Financial Intelligence Brewed Daily
Today on the podcast we hear from Michael Ly, CEO of Reconciled accounting services. Michael and I talk about why bookkeeping is so important to your brewery business and how to evaluate outsourcing this key function.Key PointsPricing and process for outsourced bookkeepingCommon pitfalls with brewery bookkeepingSoftware tools to keep the financials running smoothlyFinancial standard operating proceduresResourcesLearn more about outsourcing your brewery bookkeeping with ReconciledGet the FREE brewery financial training newsletter
Today on the podcast you'll hear the audio version of our brewery financial round table meeting. Our financial round table is a place to ask questions, get answers, share ideas and best practices.In this episode, we explore tactics, tips and strategies to increase customer traffic, grow average check size, and encourage repeat visitors.Key Points5 specific action steps taproom staff can take to increase profits (with special Guest Star Andrew Coplon from Secret Hopper)5 things you could be doing to grow the bottom line (but probably aren't)Taproom key metrics scorecards and best practices to transform financial resultsResourcesJoin the network of brewery owners and managers focused on improving financial resultsGet the FREE brewery financial training newsletter
Jon Reynolds from Brew Plan joins us today to talk strategic planning and keys to marketing success for breweries. At Brew Plan, Jon works with brewery owners on pricing strategy, market analysis, concept development, and sales forecasting.SummaryBiggest brewery marketing mistakes...and how to avoid themCustomer buying trends and how breweries can position their brands for successSpecific marketing tactics that really move the needle for small/mid-size breweriesResourcesConnect with Jon Reynolds, brewplanmarketing@gmail.comGet the free brewery financial training newsletter
Today on the podcast you'll hear the audio version of our brewery financial round table meeting. This month we focus on how to how to analyze your financial statements to unlock profitable opportunities. In our monthly workshops, brewery owners and managers share ideas and best practices to improve profits and cash flows. To join our membership or learn more, visit the Beer Business Finance Association. SummaryHow to use financial trend analysis to spot problems with gross marginsSimple break-even analysis toolsTactics to present the income statement on a "per barrel" basisResourcesGet the free brewery financial training newsletterLearn more about our network of brewery owners and managers
Today on the podcast we reveal the Secret Formula to Create a Successful Brewery with Jake Lohse, founder of Presidential Brewing Company. Jake is the author of the book Shifting Gears, and founder of the Legendary Success Academy. SummaryThe 4 key factors to a successful breweryCreative funding for a start-up breweryStrategies to bring guests back to your taproom again and againResourcesConnect with Jake, jake.lohse@presidentialbrewing.comListen to the first podcast with Jake: Ultimate Road Map to Create Your Legendary BreweryGrab the FREE brewery financial newsletter
For the first time, in a long time, more breweries are closing than opening. One of the success factors for breweries that survive and thrive vs. those who do not, is a feasibility study. Jon Reynolds from Brew Plan Marketing specializes in feasibility studies, market research, and data gathering. In today's podcast, Jon shares trends, growth areas, and the details of how to build a feasibility study for brewery success. Summary What a feasibility study is and why it's important7 benefits of market analysisResource run-down of brewery data to make informed decisionsResourcesConnect with Jon Reynolds from BrewPlan Marketing, brewplanmarketing@gmail.comGrab the FREE brewery financial planning newsletter
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 brewery can save money. HighlightsBob's process for identifying and eliminating unnecessary expenses Biggest 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 brewery financial training newsletter
This month in our brewery financial round table meeting we take a deep dive into financial standard operating procedures.Financial SOPs help you create complete, timely, and accurate financial statements so that you can make better business decisions.Highlights from our session:Use this hack: Rather than writing out a long SOP, use a screen recorder and show how the process is doneFollow a simple SOP template: Define the goal of the SOP, define how success will be measured, identify a responsible personGrab this Inventory Management SOP templateJoin the conversation with your membership to the Beer Business Finance Association. Monthly financial workshops, access to a library of financial training courses, and network with owners and managers in the beer industry.
