wholesalers to adapt, grow, protect, and invest, and how to continue to innovate in the beer distribution space.Topic SummaryKey focus areas for beer wholesalers in legal and governmental affairsBest practices for portfolio managementOperations and technology initiatives implemented at Gulf Distributing How to organize and streamline supplier contractsResourcesConnect with Rebecca, rmaisel@gulfdistributing.comSign up for the free Beer Business Finance newsletter - Financial intel delivered straight to your email inbox

Today on the podcast NBWA's Chief Economist Lester Jones breaks down beer sales data from 2024 and provides an outlook for 2025. Key PointsHow did beer do in 2024? What is the data telling us? Total beer sales / consumptionOn / Off premise trendsSurprising trends and predictions for 2025Tariffs, inflation, and interest rates...what does it mean for beer sales in 2025?ResourcesConnect with Lester Jones, ljones@nbwa.orgGet the free beer business finance newsletter

In today's podcast you'll get best practices, tools, and inspiration to build your 2025 beer wholesaler financial plan.Topics Covered:Open Q&A: What is your BIG budget challenge right now?3 Steps to take right now to build a great budgetBudget prep outline template to keep you organized6 Budget questions you need to answerSample wholesaler budget templates - sales, GP, OPEX, etc.​Key TakeawaysHow to overcome analysis paralysis in the budget processTactics to consolidate multiple business entitiesBest practices to overcome the 'unknowns' of financial planningOne wholesaler's process to achieve a 2-day financial closeResourcesIf you need 1-on-1 help to create your best beer wholesaler budget ever, learn more about my financial coaching package. We'll work together to build your 2025 financial plan.

Today on the podcast we dive deep into the world of supplier incentives. What they are, how they work, and how to get alignment between these incentives and bottom line company goals.SummaryHow supplier incentives fit into the bigger picture of compensationThe ideal compensation mix: Base, commissions, PFP, and supplier incentivesThe complexity of managing different categories of supplier incentives: Volume, placements, facing, displays, etc.The potential for misalignment of incentives: Is the supplier incentive aligned with your wholesaler business goals?How VxP helps you calculate, measure, and manage supplier incentives ResourcesConnect with Bud Dunn to learn more about how VxP can help manage supplier incentives and sales compensation - bud@vxptech.com

Today on the podcast we hear from Sean McLaren and Adam Bush from OMAC Beverage Advisors.OMAC has worked on hundreds of transactions in the beverage industry, and understand the unique considerations for these types of deals. Sean and Adam share insights and analysis on the state of wholesaler consolidation, trends in valuation multiples, and best practices to make ready for a sale.  SummaryMultiples of EBITDA steadily rising from 7x-9x to 10x-15xAnnual transactions remain consistent at 20-30/annuallyThe main driver of business sales: Family dynamicsResourcesConnect with Sean and Adam: sean@omacbeverage.com, Adam@omacbeverage.comLearn more about OMAC Beverage Advisors

Tom DeMayo is a partner with PKF O'Connor Davies, specializes in cybersecurity, and is a self-described 'ethical hacker'.Cybercrime is a $10 trillion problem globally, and beer wholesalers are target.In today's podcast, Tom shares how these crimes occur, how to find out if your company is vulnerable, and what steps you can take right now to prevent a ransomware attack.  Key PointsTerms defined: Dark web, deep web, surface web, ransomwareHow hackers break in to your systems and what you can do to prevent thisBasics of compliance testing and risk assessmentTips for creating and managing those pesky login credentials The case for a cybersecurity committee ResourcesConnect with Tom and learn how to protect your beer business from cybercrimes, TDemayo@pkfod.com

