Craft Brewery Financial Training Podcast: Recent Episodes
Craft Brewery Financial Training Podcast
Most breweries spend hours every week pulling reports from accounting software, brewery management systems, payroll platforms, and spreadsheets, only to end up with outdated or incorrect data.
In this Brewery Financial Round Table, we revisit the four-part Financial Operating System and welcome Jeremy Carney from Central Coast Analytics to demonstrate how breweries can automate their most important KPIs into a single, live dashboard.
Learn how real-time financial visibility improves accountability and helps your team make better decisions every week.
Key Takeaways
- Understand the four components of the Brewery Financial Operating System and how they work together to improve financial performance.
- See how brewery software, accounting systems, payroll platforms, and spreadsheets can be connected into one automated dashboard.
- Discover how live, real-time dashboards eliminate manual reporting while giving every department visibility into the metrics they own.
- Walk away with a practical roadmap for building a financial reporting system that saves time, improves accountability, and helps your brewery make faster, better decisions.
Resources
Connect with Jeremy Carney from Central Coast Analytics and learn how he can help you build an automated financial dashboard - jeremy@centralcoast-analytics.com
Get the Brewery Profit Brief - tips, tactics and best practices to build a financially sustainable brewery business.
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Most breweries have a financial operating system problem. What I mean by this is that financial statements arrive too late, budgets get ignored, department managers don't know what numbers matter, and owners end up carrying the financial burden alone.
In this episode, I walk through a practical four-step framework for installing a Brewery Financial Operating System to solve this problem.
You'll learn how to build financial confidence across your leadership team, create a meaningful annual financial plan, establish department KPIs, and implement weekly financial huddles that turn numbers into action.
If you want your brewery to become more profitable, improve cash flow, and make faster, better decisions, this episode will show you where to start.
Key Takeaways
- The four pillars of a Financial Operating System. Learn how financial literacy, annual planning, department KPIs, and weekly financial huddles work together to create accountability and improve performance.
- How to create financially confident leaders. Understand why every department manager - not just the owner or accountant - should know how their daily decisions impact profitability and cash flow.
- How to connect strategy to execution. See how one primary financial goal cascades into department-level KPIs that teams can measure and improve every week.
- Why weekly financial huddles change everything. Learn a simple meeting cadence that keeps everyone focused on results, identifies problems early, and creates a culture of continuous improvement.
Resources
Learn more about the 90 Day Brewery Financial Reboot Program
Get the Brewery Profit Brief. Weekly tips, tactics and best practices to build a financially resilient brewery.
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Beer loss is often accepted as the cost of doing business, but it could be one of your biggest taproom profit opportunities.
After tracking beer loss in spreadsheets, Brent Reynard discovered his brewery was losing nearly 21% of draft beer revenue every month through foam, temperature issues, over-pouring, and operational blind spots.
Rather than accept it as the cost of doing business, he built Draft Control - software designed to track beer loss, uncover root causes, and help breweries make better financial decisions.
In this episode we explore how better data can reduce waste, improve margins, and replace gut feel with measurable profitability.
Key Takeaways
- Why draft beer loss may be far larger and more expensive than most owners realize
- How Brent reduced draft loss from roughly 20% to single digits using visibility, accountability, and operational changes
- The “profit per day” metric and how to evaluate draft lines based on both sales velocity and profitability
- Why the highest-priced beer isn’t always the most profitable beer
- How data-driven decisions around pours, pricing, and inventory can create a stronger, more profitable taproom
Resources
- Connect with Brent, brent@draftcontrol.net
- Get the Brewery Profit Brief - tips, tactics and strategies to run a more profitable beer business
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Events can be one of the most effective ways for breweries to drive traffic, increase customer visits, and create stronger community connections.
In this episode, SkylerLewis from Evently joins our Taproom Success monthly expert to discuss how breweries can build event programs that create predictable recurring revenue.
Key Takeaways:
- Private events have become a critical growth lever for breweries in today’s market - learn how to streamline the planning process to turn inquiries into solid bookings
- The event formats and programming strategies that are generating the strongest results right now.
- How successful breweries think about event ROI beyond ticket sales, including guest spend and repeat visits.
- Common event mistakes breweries make and practical ways to improve execution and attendance.
Resources
- Connect with Skyler from Evently, skyler@planevently.com
- Get the Brewery Profit Brief - tips, tactics and strategies to build a more profitable brewery business
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Many brewery owners start the same way: brewing at home, sharing beer with friends, and hearing those words: “You should open a brewery.”
But making great beer and running a successful brewery require different skill sets.
In this session, I'll share what brewery owners wish they knew before opening, how to capture startup costs, measure margins, project cash flow, and truly understand those financial statements. I'll go over common mistakes brewery owners make, how to avoid them, and practical steps you can take now to position your future brewery for long-term success.
Whether you’re seriously considering opening someday or simply curious about what goes on behind the scenes, this episode will help you understand the business side of beer.
Key Takeaways
- Opening a brewery means running multiple businesses at once - manufacturing, hospitality, retail, distribution, and food service.
- Cash flow - not beer quality - is what determines survival.
- Understanding margins, startup costs, and financial statements early creates better decisions later.
- You don’t need to become an accountant, but financial literacy can become a major competitive advantage.
Resources
Get the Brewery Profit Brief - tips, tactics, best practices and strategies to run a financially successful brewery
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
What separates taprooms with loyal regulars and predictable revenue from those constantly chasing new customers?
In this episode, we break down how breweries can use loyalty programs to increase visit frequency, boost average check size, smooth out midweek traffic, and create stronger customer relationships.
Featuring real-world examples and practical strategies from the Taproom Growth Playbook workshop, this conversation explores how modern loyalty systems can become a true profit driver - not just another "mug club" or “points program.”
Key Takeaways:
- Loyalty programs work best when they are tied to specific customer behaviors you want more of - like weekday visits, customer referrals, or visiting to try new beer releases.
- Digital mug clubs and app-based rewards can create recurring revenue while strengthening long-term customer engagement.
- The best loyalty programs start with one clear goal: increasing traffic, boosting spend, improving retention, or generating referrals — then building rewards around that objective.
Resources
Learn more about Tapwyse
Get the Brewery Profit Brief - weekly tips, tactics and strategies to 10x taproom profits
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, I talk with Jeremy Carney from Central Coast Analytics about how breweries can use better data, dashboards, and financial analytics to make smarter business decisions.
We explore the biggest reporting blind spots breweries face, how to combine information from multiple software systems into one clear picture, and which KPIs brewery owners should actually pay attention to each week.
Jeremy also shares real-world examples of how breweries are uncovering hidden profit opportunities through better reporting and visualization tools.
Key Takeaways:
- Most breweries already have valuable data, but the challenge is organizing it into actionable insights that managers can actually use.
- Weekly KPI tracking can help breweries spot problems and opportunities long before month-end financial statements arrive.
- Dashboards and visual reporting tools simplify complex brewery data and improve team accountability and decision-making.
- Clean, accurate, and timely data is essential for meaningful financial analysis and forecasting.
- Better analytics can uncover hidden opportunities in pricing, product mix, labor efficiency, inventory management, and taproom performance.
Resources
Connect with Jeremy, jeremy@centralcoast-analytics.com
Get the Brewery Profit Brief - tips, tactics and strategies to grow brewery cash flow
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, Jake Lohse and I break down “The Financial Playbook for Profitable Breweries” - a practical framework for brewery owners who want to move beyond survival mode and build a more profitable, financially disciplined business.
The conversation explores the financial realities of running a brewery, the key metrics that matter at each stage of growth, and the systems, dashboards, and routines that successful breweries use to make smarter decisions.
From cash flow forecasting and break-even analysis to budgeting, segmented financials, and weekly KPI scorecards, the episode delivers a step-by-step roadmap for installing a brewery financial operating system that drives clarity, accountability, and profitability.
Key Takeaways
- Most brewery struggles are due to lack of financial systems
Great beer and branding are not enough. Many breweries fail because they lack financial visibility, clear metrics, and a disciplined operating cadence. - Different growth stages require different financial priorities
Startup breweries should focus on survival and cash flow, stabilization-stage breweries need systems and process discipline, and scaling breweries must prioritize profitable growth and consistent net operating income. - Weekly financial rhythms outperform monthly financial surprises
Successful breweries track key numbers daily and weekly through dashboards, scorecards, and financial huddles instead of waiting for month-end financial statements. - Cash flow management is a core survival skill
The presentation emphasizes weekly cash flow forecasting, budgeting discipline, and understanding cash flow drivers as critical tools for staying financially healthy. - Profitability must become intentional
The session encourages brewery owners to “begin with the end in mind” by setting clear financial goals, building KPI scorecards, segmenting retail vs. wholesale performance, and using data to guide decisions instead of instinct alone.
Resources
Connect with Jake Lohse at Jake@PresidentialBrewing.com
Get the Brewery Profit Brief - tips, tactics and strategies to run a more profitable brewery
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, we hear from Devon Hamilton, Director of Operations at Paradox Brewery, to break down the evolving world of contract brewing and why more breweries are using strategic production partnerships to grow without overextending themselves.