In today's podcast we review the Top 12 Financial Challenges facing Craft Breweries. This list was assembled by our network of brewery owners and managers in the Beer Business Finance Association.In the podcast, I review each challenge and provide one thing you can do right now to help overcome the difficulty in your beer business. The Top 12 Challenges:Cost management. How to implement cost controls and identify areas for cost reductionBenchmarking and KPIs. How do we measure up against our peers?Budgeting. How do we help managers own their budget?Employee retention. What can we do to provide more competitive wages and benefits?Succession Planning. How do we thoughtfully implement a succession plan?Gross profit management. What are best practices to actively manage margins?Mergers and acquisitions. How do we evaluate a potential acquisition? Sales compensation. How do we "re-imagine" sales comp to create a system that rewards the right behaviors?Operational efficiencies. How do we achieve improvements in this area and what are best practices?Financial planning. What are the best tools to automate the process?Building a better culture. How do we break down silos across locations and departments so we can operate as one company with a common vision?Financial training. How do we increase financial literacy and understanding of the business?ResourcesGet the free brewery financial training newsletter - financial tips and tactics to help you run a successful beer business
On today's podcast you'll hear the audio version of our brewery lease negotiation workshop. You'll learn strategies and best practices to tackle a lease negotiation (or re-negotiation) for your brewery. Key PointsLease terms, definitions, what you need to knowHow to build 'optionality' into your brewery leaseTriple net lease watch-outsNegotiation strategies and tacticsResourcesJoin the Beer Business Finance Association and gain instant access to financial training courses, resources, and video replays of past training workshops
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 free Craft Brewery Financial Training newsletter. Financial tips and tactics to build a stronger brewery, delivered straight to your inbox.
In today's podcast you'll hear the audio version of our workshop on brewery expense management and cost cutting tactics. We hold these workshops monthly for our Beer Business Finance Association members. If you'd like to join 150+ other breweries in financial success, learn more about membership packages here. Key Takeaways2 cost analysis models to identify and reduce unnecessary spending5 cost cutting tactics to reduce expenses5 initiatives to implement right away to quickly lower costs ResourcesOne of the best books out there on cost-cutting: Double Your Profits in 6 Months or Less, Bob FiferFree brewery financial training newsletter
Today on the podcast Chris Overlay from Get Hoptimized delivers a master class in brewery marketing. You'll learn how to build your brewery sales forecast and super charge results with a best-in-class marketing plan. Key PointsSales forecasting best practicesBrewery revenue drivers and key metrics to simplify planningTools and models to build a comprehensive marketing planTactics to align sales and marketing to achieve revenue goals ResourcesConnect with Chris to super charge your brewery marketing plan, chris@gethoptimized.comLearn more about the financial education network of brewery owners and managers
In today's episode you'll hear the audio version of our 2025 Brewery Budgeting Workshop. We cover questions ranging from how to build your payroll plan to what key metrics to track to the best way to forecast beer margins. Key Points3 steps to supercharge your 2025 financial planBest practices for building your financial key metrics dashboard6 questions to ask before building your budget to ensure successResourcesJoin the network of brewery owners and managers focused on driving financial resultsGet the free brewery financial training newsletter delivered weekly to your email inbox
Today on the podcast we hear from Jake Lohse from Presidential Brewing in Portage, Michigan.Jake has written a new book which serves as a road map for folks looking to open up a new brewery:In Shifting Gears: The Ultimate Roadmap To Crafting Your Legendary Brewery Or Restaurant, I will show you step by step how to pull it all together. Leveraging experience from having built a legendary brewery myself, I will share practical next steps, lessons learned along the way, and tips and tricks to help fast forward the amount of time it takes you to go from zero to 100 miles per hour.Key PointsThe characteristics that set legendary breweries apart from the othersAdvice for new brewers who want to stand out in today's marketHow and when to scale your breweryResourcesCheck out Jake's new book: The Ultimate Roadmap to Crafting Your Legendary Brewery or RestaurantLearn more about the Beer Business Finance Association