Want smarter wholesaler analytics to get better results?Then you'll want to learn more about VxP, the best tool for guided selling strategies to increase sales and gross profits while decreasing finished product loss.A powerful 1-2-3 combo to supercharge your income statement.In this recorded workshop you'll learn how VxP provides the tools for real-time execution, automated workflows, and smarter analytics.Workshop OverviewReview of VxP: Who it's for, why it's important, how it works, and the problem it solves.Compensation planning process: What considerations are made prior to diving into a comp plan? What are the typical components of comp? How are components prioritized? How does VxP align compensation between route sales/team lead/sales management?Look under the VxP hood. We build sample compensation structures using a blend of base, commission, bonus, and pay for performance.Hear success stories. Results that have been achieved. And they are impressive $$$.Do This Next...Watch the sales workshop video belowListen to the Tapped In Podcast, Sales and Strategy for Beer DistributorsLearn more about VxP and join over 1,500 high-performing distributor sales reps. Book a demotoday, or reach out to Bud Dunn directly, bud@vxptech.com, c: 269-317-5209

Today on the podcast I'm joined by Orman Anderson, CFO from Glazer's Beer and Beverage, and RJ Martucci, a partner with PKF O'Connor Davies.You'll hear the audio version of our NBWA presentation on A Practical Guide to Beer Wholesaler Mergers and Acquisitions.Our presentation covers four key issues -Target identification: Selling or buying, who are you valuable to, and who is valuable to youDue diligence: Research, homework, what you need to doValuations and models: Current market, quantitative and qualitative measurementsPost acquisition: What happens after the deal is done, and how to combine the right wayDo this next:Learn more about the Beer Business Finance Association, we are a network of beer industry professionals who come together to network, share ideas and best practices to build a stronger beer business

Today on the podcast we hear from Lester Jones, Chief Economist for the National Beer Wholesalers Association. Lester takes us through his 2024 U.S. Economic Outlook and Beer Industry Trends report. His bottom line: "The economy is resilient, people are spending money, just in different ways. We need to react to that in a dynamic way."  Key PointsHow to make data driven decisions using macro economic and market dataConsumer purchasing trends on-premise and off-premise (total spending away from home now exceeds at home spending)Labor and productivity data results and analysisResourcesDownload Lester Jones' U.S. Economic Outlook and Beer Industry TrendsLearn more about the beer wholesaler financial network

Today on the podcast we talk mergers and acquisitions and wholesaler consolidation with RJ Martucci from accounting firm PKF O'Connor Davies. Key PointsHow to generate the maximum return on a saleStrategies to make the sale tax efficientState of mergers and acquisitions in the beer industryPrimary motivations for sellersResourcesLearn more about PKF O'Connor DaviesGet the free beer business finance newsletter

Today on the podcast we talk wholesaler mergers and acquisitions with Orman Anderson, CFO for Glazer's Beer and Beverage. Orman is a former investment banker with Bear Stearns and JP Morgan, and has done multiple transactions as CFO for Glazers. So, this man knows his stuff. In our conversation, we dig in on how Glazer's conducts it's acquisition due diligence, establishes valuations, and considers financing options. If you're thinking of buying (or selling) your beer business, this podcast is for you. Key TopicsValuation methods and multiplesBest practices when using a brokerHow to finance an acquisitionHow to forecast and achieve consolidation synergiesPurchase and sale agreement basicsResourcesConnect with Orman Anderson on LinkedInJoin the network of beer professionals, the Beer Business Finance AssociationGet the free beer business finance newsletter 

In today's podcast we talk about the beer distributor health insurance captive with Natalie Witmyer from Bernie Little Distributors and Lee Anne Klas from BevCap.Natalie shares how Bernie Little has benefitted from the captive with cost savings and improved benefits for employees. Lee Anne tells us what a captive health insurance is, how it all works, and how distributors can use this approach to save money. Key TopicsCaptive health insurance 101: Benefits, structure, keys to successDebunking common myths and misconceptions around captives (too much risk, one big claim can sink the ship)Natalie's advice for beer distributors who may be interested in a captive health insurance programResourcesConnect with Natalie Witmyer at Bernie Little Distributors, natalie.witmyer@bldonline.comConnect with Lee Anne Klas and learn more about BevNet and the beer distributor captive insurance group, LeeAnne@bevcapmanagement.com