Devon shares practical insights on scaling operations, maintaining beer quality, evaluating expansion decisions, and avoiding common mistakes breweries make when entering contract brewing relationships.
The conversation also explores how contract brewing can support growth opportunities, improve operational flexibility, and help breweries navigate tighter margins in today’s craft beer environment.
Key Takeaways
- Contract brewing can help breweries grow sales and distribution without taking on major capital investments or expansion risk.
- Successful partnerships depend on strong onboarding, communication, forecasting, and clear operational expectations.
- Quality control and recipe consistency become critical when scaling production across facilities.
- Breweries should carefully evaluate the “build vs outsource” decision based on cash flow, utilization, staffing, and long-term strategy.
- The future of contract brewing may include growing opportunities in private label products, non-alcoholic beverages, RTDs, and regional production partnerships.
Resources
Learn more about Paradox Brewery's contract brew services
Get the Brewery Profit Brief - weekly tips and tactics to improve cash flow and profitability
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Benchmarking is one of the most powerful—and underused—tools in a brewery.
In this episode, we break down how brewery owners and managers can turn complex financial statements into simple, actionable scorecards that drive better decisions.
You'll learn how top breweries use key metrics, industry benchmarks, and weekly financial meetings to identify profit leaks early, improve margins, and strengthen cash flow.
Instead of waiting for month-end financial reports, breweries can install a simple financial operating system that provides real-time visibility into the numbers that truly matter.
Key Takeaways
- Why financial statements alone aren’t enough
Monthly reports are often backward-looking and complex. A simple benchmark scorecard provides real-time visibility and early warning signals. - The small set of metrics that truly drive brewery profitability
Numbers like EBITDA, debt service coverage, gross margin, and key cash-flow drivers help determine whether the business model is sustainable. - How to build a simple weekly financial scorecard
Focus on just 3–5 key metrics per department to track performance, identify gaps, and drive accountability across the team. - The Financial Operating System breweries should install
The cycle is simple: set targets → measure performance → identify gaps → take action → report results weekly. - How leading breweries use benchmarking to stay ahead
Top breweries track margins, cash, sales velocity, and marketing ROI to make faster decisions and protect profitability.
Resources
Sign up for the Brewery Profit Brief - Clear Numbers, Cash Flow Clarity, and One Practical Action to Improve Your Brewery's Profit
Get the free mini-course Brewery Key Performance Indicators - scorecards, templates and best practices to improve your most important numbers
Take the Brewery Financial Health Check - A quick self-assessment that shows where your brewery stands on the key drivers of profitability
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, Sam Calagione shares the journey of building Dogfish Head Craft Brewery from the smallest commercial brewery in America to a nationally recognized brand.
Sam shares how he started the business with $220,000 in personal loans, navigated decades of growth, and balanced creativity with financial discipline.
He discusses key decisions around capital, distribution, and profitability, along with lessons learned from missed opportunities and strategic bets.
The conversation also dives into the merger with Boston Beer Company, the importance of cultural alignment, and Sam’s perspective on the evolving craft beer landscape and what lies ahead.
🍺 Key Takeaways
- Start Small, but Think Long-Term Financially
Dogfish Head began with limited capital, but growth was supported through a mix of bank financing, investors, and disciplined reinvestment over time. - Growth + Profitability Can Coexist
The company achieved 15 consecutive years of top-line growth while improving EBITDA - proving that scaling doesn’t have to come at the expense of profitability. - Taproom & Direct Sales Should Come First
For today’s breweries, maximizing on-site sales and margins is critical before expanding into wider distribution. - Strategic Decisions (and Mistakes) Matter
Missed investments—like delaying a canning line—highlight how timing and capital allocation can significantly impact long-term results. - The Right Partnership Is About More Than Money
The Boston Beer merger worked because of strong cultural alignment, shared values, and continued founder involvement - not just financial upside.
Resources
Get the FREE Brewery Profit Brief - tips, tactics and strategies to build a more profitable beer business
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In today's podcast, you’ll learn how to turn your numbers into a real-time management system.
We’ll show you how to identify the few key metrics that matter, assign clear ownership across your team, and install a simple weekly rhythm that turns financial data into action so you can improve performance before the month is over, not after it’s too late.
Key Takeaways:
- How to build a focused weekly scorecard (3–5 key metrics)A clear, simplified set of numbers your team can influence in real time
- Tactics to create clear ownership across your organizationLearn how to assign “one name on each number,” so every key metric has accountability
- How to install a repeatable financial huddle systemA simple weekly meeting structure that turns numbers into conversations, conversations into decisions, and decisions into results
- Tips to create stronger alignment between operations and financial outcomesConnect daily actions (sales, ops, inventory, collections) directly to financial results so your team understands how their work drives profit
Resources
Get the Brewery Profit Brief - weekly tips, tactics and strategies to build a more profitable brewery
This episode is brought to you by Secret Hopper. One of the hardest things in the beer business is seeing your business through your customer’s eyes. Secret Hopper helps breweries uncover what guests actually experience from first impressions and service to cleanliness, atmosphere, and whether guests are likely to come back. Their mystery shopping and customer feedback tools give you practical insights and action steps to improve the guest experience and drive repeat visits. To l
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Production planning is one of the bigger challenges in brewing. In this episode, Jeremy Carney from Central Coast Analytics and Dru Ernst from Dru Bru break down how breweries can move from reactive, spreadsheet-driven decisions to proactive, data-powered planning.
You’ll hear a real-world case study from Dru Bru, explore how forecasting by brand, package, and channel actually works, and learn how better planning directly impacts cash flow, margins, and operational efficiency.
We also look ahead at how AI is beginning to shape the future of brewery production decisions.
🎯 Key Takeaways
- Why production planning is a hidden profit leak
Poor planning leads to excess inventory, stockouts, lost sales, and tied-up cash, often without breweries realizing the true financial impact. - What most breweries are doing today (and why it’s not enough)
Many breweries rely on manual processes, gut instinct, and disconnected spreadsheets, creating inefficiencies and costly mistakes. - How data-driven forecasting changes the game
Planning by SKU, package, and sales channel gives breweries real visibility into demand, allowing for smarter brewing and inventory decisions. - Real-world results from Dru Bru’s transformation
Moving to a structured, data-informed system improved visibility, reduced guesswork, and enabled better in-season decision-making. - Where AI fits and the practical first step to get started
AI is about better recommendations. The first step is getting clean, usable data and a consistent planning process.
Resources
- Connect with Jeremy, jeremy@centralcoast-analytics.com and Dru, dru@drubru.com
- Get the Brewery Profit Brief - short, actionable insights to drive profitability
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, I sit down with Marc Rice of Brytos Accounting Services to talk about something that sounds simple, but is often a mess behind the scenes: brewery bookkeeping.
Marc shares what he sees when he opens up a new client’s QuickBooks file for the first time - liabilities showing up as revenue, duplicate expenses from bank sync errors, unreconciled accounts, and charts of accounts that make it nearly impossible to understand what’s actually happening in the business.
We dig into why complete, accurate, and timely reporting isn’t just about compliance, it’s about decision-making.
Marc explains how a properly structured chart of accounts, clear separation of business segments using classes, and regular weekly reconciliations can dramatically improve financial clarity.
We also discuss when it makes sense to outsource bookkeeping, how to assess whether your books are healthy, and why clean financials are the foundation for improving margins, cash flow, and long-term profitability.
Key Takeaways
- Reconcile Weekly, Not Just Monthly
Don’t wait until month-end. Weekly bank and credit card reconciliations prevent duplicate entries, missing transactions, and costly clean-up work later . - Design a Chart of Accounts That Works for a Brewery
Your chart of accounts should separate taproom, wholesale, and other segments clearly—and properly classify COGS, labor, and overhead so you can see true margins . - Watch for Common Brewery Bookkeeping Mistakes
Be on alert for liabilities recorded as revenue, double-entered expenses from bank feeds, and unreconciled accounts—these distort profitability and cash flow . - Use QuickBooks Classes (or Similar Tools) to Separate Business Segments
Segment reporting helps you see which channels (taproom, distribution, events) are driving profit and which need attention . - Outsource When You’re Wearing Too Many Hats
If bookkeeping is something you “get to when you can,” it’s probably time to bring in a specialist who understands brewery accounting .
Resources
Get the Brewery Profit Brief - tips, tactics, and strategies to create more profit and better cash flow in your brewery.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Today we chat with Ross Stensrud from Tapwyse and explore how modern brewery loyalty programs are evolving far beyond the traditional “mug club.”
Ross shares exciting performance data from Tapwyse breweries, including a 387% increase in app installs and a 418% surge in membership revenue year-over-year, along with insights into how breweries can now quantify the estimated revenue impact of rewards programs .
The conversation highlights how breweries are using real-time dashboards to measure membership revenue, reward value, and guest engagement in ways that turn loyalty from a “nice idea” into a measurable profit driver.
Ross and Kary also discuss what separates breweries that succeed with loyalty programs from those that struggle. The key themes: staff buy-in, active marketing campaigns, data-driven decision making, and operational simplicity.
Rather than relying on gut instinct, Ross emphasizes the power of using app data to identify top guests, track recurring revenue, and refine marketing strategies.