In today's podcast I share the 5-step process that I use to assess our financial position, create our goals, and build a road map to success. This process is designed to help you create timely, accurate, and complete financial statements so that you can make data-driven decisions in your beer business. Key TopicsHow to create a process for predictable financial resultsHow to build a plan that allows you to work ON your business not IN itOne book you must read to build a better business plan, and one book you must read to build a better businessResourcesFree mini-course: 5-Step Process Brewing Financial ExcellenceFree Craft Brewery Financial Newsletter
Key metrics measure the most important things in the brewery. Things like sales growth, margins, profits, and cash flow. When identifying key metrics, the first step is to measure what matters. Start with one problem you need to solve or one opportunity to take advantage of. The next step is to build a dashboard of key metrics. Identify one company goal, one KPI that is critical to watch, like cash flow. Then build up the KPIs for each department that support the company goal. Key TopicsHow to use lagging indicators, leading indicators, process goals, and outcome goalsBest practices in choosing key metricsExample scorecards, templates, and dashboardsHow to align compensation and KPIsResourcesLearn more about the Beer Business Finance Association
The average health insurance premium for families and individuals has increased more than 24% in the last five years, according to the Kaiser Family Foundation. And there's no sign of this slowing down.For breweries who want to provide good, affordable healthcare for employees these cost increases are a real problem.One option to lower costs and provide better benefits comes in the form of self-funded health insurance.Speaking from my own experience, self-funded health plans saved our company millions of dollars.Yes. Millions.What exactly is self-funded insurance? How does it work? How do I know if this will be right for my business?You've got a lot of questions, and Erin Butler from BevCap management has answers. Listen to the podcast and check out the resources below to learn more.Key Points65% of covered workers in the U.S. have self-funded health insuranceSelf-funded insurance has been available in the U.S. since 1974, with the passage of the Employee Retirement Income Security Act (ERISA)Bottom line, self-funded insurance is not new nor limited to just a handful of large companiesResourcesWatch the video of my interview with Erin and download the self-funded health insurance presentation deckConnect with Erin to learn more about how you can lower costs and provide superior health benefits, ebutler@bevcapmanagement.com
In today's podcast we break down the key steps to build (and implement) a successful brewery financial plan.The financial plan is the road map. Where are you now? Where do you want to go? What does financial success look like? Listen to the podcast. Download the resources. Build your best plan EVER today! Key TakeawaysUse the 6 building blocks to organize the planning processThe X Factor to financial planning success How to crowd source the best ways to grow sales and cut costsSimple and complex financial models to build your best planResourcesJoin our network of brewery owners and managers working together to build the best brewery financial plan EVER!Get the Brewery Financial Training Program included with your membership to the brewery network
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 breweries are target.In today's podcast, Tom shares how these crimes occur, how to find out if your brewery 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
Today we welcome back Tim Near from Agrowgate, a company that works to save you money on cost of goods sold. Think cans, cardboard, malt, freight and so much more. Key PointsState of the industry: Trends in costs and commodity pricingBrewery purchasing 101: Best practices How to properly source key ingredients Keys to benchmark your costs against industry averagesResourcesConnect with Tim Near and learn more about how to save money Listen to the Brewery Supply Chain Management podcastJoin the brewery financial network - connect with other brewery owners to learn best practices to improve profits and cash flow
In today's podcast we hear the audio version of a recent Brewery Financial Round Table meeting where we tackle brewery cost management and expense reduction.Summary of key points:Use this 1-2-3-4 step process to put a laser focus on cost cutting and reductionShare the Brewery Financial Training Program with your managers and staff – train them in the ways of identifying and reducing (or eliminating) bloated costsKey challenges we discussed: Controlling costs related to production and materials, freight and shipping, finding efficiencies, avoiding cost surprises, improving culture and communication78 Ideas to cut costs and improve financial results – Double Your Profits in 6 Months, by Bob FiferDan Klasen from the Beverage Federation shared details on the group purchasing organization (GPO) to help you save a ‘craft load' of moneyJoin the membership today and get instant access to the brewery financial round table replay, presentation deck, and brewery cost cutting resources.