Today on the podcast we hear from Scheppers Distributing President Joe Priesmeyer and Bud Dunn from VxP.In Joe's words, "We had a severe finished product loss issue in our business..."  Joe shares Scheppers's challenges managing out of code and close to code product, and how VxP helped to significantly reduce this expense. Key TopicsIncentive structuresThe volume x profit commission modelSuccess stories from Scheppers using VxPResourcesConnect with Joe Priesmeyer, jpriesmeyer@nhscheppers.com, cell: 573-489-2830Connect with Bud Dunn, bud@vxptech.com, cell: 269-317-5209Learn more about the Beer Business Finance Association

Health insurance is one of the biggest expenses on your income statement. And every year that expense just keeps going up. In today's podcast we hear from John Kirke, President at BevCap Health.  John leads BevCap Management's healthcare captive team, client services and growth strategies empowering clients to create value for their organization through healthcare benefits sponsored in stop loss captives.In a nutshell, John helps beer distributors save a lot of money on their healthcare expenses. Key TopicsTerms simplified: Fully funded, self-funded, and captive insuranceAdvantages of captive insurance for employees and employers (spoiler alert: significant cost savings and a better health plan for all)Financial considerations to understand before joining a captive health insurance groupResourcesGet in touch with John Kirke at BevCap, jkirke@bevcapmanagement.comLearn more about the network for beer industry professionals

In today's podcast you'll hear the audio version of a recent webinar focused on how to grow wholesaler gross profit, reduce finished product loss, and redefine your distribution strategy in 2024.Bud Dunn from VxP talks through the features and benefits of a new sales tool that will help you increase gross profits, decrease finished product loss and super charge your sales team.ResourcesConnect with Bud to learn more: bud@vxptech.comJoin the new finance group for beer wholesalers

Today we hear from RJ Martucci from PKF O'Connor Davies, accountants and advisors. RJ and I talk about a wide range of subjects including  the current economic conditions facing beer wholesalers, 2024 budgeting strategy, KPIs, as well as tax credits and deductions you should take advantage of. Key TopicsBeer wholesaler budgeting strategiesHow to measure performance: KPI leading indicatorsWholesaler revenue and cost driversTax credits and deductions you need to know aboutResourcesLearn more about PKF O'Connor Davies accountants and advisorsConnect with RJ Martucci on LinkedInGet the free beer business finance newsletter

In today's podcast Bump Williams shares an early read on the BWC growth strategy survey.The results are...surprising.The survey is sent to hundreds of retailers, wholesalers and breweries, and asks one simple question:  What are your strategies for growth in the upcoming year?The results are tallied, sorted by the most common answers, and analyzed to determine overlap amongst the companies in the 3-tier system.One of the goals of the survey is to identify where there is alignment or common growth approaches in the 3-tier system. And where there isn't. One big takeaway: The results show a lot of misalignment.What does misalignment look like? Past surveys have shown breweries focused on innovation, while distributors focus on core brands, and retailers emphasize high-end products.  Hard to grow when everyone is rowing in a different direction.Listen in as Bump breaks down the survey results and provides guidance and action items for beer industry companies looking to build effective growth strategies for 2024.Key PointsTop 3 growth strategies for retailers, wholesalers, and breweriesThe divergence of growth strategies keeps getting widerHow beer industry companies can use this information to align their own growth plansResourcesLearn more about how Bump Williams Consulting can help with your growth strategyJoin the network of beer industry pro's

