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, and Grant is a former VP of Sales at Origlio Beverage. Key topics covered: How to manage the supplier / wholesaler relationship Building performance management systems How to reward and pay for top performance Darin and Grant: My favorite KPIs and Key metrics Resources Contact Darin or Grant at InTrench Consulting Preview the Profit Rx ...
May 07, 2021•59 min
Joe Trombley is senior facilities planning manager at Barry-Wehmiller Design Group and technical director for the Master Brewer's Association, New England Region. Joe works with breweries of all sizes from start-up to expansion to assist with packaging line planning, construction projects, master brewery planning, and more. Key topics covered: Rules of thumb for brewery build-out and construction costs Tips to find the ideal location for your start-up brewery What's involved in a feasibility stu...
May 06, 2021•57 min
In today's podcast, you'll hear a replay of the live Q&A session from the Brewery Financial Training Program. In this episode we cover brewery cash flow management: Best practices, key drivers of cash flow, and scorecards to track, measure and improve your cash position. The Brewery Financial Training Program is for craft brewery owners, managers and staff who need practical financial training to improve cash flow and profitability. The Course includes 40+ lessons delivered across 6 modules,...
Apr 28, 2021•37 min
In today's podcast, you'll hear a replay of the live Q&A session from the Brewery Financial Training Program. In the episode, we cover the 6 Steps you can follow to create your brewery financial budget. The Brewery Financial Training Program is for craft brewery owners, managers and staff who need practical financial training to improve cash flow and profitability. The Course includes 40+ lessons delivered across 6 modules, with a total of 8 hours of instruction, 6 graded quizzes and a final...
Apr 21, 2021•38 min
In today's podcast, listen to the audio version of a presentation on Brewery Financial Best Practices in Uncertain times. Whether you are a start-up brewery, in expansion planning, or running an ongoing operation, the tools, resources and strategies covered will help you gain control over your financial results. We’ll also provide an overview of the financial programs and incentives that may be available for breweries to help during these difficult times. Resources Brewery Financial Training Pro...
Apr 20, 2021•58 min
In today's podcast, you'll hear a replay of a live Q&A session from the Brewery Financial Training Program. We cover the common brewery financial problems, how to quickly identify them, and how to fix them. The Brewery Financial Training Program is for craft brewery owners, managers and staff who need practical financial training to improve cash flow and profitability. The Course includes 40+ lessons delivered across 6 modules, with a total of 8 hours of instruction, 6 graded quizzes and a f...
Apr 14, 2021•39 min
In today's podcast, you'll hear a replay of the live Q&A session from the Brewery Financial Training Program. The Brewery Financial Training Program is for craft brewery owners, managers and staff who need practical financial training to improve cash flow and profitability. The Course includes 40+ lessons delivered across 6 modules, with a total of 8 hours of instruction, 6 graded quizzes and a final exam. Watch a short video to learn more. Key topics covered: Best practices for your brewery...
Apr 07, 2021•33 min
Today we learn about taproom sales growth tactics with Andrew Coplon from Secret Hopper. Secret Hopper is a mystery shopping service for craft breweries that is helping breweries increase their revenues, create more repeat customers, and fine tune their tasting rooms. Key takeaways: Average taproom tabs have been higher during the pandemic (Andrew shares the data and how you can use this information to increase your taproom sales) Incentives and leader boards are great tools to motivate taproom ...
Mar 30, 2021•38 min
Open book management is a system to communicate the numbers of your brewery business and engage employees to improve financial results. In today's podcast, we talk about Open Book Management (OBM) with Audra Gaiziunas from Brewed for Her Ledger. In the podcast, Audra and I cover a wide range of topics including: The major benefits of OBM, mistakes to avoid, sharing financial information, key metrics, critical numbers, and much more. There are many details involved in an Open Book Management syst...
Mar 16, 2021•37 min
Today, we hear from Josh Lance, CPA from Lance CPA group. Lance CPA Group is a virtual certified public accounting firm built to help small business owners and entrepreneurs grow and manage their businesses. In this round two of our conversation we talk about the employee retention tax credit (ERTC). A huge deal for craft breweries. Josh breaks down the rules, the details, and exactly what you need to know about this program right now. We also talk about how to use advanced financial forecasting...