Today on the podcast we hear from Scott Birkner, VP and Business Lending Specialist at Dogwood State Bank. Scott shares insights on how to use SBA loans to purchase an existing brewery or make a partial acquisition of a brewery. Key TopicsHow to finance a start-up brewery, buy an existing brewery, or make a partial acquisition using SBA loansState of the lending industry: Credit availability, interest rates, trendsWhat does the future of lending look like? Scott looks into his crystal ball and shares his observationsResourcesConnect with Scott and learn more about brewery acquisition financing, sbirkner@dsbnc.comJoin the Beer Business Finance Association - we talk brewery finances all the time!
Today on the podcast we talk non-alcohol beer with Dave Williams from Bump Williams Consulting.Dave shares data, insights, and analysis on the non-alcohol beer category. Key TopicsMajor players in non-alcohol beer, sales volume, and growth trends NA beer sales by market channel: Chain and grocery, liquor, convenience, and on-premise accounts Retailer response to NA beer: More shelf space, more willingness to take on these brandsCrystal ball time. What does the future hold for NA beer? Listen in for Dave's full analysis ResourcesConnect with Dave Williams, Dave@BumpWilliamsConsulting.comJoin our financial network of brewery owners and managers
Today on the podcast we hear from marketing guru Julie Rhodes from Not Your Hobby Marketing. Julie and I talk about The Power of Marketing + Finance. And dig in on why NOW is the time to invest in your marketing and sales strategy. Key Topics:Brewery marketing trends, new ideas to try, fundamental marketing tactics to revisitWhy NOW is the time to double down on your investment in sales and marketing (and where to find the cost savings to pay for this)When to add a sales rep (and how to pay them)Resources:Connect with Julie Rhodes at Not Your Hobby MarketingLearn more about the Beer Business Finance Association, a network of brewery owners and managers focused on driving profits and cash flows
Today on the podcast we hear from Ross Stensrud, co-founder of Tapwyse, a developer of custom branded apps for taproom breweries.Ross shares his experience working in commercial fitness - where the business model is all about memberships and recurring revenue - and how this idea can be applied to your taproom to grow sales.Key PointsHow to develop an app for your brewery to grow sales and create predictable recurring revenueBest practices to re-imagine the 'mug club' so you can add unlimited members The best incentives to get customers to download your app, use it to buy your offerings, and receive push messages to come back to your taproom more oftenResourcesGet in touch with Ross and learn how to grow taproom sales with recurring revenue, ross@tapwyse.comJoin the Beer Business Finance Association, we are a group of brewery owners and managers, working together to grow sales and improve profitability
Webinar Replay: How to Build Your Brewery Key Metrics DashboardIn today's webinar I am joined by Alec Johnson from Ekos who shares his favorite KPIs and shows you how to build beautiful (and profitable) dashboards.Here's what you'll get:50+ key metrics used by other breweriesKPI best practices: How to pick the right numbers for your businessSample brewery KPI Scorecards and templates to downloadTips to build dashboards and KPIs in your brewery management softwareDo this next:Watch the webinar replay: How to Build Your Brewery Key Metrics Dashboard and download the Presentation DeckJoin the Beer Business Finance membership. We are a network of brewery operators focused on driving profits and cash flows (and Key Metrics help us do that!)