The Oakland A's baseball team used data-driven decision-making to build a competitive team despite a limited budget compared to wealthier teams. This approach came to be known as "Moneyball" and was popularized by author Michael Lewis in his book of the same name."Moneyball" explores themes of innovation, data-driven decision-making, and challenging the status quo in the world of sports.In today's podcast, Bud Dunn from VxP explains how beer distributors can adopt a moneyball approach to sell more beer. Key TopicsHow to move from "subjective" to "objective" selling "Inspire and enroll"...It's the new command and controlTactics to gain a volume x profit mindsetHow to avoid easy placements and gain the right placementsResourcesConnect with Bud Dunn and learn more about VxP: Bud@vxptech.comLearn more about the beer finance network

In today's podcast we hear from Orman Anderson, CFO for Glazers Beer and Beverage.Orman shares his process for financial analysis, budget planning, key metrics to track, and compensation planning.  Key TopicsWholesaler financial planning tacticsKey metrics Glazers followsCompensation planning strategiesGlazers software stackResourcesLearn more about Glazers Beer and Beverage or connect with Orman Anderson Join the network of beer industry finance professionals

Today we talk sales compensation planning with the leadership team at Stokes Distributing. Sparkman Walker, President, Matt Mumme, VP of Sales and GM, and Chris Leonard, CFO, share their experiences, challenges and benefits they've seen since partnering with Volume x Profit (VxP). Key TopicsHow Stokes Distributing reduced finished product loss by 90% Best practices to implement a change in compensation plansHow Stokes uses data to make better business decisionsResourcesConnect with Matt Mumme, VP of Sales and GM: matthew.mumme@stokesdistributing.comContact Bud Dunn to learn more about VxP: bud@vxptech.comJoin the Beer Business Finance Association, a network of beer industry professionals

Distributors are always on the lookout for ways to reduce costs and increase sales. In today's podcast we talk with Bud Dunn from VxP, who shares a tool that you can use to reduce finished product loss by 50% or more, and increase gross profit per CE by 20 cents or more.  Key TopicsVolume is good, profits are better, how to use VxP to increase bothHow to align sales rep incentives with overall growth of the businessHow to get suppliers involved with incentives and co-op dollarsResourcesLearn how to increase gross profit by 20 cents per CE in your businessCheck out the new network for beer wholesaler financial professionals

Today we talk about navigating current market challenges and brand slumps with Bud Dunn from VxP. These days, beer wholesalers have a doozy of a "brand slump" with the Bud Light debacle.  Bud and I talk about tactics and strategies that distributors can use to navigate the current chaos, and overcome future brand slumps when they occur.  Key TopicsFactors that cause a brand slump, and what to do when it happensTactics, strategies and best practices to deal with a brand slump  How to use VxP as a tool to identify market opportunities and overcome challengesResourcesRead the article: Strategies for beer distributors to master market shiftsGet the FREE beer business financial newsletterLearn more about the Beer Business Finance Association

The goal of our new wholesaler finance group is to bring people together to solve problems, overcome challenges, and share best practices.In our virtual meetings we talk about the key issues facing beer wholesalers: how to build a better sales compensation plan, ideas to manage expenses, next generation succession planning, and gross profit management to name a few.Key TopicsHow to achieve budget accountability through manager trainingTactics and specific ideas to reduce costsResourcesLearn more about the Beer Business Finance AssociationSign up for the free beer business finance newsletter

In today's podcast we hear from VxP's Bud Dunn and Brad White. VxP is a tool that can help your beer business substantially improve gross profit. We dig in on this important question: Why are we afraid to show a gross profit to our sales reps?  Basically, all other industries do it, why not beer wholesalers?Key TopicsMost common reasons why owners in the beer industry are hesitant to share gross profit information with their sales repsBeer company's that have successfully implemented a program to share gross profit information with its sales teamHow sales reps can use knowledge of gross profit margins to make better decisions about pricing, promotions, and other sales-related activitiesResourcesLearn more about how VxP can transform your sales teamSign up for the free beer finance newsletter