Together, we make the case that loyalty programs—when structured and promoted correctly—can become a meaningful recurring revenue stream and a powerful tool to smooth seasonal revenue swings.
Key Takeaways:
- Track Revenue, Not Just Sign-Ups: Measure estimated reward value, recurring membership revenue, and average tab size to understand the true financial impact of your loyalty program.
- Use Push Messages Strategically: Data shows strong engagement (including high visit rates per push message) and intentional communication drives repeat traffic.
- Create a Dynamic Rewards Model: Move beyond static mug clubs to systems that reward repeat behavior and build long-term belonging.
- Set Clear Membership Goals: Establish targets for monthly and annual membership sales, track progress on a dashboard, and adjust campaigns accordingly.
- Drive Staff Buy-In: Train your team to promote the program, personalize guest interactions, and make reward redemption easy.
Resources
Learn more about Tapwyse and schedule a demo
Get the Brewery Profit Brief - tips, tactics and strategies to run a more profitable brewery business
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Inventory is often the largest asset on a brewery’s balance sheet and the biggest source of hidden margin leaks.
In this episode, we break down how to build a profitable inventory system that protects cash, improves COGS accuracy, and creates operational discipline.
You’ll learn how to install simple standard operating procedures, use scorecards to quantify what “good” looks like, and turn inventory management from a monthly headache into a competitive advantage.
Plus, we’ll share a practical SOP template you can use immediately.
Actionable Takeaways
- Install Clear Inventory SOPs
Learn how to document and standardize receiving, transfers, adjustments, and returns so inventory accuracy doesn’t depend on memory or good intentions. - Move from Guesswork to Measurement with a Scorecard
Identify the key metrics (turnover, days on hand, shrinkage %, slow-moving SKUs) that quantify what strong inventory management actually looks like. - Protect Gross Margin Through Better Valuation & Reconciliation
Understand how counting discipline and consistent valuation methods improve COGS accuracy and prevent margin distortion. - Identify and Plug the “Inventory Leaks”
Discover the most common breakdown points — from receiving errors to production yield loss — and how to install controls that prevent them. - Free Up Cash Without Increasing Sales
See how improving inventory turns and reducing excess stock can unlock working capital and strengthen your financial position.
Resources
Get the free Brewery Profit Bulletin - tips, tactics and strategies to create more profit in your beer business.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Cash flow is what determines whether a brewery survives and grows. In this episode, we break down the core fundamentals of cash flow management and share practical strategies you can use immediately to gain control, avoid crunches, and build a stronger financial foundation for your brewery.
Key Results You’ll Get from Listening:
- A clear understanding of the difference between profit and cash flow and why it matters
- Practical steps to avoid cash crunches before they happen
- The core KPIs that directly impact liquidity and financial stability
- Simple systems to improve collections, inventory management, and spending discipline
- A framework for making better day-to-day decisions that strengthen cash flow and long-term growth
Resources
Get the Brewery Profit Brief - actionable tips to improve cash flow today.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, I sit down with Aaron Gore, VP of Sales & Marketing at Beer30, to talk about the upcoming American Craft Beer Hall of Fame induction ceremony and what today’s high-performing breweries can learn from the legends of our industry.
We explore how leading breweries are using data management not just to “keep records,” but to gain a true competitive edge.
From tighter inventory control and margin visibility to AI-powered forecasting and smarter decision-making, data discipline is separating the breweries that survive from those that thrive in a maturing market.
Aaron also shares insights on three major initiatives coming soon from Beer30 and what they signal about the future of operational intelligence in craft beer.
✅ Actionable Takeaways
1️⃣ Treat Data as a Strategic Asset — Not Just Recordkeeping
High-performing breweries don’t just collect data — they structure it, review it consistently, and use it to drive pricing, production planning, inventory control, and profitability decisions.
2️⃣ Build a Single Source of Truth
Disconnected spreadsheets and siloed systems create confusion. The best breweries integrate accounting, production, and inventory data so everyone operates from the same numbers.
3️⃣ Use AI as an Assistant, Not a Replacement
AI tools can help analyze trends, forecast demand, flag anomalies, and generate insights faster — but they work best when clean, organized data feeds them. Garbage in, garbage out still applies.
4️⃣ Create a Weekly Data Review Rhythm
Competitive breweries establish weekly operational and financial huddles where key metrics are reviewed, variances are discussed, and decisions are made quickly — before small issues become big problems.
5️⃣ Invest in Systems That Scale with You
Whether it’s inventory management, production planning, or forecasting tools, investing in scalable systems early allows breweries to grow efficiently instead of rebuilding their back office every few years.
Resources
- Connect with Aaron - aaron.gore@the5thingredient.com
- Get the Brewery Profit Bulletin - tips, tactics and strategies to build a more profitable brewery
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, I sit down with Chris Farmand of Small Batch Standard, a brewery accounting, tax and advisory firm that works with breweries across the country, to talk about one thing every brewery owner cares about: profit.
We kick things off with a preview of Chris’s all-day Brewery Profit Workshop at the 2026 Craft Brewers Conference (Monday, April 20th), where he’ll dive deep into taproom performance, distribution strategy, and practical ways to unlock more profit in your business.
From there, we zoom out and tackle some of the biggest strategic issues facing breweries today — the pros and cons of contract brewing, what’s really happening in brewery mergers and acquisitions, and how forward-thinking operators are creatively converting underutilized production space into high-margin event venues.
This conversation is packed with insights for breweries looking to adapt, optimize, and build a more profitable business model in a maturing market.
Key Takeaways
- Taproom Profit is Still King
Why maximizing retail sales, optimizing labor, and dialing in guest experience remains one of the most powerful levers for margin expansion. - Distribution Strategy Requires Discipline
The importance of understanding true margins by channel — and when distribution helps (or hurts) your bottom line. - Contract Brewing: Strategic Tool or Risky Shortcut?
A practical look at when contract brewing makes sense, when it doesn’t, and the financial implications owners often overlook. - M&A Activity Is Evolving
What’s driving brewery mergers and acquisitions in today’s market — and what owners should consider before buying, selling, or partnering. - Repurposing Production Space for Higher Margins
How breweries are converting excess capacity into event space, private rentals, and hospitality experiences to capture more profitable retail dollars. - Profit Requires Intention, Not Hope
The common thread across all strategies: knowing your numbers, understanding channel-level profitability, and making proactive financial decisions instead of reactive ones.
Resources
Learn more about the Brewery Profit Workshop - Monday April 20th of Craft Brewers Conference week
Get the free Brewery Profit Brief - a weekly newsletter packed with tips, tactics, and strategies to drive more profit in your beer business
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, we break down what really belongs in COGS, how to read gross margin correctly, and how to dig deeper to uncover hidden margin leaks.
If you want stronger cash flow, smarter pricing, and better decisions, this episode will help you master the numbers that matter most.
🎯 5 Actionable Takeaways
- Define COGS correctly and clean up misclassifications.
Only direct materials, direct labor, and production overhead live in COGS. - Calculate and monitor gross margin.
Track gross margin % trends and compare draft vs package so you can catch margin decline early. - Break down margins by brand and package.
Don’t rely on blended averages - calculate COGS and margin by SKU to identify profit drivers and margin killers. - Allocate labor and overhead intentionally.
Use simple drivers to create a realistic cost per BBL — clarity beats perfection. - Turn margin insight into action.
Use what you learn to adjust pricing, rationalize SKUs, improve efficiency, negotiate with suppliers, and drive profitability.
Resources
Get the Brewery Profit Brief - actionable tips, tactics and strategies to run a more profitable brewery.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In this episode, we dig into how financial trouble usually shows up months before it becomes a crisis, and why so many owners and managers miss the warning signs.
When you’re busy fighting daily fires, reviewing financials weeks after month-end, and unsure which numbers truly matter, problems stay invisible until cash runs tight .
We walk through the concept of a financial early-warning system and explain how profitable breweries shift from reactive panic to calm, data-driven decision-making.
Instead of drowning in reports, they focus on a small set of leading indicators that flag issues early — while there’s still time to act. This isn’t about becoming a CPA - it’s about knowing where to look, how often to review, and what actions to take when numbers move out of range.
Key Takeaways
- Most brewery financial problems show up early — but only if you know which signals to watch
- A focused red-flag dashboard is more powerful than dozens of backward-looking reports
- Cash flow issues are usually operational problems in disguise
- Reviewing financial signals weekly creates faster, calmer course correction
- Stabilizing cash flow and margins must come before growth or optimization
Resources
Get the Brewery Profit Brief - tips tactics and strategies for a more profitable brewery
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In today's podcast we cover the basics of brewery budgeting, keys to success and 3 simple steps to get started building your plan today.
Key Topics
- Budget questions: Who, what, where, why, when and how
- Common obstacles and how to overcome them
- Budget quick-start guide
- The details: How to build the plan, models, tools and templates
- Financial cadence: How to use the plan every day
Resources
- Get the brewery profit brief - tips, tactics, and strategies to build a more profitable beer business
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Today, I sit down with Sean Lawson the founder behind Sip of Sunshine to unpack how careful planning, advisory boards, and a purpose-first mindset can carry a brewery through hypergrowth, supply shocks, and a once-in-a-century pandemic.