Mar 08, 2021•27 min
Today we hear from Josh Lance from Lance CPA Group, a virtual certified public accounting firm built to help craft brewery owners and entrepreneurs grow and manage their businesses. Josh and I dig into the details of the ultimate software stack for breweries - from accounting software to POS to brewery management software and benchmarking tools. We talk about a common question from brewery owners - When is the right time for a brewery to bring on a finance person or outsourced accounting option?...
Mar 01, 2021•40 min
Daniel Lust is co-founder and partner of PINTS LLC, a beverage advisory firm that partners with suppliers and distributors across the country to provide objective support, guidance and best practices related to the beverage alcohol industry. In today's podcast Dan and I talk about performance metrics for beer wholesalers and breweries: Out of code, out of stocks, gross profit %, profit per stop and many more. We also dig into the details of brewery-wholesaler business relationships, and what bre...
Feb 22, 2021•31 min
In this podcast we talk with Jim Gunther from Gunther Creative Agency. Jim specializes in creating beautiful visual identities: branding, packaging, print, digital and more. He has recently added beverage formulation to his list of services. Jim has created a Product Launch Checklist which includes all the things you should consider when launching a new product. The product launch checklist includes to-do's for legal, product development, graphics, marketing production, operations, and much more...
Feb 05, 2021•37 min
In today's podcast we hear from Jason Sleeman from United Community Bank. Jason has 20 years' experience in banking, and the last 6 years running the craft beverage vertical for United Community Bank. The hot topic on everyone's mind is the second round of PPP funding. What do breweries need to know right now to take advantage of this relief package? How does the NAICS code factor in to the PPP? In other words, will production breweries who also operate taprooms qualify for a larger loan? 3.5x v...
Jan 12, 2021•40 min
Financial planning in a pandemic requires that you have an accelerated process to get your brewery budget done. You don't have weeks or months of time to complete this task, you have hours or days. In order to help you speed up the planning process, I'll share financial models that are easy to use and quick to update. These models are also be flexible so that you can update your numbers frequently as new information becomes available. Today's podcast is the audio-version of a webinar on Brewery ...
Jan 02, 2021•34 min
Today we talk about ESOPs with Rocky Fiore, Managing Director of Prairie Capital Advisors. Employee Stock Ownership Plans (ESOPs) can be a great option to reward employees and keep your brewery business independent. Craft breweries are all about collaboration, camaraderie, and employee empowerment. Employee ownership may be a natural evolution in the craft beer culture. Rocky oversees client engagements related to employee stock ownership plans (ESOP) feasibility and structuring, valuation, fair...
Nov 24, 2020•41 min
Rich Lindsay is a former CFO for Boston Beer Company, a U.S. Navy Veteran, and a valuation expert. We hear from Rich about common questions from brewery owners: How do I value my beer business? What is my brewery worth? What information should I provide to potential investors? Topics Covered: Boston Beer Company Secrets to Success (hint...it's sales training) Brewery valuation basics Common metrics that drive brewery value Resources: Contact information for Rich Lindsay Email: lindsay@valensics....
Nov 20, 2020•44 min
Today we hear from Matt Hopkins, Executive Director of Independent Brewer's Alliance, the nation's only craft brewer owned cooperative. The cooperative has 100 craft brewer members with a combined 675,000 BBL of beer production. The mission of the organization is to pool purchasing power to save money on supplies and services for all member-owners. Topics Covered Savings programs offered - cans, labels, services Average/expected savings by using the programs The hot topic today: Cans, supply cha...
Nov 13, 2020•19 min
Today, I sit down with Maria Pearman a principal with the firm of Perkins & Co. Maria is a CPA and her focus is on the beverage alcohol business. Perkins & Co. provides a full range of services to craft breweries, including tax, audit, bookkeeping, business transaction services, controller and CFO services. Topics covered in the podcast: Business transactions, mergers & acquisitions in the craft beer space Top financial issues facing breweries today: PPP filing and tax implications E...
Nov 05, 2020•42 min
Today we chat with Harry Schuhmacher, Editor and Publisher of Beer Business Daily, Craft Business Daily, and Wine & Spirits Daily. These publications are read on every continent in the world except Antarctica. Harry has worked in the beer business for over 30 years, and has published Beer Business Daily for the last 20 years. Harry is also the producer of the Beer Industry Summit and the Wine & Spirits Summit. In the podcast we cover a wide range of topics: Brewery - Distributor relation...