In today's podcast we hear from Lester Jones, Chief Economist and VP of Analytics for the National Beer Wholesalers Association.  Lester's job is to track everything quantitative, economic and demographic about the beer industry. And today he shares what happened in 2022 and his outlook for 2023.  Key Questions Asked and AnsweredHow did beer do last year? What's the outlook for 2023? What is the data telling us? How can beer wholesalers use this information to increase sales?Key TopicsTotal beer consumption On / Off Premise trendsSales growth by product segmentInflation, cost pressures, and supply chain issuesResourcesCheck out the Beer Purchaser's IndexGet the beer wholesaler financial training newsletter

Today we hear from Bart Watson, Chief Economist for the Brewer's Association. Bart breaks down 2022 beer data, shares trends, volume and market share on the beer industry.Key TopicsBeer data and trends to watchOn premise vs. off premise volume and growthTrends in pack counts, sizes, formatsBrewery openings and closingsBart's forecast for 2023ResourcesLearn more about Bart's work with the Brewer's AssociationGet the free wholesaler financial training newsletter

Today we hear from Everlance CEO Alex Marlantes.  Everlance helps beer wholesalers modernize their vehicle program and lower costs without creating an administrative burden. If you have a vehicle reimbursement program, you'll want to hear what Alex has to say about how to re-claim the tax waste for your business and your employees.  Key TopicsCommon mistakes beer wholesalers make with vehicle programsTips to automate painful everyday tasks, and help people save time and moneyThe high cost of tax waste and how you can get it backHow Del Papa Distributing saved money with EverlanceResourcesLearn how Del Papa saved money with EverlanceCalculate the tax waste associated with vehicle programsLearn more about how Everlance helps beer distributors Sign up for the beer industry financial training newsletter

Today we hear from Todd Grote and Rick Flagg from OnTrak Software, who give a demo of POS marketing software management tools for Beer Wholesalers.Ten of the Top 20 Beer Wholesalers depend on OnTrak solutions every day. In this podcast you'll learn how they do it.Key TopicsTools to closely monitor your investments in POS marketing assetsHow to significantly reduce costs while increasing accountability with suppliers and customersHow to verify draught system compliance and measure tap handle market shareResourcesLearn more about OnTrak SoftwareGet the finance newsletter for beer wholesalers

In today's podcast you'll hear the audio version of our recent webinar on How to Build Your Beer Wholesaler Financial Plan.We'll review how to put together your sales plan, gross profit, operating expenses and bottom line.Key TopicsFinancial planning best practicesBudget pitfalls to avoid6 Steps to build your financial planTips to overcome the 'overwhelm' when preparing a budgetSpreadsheet models and tools to get you startedResourcesLearn more about the Beer Wholesaler Financial Professionals associationGet the free finance newsletter for beer wholesalers

In today's podcast you'll learn about a new organization called Beer Wholesaler Financial Professionals. Beer Wholesaler Financial Professionals is the ONLY national network created specifically for those driving and ensuring your business financial performance. It's an organization of financial pros, like you, looking to improve financial results, increase profitability, connect with peers, and share best practices. ResourcesLearn more about Beer Wholesaler Financial Professionals   

In today's podcast we hear from Bud Dunn from VxP Tech and hear about financial metrics for beer wholesalers. What numbers should you track? Who should have key metrics? How do you automate the reporting process?Key Topics5 Best practices to design your KPIs5 Watch outs (pitfalls) with tracking and measuring KPIsBud's Favorite KPI metrics for beer wholesalersResourcesWatch the webinar replay: Financial Metrics Dashboard for Beer WholesalersTo schedule a demo of the dashboard software: Email Bud@VxPTech.comSign up for the finance newsletter for distributors

In today's podcast we hear from Brad White from VxP Tech.  Brad  shares a proven and profitable compensation program for distributor sales teams.Topics covered:The key drivers of financial performance: Gross profit, volume and finished product lossHow to link these key drivers to sales compensationHow to automate compensation programs using technologyResourcesLearn more about VxP Listen to our first podcast with Brad: How to Pay Your Sales Team on Gross ProfitSign up for the finance newsletter for Beer Wholesalers