Sean walks us through the early days of homebrewing, the decision to contract brew at Two Roads to meet demand without giving up ownership, and the leap to a state-of-the-art Vermont facility just 16 months before lockdowns.
We explore how a high share of packaged product, strong retail relationships, and authentic brand loyalty kept the business resilient. As a certified B Corp, Lawson’s and has contributed millions to nonprofits focused on healthy communities—proving that purpose can be a growth engine, not a side note.
On the operational side, Sean opens the playbook: annual planning with monthly and quarterly reviews, KPI dashboards that spotlight cash, gross margin, COGS, and velocity, and a quarterly advisory board that challenges assumptions without dictating decisions.
We dig into the hard lessons from overcommitting on hops and preprinted cans, why vendor relationships matter when renegotiating contracts, and how to make tough people decisions while staying transparent and fair.
If you’re scaling a craft brand you’ll leave with practical tactics for forecasting, budgeting, negotiating, and building a cadence that turns numbers into action.
Grab the free Brewery Profit Brief - financial tips, tactics and strategies to build a more profitable brewery.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
What does it take to scale from a bold idea to a beverage category leader?
We sit down with Athletic Brewing’s CFO Evan Zawatsky and communications leader Chris Furnari to dig into the decisions that powered Athletic’s rise: owning production, investing in quality, and building a marketing engine that turns awareness into velocity.
Evan opens the playbook on why Athletic poured serious CapEx into state-of-the-art breweries in Connecticut and San Diego.
That move secured quality control, unlocked flavor innovation, improved margins, and gave the team agility to grow without supply constraints.
Chris explains how the brand story evolved from convincing people to try non-alcoholic beer to showing who it’s for: active, balance-minded drinkers who want great beer flavors throughout the week.
Together, they share how “cans in hands” at race finish lines and community events are key to brand building, how partnerships and earned media create the surround sound needed to convert trial into repeat purchase.
If you care about brewery finance, brand strategy, or the surge in non-alcoholic beer, this podcast is packed with practical and clear frameworks you can apply at any scale.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In today's podcast we show how breweries can turn recipe development and process innovation into real cash using the federal R&D tax credit, plus a clear path to claim refunds retroactively.
Maggie Crowley and Devin Medrick from Leyton explain the IRS tests, missed opportunities, state add-ons, and energy efficiency deductions.
• What the IRS four-part test means for brewing work
• Real examples: first-batch runs, recipe changes, process tweaks
• Eligible costs: wages at three levels, contractors, supplies
• Simple documentation that passes audit standards
• Typical credit ranges and three-year lookbacks
• State credits that stack with federal benefits
• Startup payroll tax offset for young breweries
• Recent law changes reversing R&D cost capitalization
• 179D and cost segregation for building upgrades
• Quick steps: check Form 6765 and ask your head brewer
Want to learn how your brewery can unlock R&D tax credits? Reach out to Maggie Crowley, mcrowley@leyton.com or visit Leyton for more details.
Don't forget to sign up for the free brewery financial training newsletter.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In today's podcast we lay out a simple path for Massachusetts breweries to use the Workforce Training Fund Express program for up to 100% reimbursement on financial training.
From eligibility to application steps, we reveal each step in the process to turn free training dollars into better profits and steadier cash flow.
• who qualifies and what reimbursement you can expect• how to find and choose pre-approved courses in the catalog
• what documents you need for the application• typical approval timing and how long approvals last
• why year end is the best time to apply• next steps to book a call and get guided support
For Massachusetts breweries, book a call with me and I’ll walk you through the entire application.
For breweries in other states, email me about grant programs in your area - Kary@BeerBusinessFinance.com - let's work together to get you grant funds to cover the cost of financial training in the new year.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
What does it really take to scale a brewery without losing your soul or your margins?
We sit down with Nicole Smith, co-owner of South Lake Brewing Company, to trace a path from high school sweethearts in Tahoe to a two-location operation balancing community, cash flow, and culture.
Nicole shares the unvarnished story of opening a second taproom and kitchen, why owner presence matters, and how to avoid cannibalizing your original location while still growing revenue.
We cover the small set of numbers that matter most—revenue versus forecast by channel, prime cost for food and beer, and labor as a percentage of net revenue—and how those guardrails drive daily scheduling, purchasing, and promotions.
From handling brutal seasonality in the shoulder months to embracing a kitchen to meet guest expectations, Nicole offers a field manual for independent breweries navigating a slower market.
If you want concrete tactics for expansion, community funding, and profitability without compromising what makes your brand special, this conversation delivers.
Connect with Nicole, nicole@southlakebeer.com
Subscribe to the free beer industry financial training newsletter
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
In today's podcast, Ross Stensrud from Tapwyse shares how craft breweries turn memberships, flash rewards, and push messages into recurring revenue and reliable taproom traffic.
Real data from 100+ brewery apps shows why monthly loyalty programs outperform annuals and how simple offers can drive measurable visits.
Key Takeaways
• Monthly memberships outperform annuals for recurring revenue
• The $1 weekly beer case study • How to use flash rewards to move slow inventory fast
• $5 locals program for weekday demand shaping - loyalty programs go beyond beer
• How to leverage push messages: High read and engagement rates
Don't forget to sign up for the Craft Brewery Financial Training weekly newsletter. Financial intel delivered straight to your inbox!
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Today on the podcast Andrew Coplon opens the playbook on Secret Hopper’s 10,000-visit dataset and shows how mystery shopping metrics translate into increased sales for your taproom.
We talk through the staff behaviors that lead to high engagement—prompt greetings, informed recommendations, and closing gratitude—and the numbers that follow: bigger tabs, higher tips, and dramatically faster return visits.
You’ll hear why a simple flight suggestion makes guests 350% more likely to order one and adds roughly thirteen dollars to the tab, how a to-go prompt can 4x purchases, and why tip percentage is a powerful proxy for engagement and training needs.
Today's conversation gives you scripts, benchmarks, and a practical framework to coach your team.
Learn more about Secret Hopper - helping taprooms grow with data-driven insights gathered through real mystery shopper visits.
Don't forget to sign up for the free, and financially powerful weekly beer industry finance newsletter - your income statement will thank you!
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
Beer volumes are down, dollars are soft, and the usual playbook isn’t working.
We brought back Lester Jones, chief economist at the National Beer Wholesalers Association, to cut through the noise with data, plain talk, and a clear plan for getting back to growth.
Lester breaks down what’s structural—demographics, consumption occasions, and channel mix—and what’s cyclical—slower hiring, fewer hours worked, and sticky inflation—and shows how those forces collide to shape beer demand in 2025.
We unpack the Beer Purchasers’ Index and why distributor sentiment remains cautious, then dig into category dynamics where cider and FMBs stabilize, below-premium holds steady, and draft shows surprising resilience as on-premise accounts multiply.
Lester argues the rubber band of pricing elasticity finally snapped: years of CPI-tracking increases met a year with little price and falling volume.
The fix isn’t blind discounting; it’s surgical price investment, smarter pack-price architecture, and a return to safety and velocity on shelves.
We also reframe on-premise: consumers want to socialize away from home, but aggressive pricing suppresses rounds.
The antidote is occasion-first programming—happy hour value, low- and no-alcohol that extends the visit, and draft that delivers ritual, freshness, and better margins.
Demographics get a rethink too. Instead of shouting at Gen Z, empower the 60-plus cohort—the wealthiest, most social audience—and design life-stage occasions that everyone wants to join.
On competition, we sort through RTDs, seltzers, and hemp beverages, noting where shelves will rationalize and where beer’s strengths—lagers with place cues, approachable ABV, and draft experiences—can win.
We also address policy turbulence around tariffs and taxes, urging unified advocacy while businesses adapt sourcing and operations to protect margins.
If you care about winning the next quarter without losing the next year, this conversation delivers a grounded strategy: price with purpose, simplify to velocity, program the on-premise, and market to moments that bring people together.
Subscribe, share with your team, and leave a review with one action you’re taking this week to move the needle.
And don't forget to sign up for the beer business finance newsletter - financial intel delivered weekly straight to your inbox.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
A CFO who became a head of marketing, eliminated millions in debt, and then built a company to fix distribution blind spots—Doug Veliky’s journey is a masterclass in making beer businesses sturdier and smarter.
We dig into the decisions that actually move the needle: building an internal audit team at Reyes that focused on real compliance risk, redesigning systems at Revolution to produce market-level P&Ls, and consolidating a spaghetti bowl of loans into a revolving line that turned heavy debt into daily cash efficiency.
That financial clarity paved the way for a bold move—buying the production facility—and gave the brewery control over the investments that shape its future.
We also get honest about how teams work.
Doug shows how finance, sales, and marketing can stop talking past each other by aligning on the data each team needs: shipments, depletions, pull-through.
The result?
Better forecasts, fewer surprises, and programs that actually show up on the shelf and in the tap list.
Doug's Beer Crunchers platform ties it all together, translating the mechanics of distributors, portfolios, and pricing into stories and tactics people at every level can use.