Oct 09, 2020•56 min
How do you finance your brewery? What does a good loan strategy look like? How can you make the most of your relationship with your lender? So many questions. In this podcast we'll provide answers so that you can create a successful financing plan for your brewery business. Topics Covered in the Podcast Brewery Financing Basics Loan Terms, Loan Types, Typical Loan Structures Working with Lenders How they evaluate breweries, What they need from you, How to make the most of the relationship Loan C...
Sep 28, 2020•32 min
In your beer business you can outsource payroll processing, bookkeeping and tax return preparation among other tasks. The ONE THING you cannot outsource is Cash Flow Management. Having enough cash on hand and access to capital is the key to staying in business. Cash Flow Management is the process to measure and monitor your brewery cash to ensure you have enough. Topics Covered in the Podcast: Cash Flow Basics Accrual accounting, Net Income vs Cash Flow Cash Flow for Start-ups Key considerations...
Sep 21, 2020•22 min
Today we'll talk about brewery financial planning and forecasting. Traditional budgeting takes forever and the plan is obsolete once it's done. In this podcast we'll review tools and models to build a financial plan that can be updated regularly so that it remains useful and profitable. Topics Covered Financial Planning Best Practices and Planning Pitfalls to Avoid 7 Steps to a Brewery Financial Plan Sales, margins, expenses How to build the schedules, without perfect information Resources Sign ...
Sep 14, 2020•18 min
Financial literacy is the ability to read and understand the numbers of your brewery business with the purpose of improving financial results. Improving financial results may be in the areas of increased sales, improved product margins, or better cash flow. Financial literacy can help you achieve these goals. In today's podcast, we review how you can use financial reports - income statement, balance sheet, statement of cash flows - to identify opportunities for financial improvement. Topics cove...
Sep 07, 2020•29 min
Today we talk about open book management for craft breweries. Open book management (OBM) is a system where financial information is shared with employees so that they can make better decisions.Better decisions lead to better financial outcomes, and better financial outcomes lead to a stronger brewery business for everyone. In this podcast we dig into the Evaluation Stage of open book management. We talk about what open book management is, and what it is not. We cover the key things you should co...
Aug 15, 2020•28 min
There are so many good business books out there that can help you improve financial results in your brewery business. Here are three of my favorite business books of all time: Cash Rules: How to Learn and Manage the 7 Cash Flow Drivers for Your Company's Success, by Bill McGuiness The book provides practical instructions to measure, monitor and improve cash flow in your business. The primary drivers of cash flow: Sales, Margins, Operating Expenses, Accounts Receivable, Inventory, Accounts Payabl...
Jul 24, 2020•18 min
In today's podcast, we hear from Steven Quish from Cross Insurance. Cross has 40 office locations and 1000 employees. They work with over two dozen brewery clients, so they understand the beer industry. Steve shares his perspective on insurance issues facing beer industry today. Topics range from Business Income Interruption insurance, to Workers' Compensation, and how to prepare a COVID impact statement. What's a COVID impact statement? Why do you need this? Listen in to learn more. We also dis...
Jul 23, 2020•32 min
Jon Reynolds from BrewPlan is a 40 year beer industry veteran. Jon works with breweries on new brand launches, setting up distribution networks, working with wholesalers and performing brewery analysis and feasibility studies (think of this like a business plan on steroids). Jon subscribes to 30 industry publications, so he is well-read on current events (and past events) that are shaping the beer business. In today's conversation, we cover a lot of ground on a number of topics that are useful a...
Jul 21, 2020•49 min
Today we talk with attorney John Moran about capital raising for breweries. Brewery owners want to know where to get funding and how the process works. They want to know how to use debt or equity (or a combination of the two) to fund their project. John has answers. We also dig into the details of brewery operating agreements and what sections brewery owners need to pay special attention to (voting rights, buy/sell terms, and more). Resources The Brew Kit - A practical guide to starting, owning,...
Jul 14, 2020•45 min
Today we talk about two of my favorite brewery financial tools. These are useful in calculating various aspects of our brewery business: The Beer Case Equivalent Calculator and The Taproom Sales Calculator. The Beer Case Equivalent tool can be used to quickly convert your different package sizes to Case Equivalents, otherwise known as CE's. What's a CE? It's a unit of measure that equals 24 12oz servings. The CE is a standard unit of measure for the beer wholesaler. The Taproom Sales Calculator ...
Jul 07, 2020•9 min