Craig Purser is President and CEO of the National Beer Wholesalers Association. Today we hear his perspective on the state of the beer industry, get a recap from the recently concluded legislative conference, and learn more about the Next Generation Leadership Conference for emerging leaders. Key TopicsCraig's perspective on the state of the beer industryHighlights from the NBWA legislative conferenceNext Generation Leadership Conference for emerging leaders  Strength, resilience, innovation, evolution amid intense competition and challenging market forces.ResourcesLearn more about the BREW initiativeSign up to receive the finance newsletter for beer professionals

NBWA economist Lester Jones joins the podcast today with an update on 2022 beer sales trends to help you prepare for the summer selling season.Key TopicsEarly beer sales trends for 2022...and what they mean for your businessLester's expectation for the beer summer selling seasonHow to combat the headwinds: inflation, supply chain issues, labor challenges...Learn about the NBWA compensation and benefit studyResourcesLearn about the Beer Purchaser's IndexSign up for the finance newsletter for beer industry professionals

What if you could pay your frontline sales reps based on what really matters to your business?In today's podcast, you'll learn how.Brad White from GP-Analytics joins us to explain how to use the VxP Compensation System to build a comp plan based on the key drivers of profitability in your beer business: Gross profit, volume and FPL (finished product loss).  Key TopicsTraditional wholesaler compensation programsCommon problems with comp plans, and how to fix themHow the VxP Compensation System is differentThe key drivers of financial performance: Gross profit, volume and FPLResourcesLearn more about the VxP compensation systemContact Brad White to learn more: brad@vxptech.comGet the finance newsletter for beer industry professionals

In today's podcast we hear from Lester Jones, chief economist for the National Beer Wholesalers Association.Lester provides a recap of 2021 and his outlook for the beer industry in the year ahead.In our conversation we dig deep into the data and review the key topics for beer wholesaler owners and managers:Total beer consumption in the USPackaging trends, and the outlook for cans, bottles and draftForecast for on-premise businessPast, present and future of seltzersLester also shares his favorite beer industry reads, and provides tips to use US Census data, labor statistics, and TTB reporting to better analyze your market. Subscribe to Beer Business Finance. The Weekly Finance Newsletter for Beer Wholesalers.

Today we are going to talk about goal setting and New Year's Resolutions. We'll talk about a framework you can use to create goals that stick.We'll look at systems, models, and techniques you can use to set your goals and achieve them in 2022.Key TopicsBusiness Plan Goals...Start with your Core Values (what do you stand for?)Financial Plan GoalsSWOT AnalysisProcess vs. Outcome GoalsThe 3 Step Secret Weapon for 2022 (Eliminate, Automate, Delegate)ResourcesLearn more about the book Re-Work by Jason Fried from BasecampTim Ferriss on a technique to become more productive in 2022Sign Up for the Free and World Famous Beer Business Finance newsletter

In today's podcast we hear from Kim McKinnish, CFO and SVP of the National Beer Wholesalers Association (NBWA).Kim and I talk about a wide range of topics including the mission of the NBWA, membership benefits,  NBWA's Next Generation Leadership Group, and the newly launched BREW initiative, Building Relationships and Empowering Women.We also discuss the current state of the beer industry, best practices and business lessons learned during the COVID-19 pandemic.  Key TopicsHow wholesalers can use financial skills to navigate challenges in the marketThe BREW Initiative: Building Relationships and Empowering WomenIndustry consolidation: Key factors behind wholesaler acquisitionsResourcesLearn more about the BREW InitiativeNBWA Membership BenefitsNex Gen Leadership ConferenceSign Up for the World Famous (and FREE) Beer Business Finance Newsletter