And when the world flipped, Doug brought a finance brain to digital marketing—prioritizing audience, cadence, and measurable impact.
Looking forward, Doug sees moderation evolving beyond non-alcoholic beer into “small beers” and right-sized formats that meet the moment—2.8–3.8% ABV cores and 8.4-ounce packs that fit weekday occasions without losing the ritual.
The catch is prioritization: make it a pillar or skip it.
We close with BrightBev, where Doug helps emerging brands choose the right distributors, set expectations, and invest alongside partners to win velocity, not just placements.
If you care about brewery finance, route-to-market strategy, and building brands that last, this conversation will sharpen your plan for the next four quarters.
Subscribe, share with a brewery friend, and leave a review with your biggest takeaway—what will you prioritize next?
And don't forget to sign up for the Brewery Financial Newsletter - tips, tactics, and strategies to help you build a more profitable brewery business.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
What if your taproom’s biggest growth lever isn’t price or new styles—but the first 15 seconds after someone walks in?
Today on the podcast we welcome back consumer insights expert Michael Varda of Craft Beer Advisory Services to unpack the data behind modern taproom behavior and why food, events, and hospitality now sit shoulder to shoulder with great beer.
The headline: beer gets guests in the door; the experience keeps them in their seats and brings them back.
We trace the post-pandemic shift from liquid-first to social-first to hospitality-first, showing how entertainment sparked the rebound and how food has become the decisive extender of “time in seat,” especially for women and families.
Michael explains why discounting erodes perceived value and how rewards-based loyalty (think “earn,” not “mark down”) protects brand equity while encouraging repeat visits.
He also breaks down the crucial differences between retail and taproom motivations—why a standout six-pack doesn’t automatically translate to a packed taproom—and how to design for the whole evening, not just the pour.
Expect practical tactics you can deploy immediately: optimize the first 15 seconds with warm greetings and clear wayfinding, train staff to scan, acknowledge, and mirror guest energy, and adopt one measurable focus at a time—like to-go prompts—to build momentum.
We highlight “time in seat” as the single most telling metric of taproom health, a simple read on satisfaction, engagement, and spend. And beyond dashboards, we make the case for pulling up a chair with a mix of regulars and new faces, asking better questions, and giving customers a voice in small decisions that build authentic loyalty.
If you’re ready to evolve from great beer to a great experience—without racing to the bottom on price—this conversation maps the path.
Subscribe, share with your team, and leave a review with the one change you’ll try this week.
And don't forget to sign up for the Brewery Financial Newsletter - tips, tactics, and strategies to build a more profitable beer business, delivered weekly.
Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.
New tax law just handed breweries a playbook to keep more cash in the business—if you know how to use it.
Today we’re joined by Brent Williams, CPA and brewery tax manager at Small Batch Standard, to translate the One Big Brewery Bill (OB3) into clear, practical moves owners can make right now.
From tips and overtime changes your team will feel on payday to the return of 100% bonus depreciation and immediate expensing for domestic R&D, we connect the dots between policy and day‑to‑day brewery operations.
We dig into the details that matter: how to label tips vs service charges in payroll so employees get the refund they expect and you keep the FICA tip credit; which assets truly qualify for full expensing and how to time purchases for the best tax outcome; why 199A remains a powerful 20% deduction for pass‑through owners; and how R&D applies to more than new recipes—it includes process improvements that reduce waste, speed up turns, or enhance quality. Brent also walks through retro choices for previously capitalized R&D costs, plus often‑missed credits like paid family and medical leave and small employer retirement plan incentives.
If you’re a small or mid‑size brewery planning equipment, considering a production build‑out, or just trying to make payroll and taxes play nicely, this conversation turns complexity into a checklist.
Bring clean books, schedule a projection meeting, and map out 2025 vs 2026 moves so depreciation, credits, and cash flow align. OB3 isn’t just policy—it’s a strategy to fund growth without squeezing margins.
If this was helpful, follow the show, share it with a brewery friend, and leave a quick review so more owners can find it.
Got a question about your brewery finances? Send it our way and we may tackle it in a future episode. Kary@BeerBusinessFinance.com
And of course, don't forget to sign up for the free brewery financial newsletter - filled with tips, tactics and strategies to help you run a more profitable brewery.
Ready to stop guessing about your brewery's food profitability?
Today's podcast reveals exactly how to transform your taproom food program from a necessary evil into a genuine profit center.
Most brewery owners didn't get into the business to become restaurateurs, yet many find themselves reluctantly managing food programs because customers expect food options. The challenge? Food operations are notoriously complex both financially and operationally, leading many breweries to operate food programs that secretly drain profits rather than enhance them.
The solution lies in understanding three critical financial practices and three operational strategies that eliminate the guesswork from food profitability. We explore how separating your food operations in your accounting system creates visibility, how tracking specific benchmarks reveals hidden problems, and how using contribution margin (not just percentages) shows where you're actually making money.
You'll discover why successful food programs use narrow menu strategies with limited ingredients, platform approaches where common bases create variety, and menu engineering that categorizes items as stars, dogs, plow horses, or puzzles. This systematic approach helps you promote high-margin items customers love while eliminating profit-draining options that hurt your bottom line.
The episode provides a clear five-step action plan: audit your current menu, identify margin drainers, reprice or remove problematic items, track costs regularly, and share metrics with your team. Plus, learn about technology solutions that can dramatically reduce the manual work while increasing visibility into your food program's performance.
Whether you're running a full kitchen or just offering simple snacks, this episode delivers the framework you need to build a smart, sustainable, and profitable food program that enhances your core business rather than detracting from it. Download our free Brewery Profit Toolkit and transform your approach to taproom food today.
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What happens when you combine accounting expertise, homebrewing passion, and entrepreneurial spirit?
For Elliott H. Johnson II, it was creating Soul Mega – a thriving beer brand that's challenging traditional craft brewery models.
In this illuminating conversation, Elliott shares his journey from making "really bad" homebrew batches to building a recognized beer brand without a physical brewery.
Soul Mega's contract brewing approach allowed them to enter the market with minimal capital investment, focusing instead on wholesale distribution and community building.
When COVID-19 hit just six months after their launch, Elliott pivoted to become "basically an Uber Eats driver for a year," personally delivering beer to maintain customer relationships.
What makes Soul Mega distinctive is their approach to creating taproom-like experiences without a physical space.
Their signature event, Mega Fest, combines a beer festival with DJ performances and community celebration – perfectly embodying their mission to "promote creative culture and inspire folks to pursue their interests and passions."
Strategic collaborations with established breweries like Stone, Port City, and Tröegs have expanded their reach, while partnerships with graffiti artists for label designs connect the brand to creative communities.
Elliott's financial background shines through in his meticulous approach to business management. He maintains a 13-week cash flow forecast, uses CRM software to track account performance, and prioritizes in-person visits to high-performing retailers.
His candid insights about navigating challenges – from finding a new contract brewer when their original partner suddenly closed to handling regulatory hurdles – provide valuable lessons for any entrepreneur.
Whether you're considering alternative brewery business models, looking to strengthen your brand connection with customers, or seeking practical strategies for sales growth without a taproom, this episode delivers actionable wisdom from someone who's making it work against the odds.
Thor Cheston shares the remarkable journey of Right Proper Brewing Company, from its successful 2013 brew pub opening to the challenges of expansion and the transformative power of implementing open book management.
His candid insights reveal how focusing on core products, financial transparency, and efficient operations turned their struggling production facility into a thriving business with healthy EBITDA.
• Starting as a Georgetown student who fell in love with craft beer while working at a pizzeria
• Opening Right Proper Brewing in 2013 as a neighborhood hub with immediate success
• Expanding too quickly in 2015 with a production facility that struggled for years
• Pivoting in 2019 from creative-driven to leadership-focused business model
• Implementing open book management with full financial transparency
• Reducing product line to focus on consistent, marketable core beers
• Displaying financial statements on 8x16 foot whiteboards for all employees to see
• Creating incentive programs where employees share in profits when goals are met
• Understanding that profit enables purpose rather than being the purpose itself
• Building a business model specific to Right Proper rather than copying other breweries
You can reach Thor Cheston at Right Proper's Brookland facility at 202-247-6274.
He welcomes text messages and is always happy to talk with fellow brewery professionals.
We dive into mastering your brewery budget with a practical three-step approach that transforms financial planning from overwhelming to achievable. This workshop provides tools and strategies to create a useful financial roadmap that aligns with business goals.
• Begin with the end in mind – set one clear financial goal (typically 10-15% profit) before planning anything else
• Know your stakeholders – identify requirements from banks, investors and others to incorporate into your plan
• Set firm deadlines – create a budget preparation timeline with clear responsibilities and milestones
• Use historical financial analysis to establish context for your projections
• Break down planning by department and involve team members to create ownership
• Consider balance sheet and cash flow implications, not just P&L
• Implement weekly financial huddles to shift from lagging indicators to leading indicators
• Use visualization tools like dashboards to make financial data more accessible
• Remember that budgeting isn't just about spreadsheets but about creating a financial roadmap
Join the Beer Business Finance Association to access the complete Brewery Budget Course with all tools and templates discussed in this workshop.