Today on the podcast we hear from Brian Deignan, founder of Validation Ale in Santa Barbara, California.Validation ale's tagline is: "Allowing great beer to rise to the top. Your order is a vote toward Validation." The concept is to curate an evolving tap list based on customer orders and taste.Validation uses data to drive decisions on what beers belong on tap. This approach gives customers what they want while maximizing beer sales on draft. A lovely combination.Key TopicsLessons Brian learned starting his brewery and what he would do differently (how to use calendars and deadlines to keep the project on schedule)3 Big Ideas to grow sales and profits ("Steal the glass", "line price your beer", and "split test your draft lineup")Success secrets from the tech industry and how to successfully apply them to your brewery businessResourcesConnect with Brian at Validation AleLearn more about the brewery financial round table
In today's podcast we'll cover the key drivers of brewery profitability, and give you specific action steps to follow to improve the bottom line in your business. Key TopicsKey drivers of brewery profitsScorecards to measure and improve the bottom lineMost effective ways to cut costs, increase margins and grow salesHow to create a profit plan and profit routineResourcesLearn more about the brewery financial round tableWatch the video and get the financial templates: How to Drive Brewery Profitability
On today's podcast you'll hear about a new project from A-Bay Engineers called the Craft Brewing Community Dashboard.Many brewery owners and managers are looking for financial and operational benchmarking data, and this new dashboard could be just the thing.Jamie Schild, CEO and Jim Oilschlager, COO share details on the community dashboard, what it is, how it works, and how breweries can use this information to make data-driven decisions. Key TopicsHow to join the brewery community dashboardFavorite KPIs from Jamie and JimBenchmarking against your peers vs. brewery historical performanceResourcesSign up for the brewery community financial dashboardLearn more about the brewery financial round table
Larry Chase is a certified Open Book Management Coach and teaches companies how to be financially transparent with all of their employees. In this podcast, Larry and I talk about brewery compensation and bonus plans. Larry shares what NOT to do, and best practices to follow if you are thinking about putting a bonus plan in place for managers or staff. Key TopicsTop reasons why bonus plans fail...and how to avoid themBonus plan best practicesHow to use mini-games to create 'early wins'ResourcesConnect with Larry ChaseLearn more about the brewery financial round table
Today on the podcast we hear from Chris Overlay, CEO of Get Hoptimized, a craft beer marketing and advertising agency. Chris' company helps breweries and craft beer businesses grow with effective and affordable marketing services, from label designs, to social media ads, to strategizing world domination. Key TopicsHow much to spend on brewery marketingThe marketing metrics that matter for craft breweriesHow to use 'funnels' to bring more customers into your taproomResourcesConnect with Chris OverlayLearn more about the brewery finance network
Today on the podcast I'm joined by Jack Kessler and Steven Welborn from Ohanafy - the only brewery and wholesaler software platform built on SalesForce. If you're interested in growing beer sales (and learning about the financial aspects of the beer business) this podcast is for you.Key TopicsWhy it's crucial for beer producers to understand the financial intricacies of their business in today's competitive marketInsights on how understanding financial metrics can directly impact the cash flow and profitability of a beer businesses The role of technology in optimizing revenue and finances within the beer industry Common financial challenges that beer distributors face, and how can they navigate through them effectivelyHow technology influences the operational efficiency and financial performance of breweries and distributors Advice to aspiring breweries and beer distributors who aim to enhance their understanding of the financial aspects of running a successful business ResourcesLearn more about Ohanafy, or schedule a DemoJoin the network of brewery financial professionals - the Beer Business Finance Association
If you're ready to get serious about improving brewery profits and cash flow, the Beer Business Finance Association is here for you.The association is a network of brewery owners and managers who come together to share ideas and best practices to help run a financially successful beer business.In today's podcast, I'll share why the network came to be, and how you can join and transform your brewery financial results. Key PointsQuarterly financial round-table meetings with beer industry peers24/7 online access to a library of brewery financial training coursesAccess to brewery workshops and webinarsBrewery planning templates, models and spreadsheetsResourcesBook a 15-minute discovery call Learn more about the benefits of the Beer Business Finance Association