The single best way to improve profitability in your business is to measure and manage your gross profit margin. In the podcast we'll take a deep dive into the key drivers of gross profit so that you can improve this critical number. Key Topics Covered in the Podcast:Gross profit fundamentals: Calculations, what's included/excluded in cost of goods soldCost of delivery: Practical application of this calculationMonthly variations in gross profit percentage...and what it meansHow to reconcile the gross profit reports to the income statementForecasting gross margins to drive more profits to the bottom lineResourcesCheck out the book: Beer Business Finance: A Handbook for the Next GenerationLearn more about Beer Business Finance training for your wholesaler businessListen to the podcast and learn the keys to improve gross profit in your beer business.Sign up for the Free and World Famous Beer Business Finance Newsletter

Inventory is a huge asset for beer wholesalers, and it consumes a lot of cash. In today's podcast, we'll review how to use numbers to measure and improve your inventory management plan. Key Topics Covered in the Podcast:How to calculate the total carrying costs of inventory (and cost spreadsheet model)One page inventory count process checklistHow to create an inventory scoreboard to quantify inventory key performance indicatorsResourcesCheck out the book: Beer Business Finance: A Handbook for the Next GenerationLearn more about Beer Business Finance training for your wholesaler businessListen to the podcast and learn how to build an inventory management plan for your beer business.Sign up for the Free and World Famous Beer Business Finance Newsletter

Gross profit is one of my favorite topics. In this podcast, I share the audio from my webinar titled How to Improve your Wholesaler Gross Profit. Gross profit measures how much of each sales dollar is kept by the wholesaler. The math works like this: Sales minus cost of goods sold equals gross profit. On average, about 75% of the sales dollars goes to the supplier, freight carrier and the tax man. So, it pays to pay attention to your gross profit. Key Topics Covered in the Podcast:Key drivers of wholesaler gross profit and how to improve themCommon mistakes wholesalers make with gross profitTips and tactics to increase gross profit in your businessResourcesCheck out the book: Beer Business Finance: A Handbook for the Next GenerationLearn more about Beer Business Finance training for your wholesaler businessListen to the podcast and learn how to efficiently improve gross profit in your beer business.Sign up for the Free and World Famous Beer Business Finance Newsletter

In this podcast we'll review tips, tactics and strategies to help you build a profitable sales plan. The goal is to create a plan with actionable steps to achieve your sales goals. Key Topics Covered in the Podcast:Sales planning fundamentals: Team, timing, and tools to useOpen book management sales planning techniquesHow to align the sales plan with the business planOne page checklists and models to create your salesResourcesCheck out the book: Beer Business Finance: A Handbook for the Next GenerationLearn more about Beer Business Finance training for your wholesaler businessListen to the podcast and learn how to build a profitable sales plan for your beer business.Sign up for the Free and World Famous Beer Business Finance Newsletter

In today's podcast we hear from Guy Amisano, the Founder and CEO of Salient Management company.  Salient created a software solution that puts tools and data in the hands of reps in the field. Salient allows managers to overcome the major barriers to making business activity coherent, transparent, and controllable so that they can determine where to invest time, money and energy for the greatest possible financial return.Topics covered:Using the 'Goldilocks Effect' to get just the right amount of dataHow to put the power of data into the hands of the user to get more done in less timeKey drivers of value: Profit x GrowthResourcesLearn more about Salient Management CompanySign Up for the FREE and World Famous Beer Business Finance Newsletter

Today we talk dashbaords, KPI's and compensation planning with Darin Spence and Grant Barrett from InTrench Consulting. Darin is a former GM and VP at Encompass Technologies, and Grant is a former VP of Sales at Origlio Beverage. Key topics covered:How to manage the supplier / wholesaler relationshipBuilding performance management systemsHow to reward and pay for top performanceDarin and Grant: My favorite KPIs and Key metricsResourcesContact Darin or Grant at InTrench ConsultingPreview the Profit Rx tool Sign-Up for the Free and World-Famous Beer Business Finance Newsletter