Sara Watson and her husband Brent turned their dream into reality with Vacancy Brewing in Austin, Texas, combining his brewing expertise with her hospitality marketing background to create a community-focused taproom experience.
• Building Vacancy Brewing after a six-month road trip across North America to find the perfect location
• Hiring a taproom manager to allow the founders to focus on business development instead of daily operations
• Implementing tighter beer loss and discount policies with transparent communication to improve margins
• Tracking weekly taproom net sales compared to both prior year and budget to stay proactive
• Creating the Vacancy Collective membership program to transform loyal customers into brand ambassadors
• Balancing innovation with consistency by maintaining core beer styles while rotating specific recipes
• Successfully navigating lease renewal challenges by gathering knowledge from multiple real estate professionals
• Finding the sweet spot between doing tasks yourself and knowing when to bring in outside expertise
Visit Vacancy Brewing in South Austin, find them online at vacancybrewing.com or on social media @VacancyBrewing to learn about their events including karaoke, trivia, music bingo, and more.
Brian Deignan shares how his brewery, Validation Ale, achieved 29% growth last year through systematic innovation and strategic expansion while he, as an owner, maintained a Monday-Friday, 9-5 work schedule.
Brian explains his unique concept where beers compete for menu placement based solely on sales data, and his methodical annual process for identifying growth opportunities.
• Validation Ale's competitive model forces continuous innovation with 143 unique recipes created in three years
• Each beer category features a "validated" beer and a challenger that can replace it if sales are higher
• Brian's systematic "growth driver" process evaluates potential initiatives based on revenue potential, capital requirements, and feasibility
• Distilling spirits emerged as this year's growth initiative, generating 28% beverage revenue increase from day one
• Building consistent profitability across all days of the week took patience—nearly 2.5 years before lunches and slow days became profitable
• Staff culture focuses on training managers to "think like owners" through regular coaching and biweekly all-staff meetings
• Social media marketing works best when showcasing behind-the-scenes content with staff rather than polished promotional material
• High engagement metrics don't always translate to actual customer visits—line dancing content went viral but only two people attended
Key Takeaway: For brewery owners struggling with financial challenges, implement a systematic growth driver exercise to identify new revenue opportunities rather than remaining stagnant in a shrinking market.
Resources
- Learn more about Validation Ale
- Sign up for the FREE brewery financial training newsletter
Each month, the Beer Business Finance Association will shine a spotlight on one exceptional craft brewery to explore what makes their business thrive.
In this exclusive conversation, we hear from Jake Lohse, Founder of Presidential Brewing.
We go beyond the beer to uncover best practices, smart financial strategies, creative sales tactics, and the real-world lessons they've learned.
This is your front-row seat to learn from peers who are building profitable, resilient breweries and raising the bar for the industry.
Whether you're a new brewery or a seasoned operator, you’ll walk away with fresh ideas and proven tactics to grow sales, improve profitability, and strengthen your business.
Resources
- Learn more about Presidential Brewing
- Check out Jake's book: Shifting Gears, The Ultimate Road Map to Crafting Your Legendary Brewery or Restaurant
- Get the free brewery finance bulletin
Today on the podcast Brynn Keenan from Grist Analytics talks brewery operations, data-driven decision making, and how Grist helps breweries improve performance.
Grist Analytics provides data-driven solutions that help breweries optimize their production processes by transforming raw brewing data into actionable insights.
Their platform enables consistent quality, improved efficiency, and reduced waste through real-time monitoring and advanced brewing analytics.
Key Points
- How to replace paper brewing logs with a powerful data analytics tool
- Tips to overcome a big brewery challenge - effective production scheduling
- Benchmarking study and the 360 degree efficiency review
Resources
- Connect with Brynn, brynn@gristanalytics.com
- Get the free brewery financial training newsletter
In today's podcast you'll learn how MarginEdge gives you accurate insight into taproom profitability on a daily basis—no waiting for end-of-month reports.
What are your most profitable menu items?
Where are costs increasing and eating into profits?
How do we get everyone talking about the numbers and helping achieve financial success?
You'll get answers to these questions and more to help your increase taproom profits.
Key Points
- How to properly price menu items for profit
- Tactics to stay laser focused on margins every single day
- The power of the "Controllable P&L" - a real-time look at taproom profitability
- Features and benefits of MarginEdge: Automated invoice processing, real-time food and beverage cost tracking, menu item analysis, and much more
Resources
- Connect with Andre from MarginEdge, andre@marginedge.com
- Watch the video replay of this free workshop
- Sign up for the FREE brewery financial training newsletter
Today on the podcast we talk loyalty programs, memberships and recurring revenue strategies with Ross Stensrud from Tapwyse.
Tapwyse creates custom apps to create predictable and repeating income for your brewery business. Need a solution for slow seasonal business cycles? Tapwyse can help.
Key Points
- How to use the $1 beer to get a 17x return on investment
- Flash rewards: How to use push notifications to instantly reward customers and get them coming back more often
- Want to sell more to-go beer? Learn how this brewery used Tapwyse to sell out of one SKU and bring in an additional $1k in the process
- How to create sticky, trackable, and profitable marketing campaigns
Resources
- Connect with Ross to learn more about Tapwyse: Ross@tapwyse.com, or by cell, 760-209-6048
- Get the FREE financial training newsletter for breweries
Today on the podcast we hear from Chris Dial, Insurance Specialist at CS&A insurance and Owner of Wanderlinger Brewing Company in Chattanooga, TN.
Chris knows the brewery business as an owner and operator of Wanderlinger. And now he's using his skills and experience to help other brewery owners properly insure their businesses with the right coverages at the right price.
Summary
- Insurance cost-savings opportunities you might not even know exist
- "The chiller died...but the brewery didn't." Hear the story of how the right insurance paid off for this brewery
- Biggest brewery insurance mistakes...and how to avoid them
Resources
- Connect with Chris on LinkedIn, by phone 615-496-6070, or email chris@wanderlinger.com
- Sign up for the FREE brewery financial training newsletter
Credit card processing fees can eat away at your brewery's profits, but expert Patrick MacLellan from Merchant Cost Consulting shows how you can save an average of 20% on these costs without changing your current processor or disrupting operations.
Summary• 3 main fee components: interchange charges from card brands, processor markups, and miscellaneous fees
• Why most businesses are overpaying – processing statements are deliberately confusing and contracts often allow price changes without notice
• How processors typically adjust pricing three times per year, slowly increasing your costs
• The truth about POS systems that bundle processing with their software solutions
• How to identify bogus fees like non-PCI compliance charges that can be eliminated
• Pros and cons of customer surcharges and how to implement them legally
• Contract considerations including early termination fees and auto-renewals
Visit merchantcostconsulting.com to learn more or request a free statement analysis to see potential savings.
Sign up for the FREE brewery financial training newsletter.
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 Points
- Pricing and process for outsourced bookkeeping
- Common pitfalls with brewery bookkeeping
- Software tools to keep the financials running smoothly
- Financial standard operating procedures
Resources
- Learn more about outsourcing your brewery bookkeeping with Reconciled
- Get 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 Points
- 5 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 results
Resources
- Join the network of brewery owners and managers focused on improving financial results
- Get 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.
Summary
- Biggest brewery marketing mistakes...and how to avoid them
- Customer buying trends and how breweries can position their brands for success
- Specific marketing tactics that really move the needle for small/mid-size breweries
Resources
- Connect with Jon Reynolds, brewplanmarketing@gmail.com
- Get 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.
Summary
- How to use financial trend analysis to spot problems with gross margins
- Simple break-even analysis tools
- Tactics to present the income statement on a "per barrel" basis
Resources
- Get the free brewery financial training newsletter
- Learn 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.
Summary
- The 4 key factors to a successful brewery
- Creative funding for a start-up brewery
- Strategies to bring guests back to your taproom again and again
Resources
- Connect with Jake, jake.lohse@presidentialbrewing.com
- Listen to the first podcast with Jake: Ultimate Road Map to Create Your Legendary Brewery
- Grab 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 important
- 7 benefits of market analysis
- Resource run-down of brewery data to make informed decisions
Resources
- Connect with Jon Reynolds from BrewPlan Marketing, brewplanmarketing@gmail.com
- Grab 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.
Highlights
- Bob's process for identifying and eliminating unnecessary expenses
- Biggest cost-saving opportunities that companies commonly overlook
- The most surprising savings P3 has been able to secure for clients
- Trends in business expenses today, and where breweries will need to focus their cost-saving efforts in the future
Resources
- Connect with Bob, bhiggins@costanalysts.com
- Get 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 done
- Follow a simple SOP template: Define the goal of the SOP, define how success will be measured, identify a responsible person
- Grab this Inventory Management SOP template
Join 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 reduction
- Benchmarking 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?