Today we talk variable compensation and incentives with Aaron Gore, Director of Partnerships and Community at Arryved. Key Points99% of breweries in the U.S. see taproom operations as the biggest profit driverHow to align employee compensation and incentives with top brewery objectivesExamples and benchmarks to follow when setting up incentivesFirst steps to implement a variable comp plan in your breweryResourcesConnect with Aaron Gore, aaron.gore@arryved.comLearn more about Arryved POS
Michael Varda from Craft Beer Advisory Services joins the podcast and shares early insights on 2023 taproom data trends. The goal of Michaels data is to show you why customers come to your taproom and what you can do to keep them coming back. Key PointsThe #1 factor in negative experiences: It's food. What the "Food Ladder" can teach you about a customer's likelihood to come back to your taproom.Michael's mind blowing data point: 1 in 3 negative experiences are related to first impressions.Two years ago, 1 in 10 negative experiences mentioned price. Now it's 1 in 4. Pricing matters. Michael shares tips on how to be strategic when pricing food and beverages.ResourcesLearn more about Craft Beer Advisory ServicesJoin the Network of beer industry professionals
Today on the podcast we hear from Brynn Keenan from Grist Analytics. Brynn and I talk all about brewery data and key metrics to track to ensure cost effectiveness in production. Key TopicsCase studies of how Ninkasi and New Belgium cut production costs and increased tank capacityKPI's used to track efficiency, throughput, resource utilization and equipment performanceResourcesConnect with Brynn, brynn@gristanalytics.com Connect with other brewery owners and operators
Today on the podcast we hear from Justina Marcial, Director of Operations at Cape May Brewery. Justina shares Cape May's story of selling their distribution rights, how they build a strong culture with their 7 core values, and how they take company communication to a new level with a structured process. Key TopicsCape May's financial and business planning process, software stack and 2024 goalsSWOT planning, Swim Lanes, and Resolutions - Cape May's keys to successHow to use a business coach in business planningResourcesConnect with Justina Marcial at Cape May BreweryLearn more about the financial network for brewery owners and operators
Today on the podcast we hear from Dave Williams, VP of Analytics & Insights at Bump Williams Consulting.Dave shares tips on how to create a portfolio strategy for the new year. He highlights several areas where beer is "winning" and how breweries can take advantage. And we dig into pricing and price sensitivity at retail. Pricing is a big deal. Dave shares what you need to know about pricing trends and consumer behavior, so that you can position your products for success. Key TopicsTrends in ABV, beer styles, pack sizes - what's working, what's notWhat you need to know about pricing and price elasticityResourcesLearn more about BWC and connect with Dave on LinkedInLearn more about the network of beer industry professionals
In today's podcast we share tips and tactics to build your taproom financial plan.The process of financial planning (budgeting) can be long and arduous. Today, we talk about how to make it easier and maybe even enjoyable!Key PointsHow to motivate your taproom manager to tackle the budgetThe first steps you should take when starting your planModels and explainer videos to guide you through creating your taproom financial planResourcesLearn about Taproom Success and claim your FREE MONTHTaproom financial planning...where to begin
Today on the podcast we hear from Scott Birkner from Dogwood State Bank. If you're looking to fund a startup brewery or expand existing operations, you'll want to listen to this podcast. Scott shares all the details you need to know about SBA lending and how to position yourself to get the best loan possible. Key PointsTypes of SBA loans available to breweries Eligibility requirements, interest rates and termsThe most common errors breweries make in their financial projectionsSpecific requirements for start-up brewery loansResourcesConnect with Scott Birkner - sbirkner@dsbnc.com or cell: 704.564.5940 Check out the financial network for breweries
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. 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.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
Today we hear from Andrew Coplon, founder of Secret Hopper, a mystery shopping service for taprooms and brewpubs.Andrew has tons of data to share from over 6,000 unique taproom visits. Examples include adding paper menus to increase guest spending by 25% and increasing to-go beer sales by 5x with one simple question. Key TakeawaysThe most important taproom data points to measure and manage Tactics to train and motivate your staff How Secret Hopper provides feedback and data on the customer experience ResourcesLearn how Secret Hopper can transform your taproom businessData points: The impact of menu types on taproom spending