Resources
- Get 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 Points
- Lease terms, definitions, what you need to know
- How to build 'optionality' into your brewery lease
- Triple net lease watch-outs
- Negotiation strategies and tactics
Resources
- Join 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 Points
- Growth in non-alcohol beer and ready-to-drink products
- On-premise results
- Health guidelines and the impact of tariffs
- Trends in cannabis and crossover brands
Resources
- Connect with Dave, dave@bumpwilliamsconsulting.com
- Sign 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 Takeaways
- 2 cost analysis models to identify and reduce unnecessary spending
- 5 cost cutting tactics to reduce expenses
- 5 initiatives to implement right away to quickly lower costs
Resources
- One of the best books out there on cost-cutting: Double Your Profits in 6 Months or Less, Bob Fifer
- Free 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 Points
- Sales forecasting best practices
- Brewery revenue drivers and key metrics to simplify planning
- Tools and models to build a comprehensive marketing plan
- Tactics to align sales and marketing to achieve revenue goals
Resources
- Connect with Chris to super charge your brewery marketing plan, chris@gethoptimized.com
- Learn 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 Points
- 3 steps to supercharge your 2025 financial plan
- Best practices for building your financial key metrics dashboard
- 6 questions to ask before building your budget to ensure success
Resources
- Join the network of brewery owners and managers focused on driving financial results
- Get the free brewery financial training newsletterdelivered 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 Points
- The characteristics that set legendary breweries apart from the others
- Advice for new brewers who want to stand out in today's market
- How and when to scale your brewery
Resources
- Check out Jake's new book: The Ultimate Roadmap to Crafting Your Legendary Brewery or Restaurant
- Learn 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 Topics
- How to create a process for predictable financial results
- How to build a plan that allows you to work ON your business not IN it
- One book you must read to build a better business plan, and one book you must read to build a better business
Resources
- Free mini-course: 5-Step Process Brewing Financial Excellence
- Free 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 Topics
- How to use lagging indicators, leading indicators, process goals, and outcome goals
- Best practices in choosing key metrics
- Example scorecards, templates, and dashboards
- How to align compensation and KPIs
Resources
- Learn 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 Points
- 65% of covered workers in the U.S. have self-funded health insurance
- Self-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 companies
Resources
- Watch the video of my interview with Erin and download the self-funded health insurance presentation deck
- Connect 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 Takeaways
- Use the 6 building blocks to organize the planning process
- The X Factor to financial planning success
- How to crowd source the best ways to grow sales and cut costs
- Simple and complex financial models to build your best plan
Resources
- Join 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 Points
- Terms defined: Dark web, deep web, surface web, ransomware
- How hackers break in to your systems and what you can do to prevent this
- Basics of compliance testing and risk assessment
- Tips for creating and managing those pesky login credentials
- The case for a cybersecurity committee
Resources
- Connect 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 Points
- State of the industry: Trends in costs and commodity pricing
- Brewery purchasing 101: Best practices
- How to properly source key ingredients
- Keys to benchmark your costs against industry averages
Resources
- Connect with Tim Near and learn more about how to save money
- Listen to the Brewery Supply Chain Management podcast
- Join 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 reduction
- Share the Brewery Financial Training Program with your managers and staff – train them in the ways of identifying and reducing (or eliminating) bloated costs
- Key challenges we discussed: Controlling costs related to production and materials, freight and shipping, finding efficiencies, avoiding cost surprises, improving culture and communication
- 78 Ideas to cut costs and improve financial results – Double Your Profits in 6 Months, by Bob Fifer
- Dan Klasen from the Beverage Federation shared details on the group purchasing organization (GPO) to help you save a ‘craft load’ of money
Join 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 Topics
- How to finance a start-up brewery, buy an existing brewery, or make a partial acquisition using SBA loans
- State of the lending industry: Credit availability, interest rates, trends
- What does the future of lending look like? Scott looks into his crystal ball and shares his observations
Resources
- Connect with Scott and learn more about brewery acquisition financing, sbirkner@dsbnc.com
- Join 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 Topics
- Major 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 brands
- Crystal ball time. What does the future hold for NA beer? Listen in for Dave's full analysis
Resources
- Connect with Dave Williams, Dave@BumpWilliamsConsulting.com
- Join 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 revisit
- Why 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 Marketing
- Learn 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 Points
- How to develop an app for your brewery to grow sales and create predictable recurring revenue
- Best 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 often
Resources
- Get in touch with Ross and learn how to grow taproom sales with recurring revenue, ross@tapwyse.com
- Join 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 Dashboard
In 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 breweries
- KPI best practices: How to pick the right numbers for your business
- Sample brewery KPI Scorecards and templates to download
- Tips to build dashboards and KPIs in your brewery management software
Do this next:
- Watch the webinar replay: How to Build Your Brewery Key Metrics Dashboard and download the Presentation Deck
- Join 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 Topics
- Lessons 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 business
Resources
- Connect with Brian at Validation Ale
- Learn 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 Topics
- Key drivers of brewery profits
- Scorecards to measure and improve the bottom line
- Most effective ways to cut costs, increase margins and grow sales
- How to create a profit plan and profit routine
Resources
- Learn more about the brewery financial round table
- Watch 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 Topics
- How to join the brewery community dashboard
- Favorite KPIs from Jamie and Jim
- Benchmarking against your peers vs. brewery historical performance
Resources
- Sign up for the brewery community financial dashboard
- Learn 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 Topics
- Top reasons why bonus plans fail...and how to avoid them
- Bonus plan best practices
- How to use mini-games to create 'early wins'
Resources
- Connect with Larry Chase
- Learn 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 Topics
- How much to spend on brewery marketing
- The marketing metrics that matter for craft breweries
- How to use 'funnels' to bring more customers into your taproom
Resources
- Connect with Chris Overlay
- Learn 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 Topics
- Why it's crucial for beer producers to understand the financial intricacies of their business in today’s competitive market
- Insights 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 effectively
- How 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
Resources
- Learn more about Ohanafy, or schedule a Demo
- Join 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 Points
- Quarterly financial round-table meetings with beer industry peers
- 24/7 online access to a library of brewery financial training courses
- Access to brewery workshops and webinars
- Brewery planning templates, models and spreadsheets
Resources
- Book 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 Points
- 99% of breweries in the U.S. see taproom operations as the biggest profit driver
- How to align employee compensation and incentives with top brewery objectives
- Examples and benchmarks to follow when setting up incentives
- First steps to implement a variable comp plan in your brewery
Resources
- Connect with Aaron Gore, aaron.gore@arryved.com
- Learn 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 Points
- The #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.
Resources
- Learn more about Craft Beer Advisory Services
- Join 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 Topics
- Case studies of how Ninkasi and New Belgium cut production costs and increased tank capacity
- KPI's used to track efficiency, throughput, resource utilization and equipment performance
Resources
- Connect 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 Topics
- Cape May's financial and business planning process, software stack and 2024 goals
- SWOT planning, Swim Lanes, and Resolutions - Cape May's keys to success
- How to use a business coach in business planning
Resources
- Connect with Justina Marcial at Cape May Brewery
- Learn 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 Topics
- Trends in ABV, beer styles, pack sizes - what's working, what's not
- What you need to know about pricing and price elasticity
Resources
- Learn more about BWC and connect with Dave on LinkedIn
- Learn 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 Points
- How to motivate your taproom manager to tackle the budget
- The first steps you should take when starting your plan
- Models and explainer videos to guide you through creating your taproom financial plan
Resources
- Learn about Taproom Success and claim your FREE MONTH
- Taproom 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 Points
- Types of SBA loans available to breweries
- Eligibility requirements, interest rates and terms
- The most common errors breweries make in their financial projections
- Specific requirements for start-up brewery loans
Resources
- Connect 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 Points
- Top 3 growth strategies for retailers, wholesalers, and breweries
- The divergence of growth strategies keeps getting wider
- How beer industry companies can use this information to align their own growth plans
Resources
- Learn more about how Bump Williams Consulting can help with your growth strategy
- Join 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 Takeaways
- The 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
Resources
- Learn how Secret Hopper can transform your taproom business
- Data 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 Topics
- Metazoa's brewery financial planning process
- Software stack, key metrics, and compensation structures
- Favorite industry publications, resources, and podcasts
Resources
- Connect with Lauren Frederick - Lauren@metazoa.beer
- Join 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 Topics
- How to use a payment platform to speed up collections from retailers
- Options to pay suppliers and vendors using Melio
- Otherwise Brewing's journey to create a gluten-free brewery
Resources
- Connect with Kate at Melio Payments: kate.michalowski@melio.com
- Learn 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 Topics
- How breweries can use creative benefits as a recruitment tool
- Insurance cost reduction tactics for breweries
- Areas where a broker can/should add value
- Trends in the industry
Resources
- Learn more about the
- Join 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 podcast
Tranice takes us through the state certification process, how to search for grants, and how the application process works.
Key Points
- How to search for grants (state and local)
- Types of grants (50/50 cost share or 100% funded)
- Keys to writing successful grant applications
Resources
- Connect 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 Topics
- Volume is good, profits are better, how to use VxP to increase both
- How to align sales rep incentives with overall growth of the business
- How to get suppliers involved with incentives and co-op dollars
Resources
- Learn how to increase gross profit by 20 cents per CE in your business
- Check 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 Contract
- Seek first to understand: Basic contract structure and terms
- Know your state laws
- Do your research, ask questions, determine the distributor options
- Play a game you can win – Develop your own standard contract.