Today on the podcast we hear from Metazoa Brewing Vice President Lauren Frederick. Lauren's background is in sales and marketing, but she shares her tips and tactics to learn the financial aspects of running a brewery. Many brewery operators are non-financial managers. In today's episode you'll hear Lauren's journey from sales rep to vice president and the financial knowledge she learned along the way. Key TopicsMetazoa's brewery financial planning processSoftware stack, key metrics, and compensation structures Favorite industry publications, resources, and podcasts ResourcesConnect with Lauren Frederick - Lauren@metazoa.beerJoin the beer industry finance group
Today on the podcast we review a tool you can use to amplify cash flow in your brewery, it's called Melio. Melio is one of the fastest-growing B2B payments companies in the U.S. and is reinventing the way customers and suppliers pay each other. You'll hear from Aaron Gervais, CEO and co-founder of Otherwise Brewing, a gluten-free brewery based in San Francisco. Aaron uses Melio to streamline customer receipts and supplier payments.Key TopicsHow to use a payment platform to speed up collections from retailersOptions to pay suppliers and vendors using MelioOtherwise Brewing's journey to create a gluten-free breweryResourcesConnect with Kate at Melio Payments: kate.michalowski@melio.comLearn more about Melio
In today's podcast we talk brewery insurance with John Round and Shannon Prescott from the Richards Group. John and Shannon share their insights on loss prevention, creative benefits, industry specific coverages to be aware of, and trends in the industry. Key TopicsHow breweries can use creative benefits as a recruitment toolInsurance cost reduction tactics for breweriesAreas where a broker can/should add valueInsurance trends in the beer industryResourcesLearn more about the Richards GroupJoin the network for beer industry professionals
Today on the podcast we talk about grant seeking and grant writing with Tranice Watts If you are a brewery owner or operator and you're interested in finding grant money you'll want to listen to this podcastTranice takes us through the state certification process, how to search for grants, and how the application process works. Key PointsHow to search for grants (state and local)Types of grants (50/50 cost share or 100% funded)Keys to writing successful grant applicationsResourcesConnect with Tranice Watts and learn more about brewery grants, at Absurd Institute.org, or email info@absurdinstitute.org Join the network of beer industry professionals
Beer businesses 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
In today's podcast we dive into the magical world of distributor contracts, and provide Five Steps you can follow to a better contract for your brewery.The distributor contract is a big point of contention between craft breweries and distributors. Before any beer is delivered, the contract has to be reviewed, debated, negotiated, and eventually signed.The challenge with most contracts is that both parties want the terms to be in their favor. Breweries want options to get out of the contract, and freedom to move their brand if the business relationship isn't working.Distributors want the brewery to be committed to them indefinitely. From the distributor perspective, they invest millions or tens of millions, in infrastructure and want to be sure that brands stay on the trucks to pay for all the investment.Both parties want the advantage, but at a minimum, neither party wants to get stuck with a bad contract.With so much emphasis on the distributor contract, what steps are you taking to ensure you get the best arrangement possible?In this podcast I will outline five steps you can take to improve your contracts, and contractual relationships.Five Steps to a Better ContractSeek first to understand: Basic contract structure and termsKnow your state lawsDo your research, ask questions, determine the distributor optionsPlay a game you can win – Develop your own standard contract.Self-distribute – Enter into a contract with yourselfResourcesGet the free finance newsletter for breweriesLearn more about the Beer Business Finance Association - a network of beer industry professionals focused on improving financial results
Today we learn all about SBA loans with Scott Birkner from Dogwood State Bank. If you need to borrow money to start or grow your brewery, then you need to listen to this podcast.Scott breaks down all the details of SBA 7A and 504 loans and shares his advice on how to best prepare for the loan process. Key TopicsFinancing trends in the brewing industryHow to prepare for an SBA loan: When to start and what information you'll need to finishLoan requirements for start-up breweriesResourcesLearn more about SBA lending with Dogwood State Bank, or email Scott at sbirkner@dsbnc.comJoin the finance network for brewery owners and operators
Today we talk with Roger Kissling, VP of Sales for Iron Heart Canning. Roger shares all the details you need to know about mobile canning services. Iron Heart has 28 warehouses in 27 stats, and packaged approximately 100 million cans last year. If your brewery is thinking about canning solutions, Iron Heart may be the answer. Key TopicsLogistics of mobile canningPricing, contracts, expectations, roles and responsibilities of mobile canningTrends in package sizes and configurationsResourcesLearn more about Iron Heart Canning and mobile canning servicesGet the free brewery finance newsletter
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