- Self-distribute – Enter into a contract with yourself
Resources
- Get the free finance newsletter for breweries
- Learn 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 Topics
- Financing trends in the brewing industry
- How to prepare for an SBA loan: When to start and what information you'll need to finish
- Loan requirements for start-up breweries
Resources
- Learn more about SBA lending with Dogwood State Bank, or email Scott at sbirkner@dsbnc.com
- Join 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 Topics
- Logistics of mobile canning
- Pricing, contracts, expectations, roles and responsibilities of mobile canning
- Trends in package sizes and configurations
Resources
- Learn more about Iron Heart Canning and mobile canning services
- Get the free brewery finance newsletter
Chris Holden is Director of Sales and Marketing for the Hop Guild and a grower in New York state. In today's podcast, Chris shares his insights on the state of the hop industry, recent trends, and talks about a new product called HOPSAUCE.
"HOPSAUCE® is The Hop Guild‘s proprietary hop oil developed to replace traditional hop products on the hot side and in the whirlpool. HOPSAUCE® will enhance flavor and aroma as well as reduce wort loss. HOPSAUCE® is flowable at room temps and makes for a perfect whirlpool product!"
Key Topics
- State of the hop industry and recent trends
- Hop contracts 101
- Production forecasting tips
- HOPSAUCE®, a new product that improves yield and saves money on shipping and storage
Resources
- Learn more about Hopsauce
- Sign up for the free brewery financial newsletter
In today's podcast we talk lessons learned starting, running and selling a brewery with Jeremy Cowan, founder of Shmaltz Brewing.
Jeremy's advice to those who want to start a brewery?"Don't."
"100% do not start a brewery. Go find a really cool brewery where the owners are spread a little thin, and go buy one, or become a partner...before you ever start your own brewery."
Key Topics
- Options to invest in a brewery, without actually starting one
- How to raise pricing and margins with sustainability initiatives
- Jeremy's advice for brewery owners looking to sell
Resources
- Connect with Jeremy on LinkedIn
- Learn about a new network of brewery owners and operators: Beer Business Finance Association
Today we talk cash flow with ResolvePay co-founder and CEO Chris Tsai. ResolvePay is a tool that takes the guesswork out of credit checks, and helps you manage and improve cash flow.
Whether you are a brewery in self-distribution or a supplier servicing the beer industry, ResolvePay can help your business improve cash flow.
Key Topics
- How to use "buy now, pay later" to increase sales and boost cash flow
- Tools to automate credit checks and assessments
- A complete solution for accounts receivable and payment processing
Resources
- Learn more about how ResolvePay can improve your cash flow
- Get the free brewery finance newsletter
Today on the podcast we hear from Jeremy Cowan, founder of Shmaltz Brewing and Coney Island Brewing. Jeremy shares his journey from starting to selling his breweries and lessons learned along the way.
Jeremy talks about one of his passions: Helping breweries to lose less money.
This may not be the most optimistic way to frame the problem (losing money) but it can be a very practical first step for breweries working towards profitability.
Key Topics
- Lessons learned in starting, running and selling a brewery
- How to "lose less money in your brewery"
- Contract brewing: Is it still relevant?
Resources
- Learn more about Arryved POS
- Get the free brewery finance newsletter
In today's podcast you'll hear the audio version of our webinar with Kegshoe on Managing Your Keg Fleet: The Hidden Costs and Opportunities.
The old saying goes that "kegs have legs", and they tend to go missing. On average breweries lose 5-10% of their kegs each year, which can add up to a lot of dollars.
However, breweries using Kegshoe lose only 1% of their kegs each year - a substantial improvement, and substantial savings for your bottom line.
It is super important to have a good system to track and manage your keg fleet to safeguard this important asset and avoid expensive keg losses, and Kegshoe might just be your solution.
Key Topics
- Keg lease vs buy basics
- Why brewery owners care about tracking kegs
- Tactics and tools to forecast keg needs
- Tools to track, monitor and mange your keg fleet
Resources
- Learn more about Kegshoe
- Get the free brewery financial training mini-course
On today's podcast we hear from Tess Gorman from Attensi, the global leader in gamified training simulation.
Brewery owners are always on the lookout for ways to improve employee training, and Attensi just might be the solution.
Key Topics
- How to connect brewery KPIs to training so that you can see measurable improvement
- Train staff to increase sales using the upsell
- Training programs to reduce employee turnover
- How to use training for career development
Resources
- Learn more about Attensi
- Get the Free brewery financial newsletter
Michael Varda, founder of Craft Beer Advisory Services, shares his insights on how to use data to drive more customers to your taproom.
Michael's firm is the first and only full service market research firm exclusively dedicated to the craft beer industry. And he has a lot of profitable information to share.
Key Takeaways
- Using data to create a dynamic marketing plan
- Beer industry trends, and keys to success in 2023
- A sneak peak at the Top Taprooms of 2022
Resources
- Get the free brewery financial newsletter
- Learn more about Craft Beer Advisory Services
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 Topics
- Beer data and trends to watch
- On premise vs. off premise volume and growth
- Trends in pack counts, sizes, formats
- Brewery openings and closings
- Bart's forecast for 2023
Resources
- Learn more about Bart's work with the Brewer's Association
- Get the free brewery financial training newsletter
Today we hear from Candace Moon the Craft Beer Attorney. Candace shares her knowledge and experience around the laws and considerations when opening and running your brewery.
Key Topics
- Important legal documents for your beer business
- What you need to know about securities laws when raising investor money
- Brewery contract basics
- Best practices for compliance with state and federal rules
- How to build your team so that you don't have to do all this yourself
Resources
- Learn more about the Craft Beer Attorney
- Check out a new resource - Start a Brewery.com
- Sign up for the free brewery financial training newsletter
Today we hear from Michael Varda from Craft Beer Advisory Services. Michael's company helps craft breweries increase sales and sharpen marketing with consumer intelligence research.
Michael shares tips and tactics from his consumer intelligence research: What makes customers drink what they drink? What decisions drive where they go? And how can you can use this data to make intelligent business decisions for your brewery?
Key Topics
- Top reasons why customers will come back to your taproom
- The 6 types of customers and how to use this information to drive more taproom traffic
- Research Reports: Brand Analysis, Custom Benchmarks, Go-To Market Strategy, and Consumer Motivation
Resources
- Learn more about Craft Beer Advisory Services
- Get the financial training newsletter for breweries
Today we hear from Chris Overlay from Get Hoptimized.com, a digital marketing agency that is laser focused on craft beverage.
Chris shares the details on the wifi-gateway. What is the wifi-gateway? Possibly, the best marketing tool you've never heard of.
Key Topics
- Recent trends in brewery marketing
- Chris' Hot Takes: Google Display, Loyalty Programs, and the wifi-gateway
- Top SEO metrics to track: bounce rate, pages/session, time on site
- How to win more customers by understanding the customer journey
Resources
- Learn more about Get Hoptimized
- Get the financial newsletter for breweries
Interest rates are rising and the cost to borrow money is getting more expensive. In today's podcast, Jason Sleeman from UCBI shares his insights on how to deal with the effects of inflation and rising interest rates.
Key Topics
- Top banking and financing trends facing the beer industry
- The nuts and bolts of re-structuring your loans
- Tips to find grants and outside equity
Resources
- Podcast: Brewery Financing Tips for 2022
- Get in touch with Jason Sleeman: jason_sleeman@ucbi.com
- Get the free for the brewery financial newsletter
In today's podcast you'll hear the audio version of our recent webinar on How to Build Your Brewery Financial Plan. We'll review how to put together your sales plan, margins, operating expenses and bottom line.
Key Topics
- Financial planning best practices
- Budget pitfalls to avoid
- 6 Steps to build your financial plan
- Tips to overcome the 'overwhelm' when preparing a budget
- Spreadsheet models and tools to get you started
Resources
- Register to watch the brewery financial planning webinar
- Get access to the brewery financial newsletter
The craft beer industry is filled with great people, but none better than today's guest, Andrew Coplon from Secret Hopper.
Secret Hopper is a mystery shopping company for taprooms. In today's podcast, Andrew explains how it works and why it's valuable for taproom managers and brewery owners.
Key Points
- 4 data points you need to know to grow taproom sales
- Tips to grow taproom sales as we head into Fall and Winter
- How to create more memorable (and profitable) experiences in your taproom
- Top takeaways from the Craft Beer Professionals Connects live event
Resources
- Learn more about Secret Hopper
- Learn more about the Taproom Success Membership, a training resource for taproom managers and staff
- Sign up for the brewery financial newsletter
Today on the podcast we talk with 5th Ingredient Founder and CEO Pulkit Agrawal. Pulkit shares how brewery management software Beer30 uses data to help you produce better beer and better business results.
Key Topics
- When do you need a brewery software system?
- 10 steps to implementing brewery management software (watch the video)
- The questions to ask when researching brewery software
- Top brewery KPI's and key metrics to track
Resources
- Learn more about Beer30
- Sign up for the brewery finance newsletter
Today we hear from Kyle Rheiner from Arthur Hall insurance. We talk about year end planning tips for breweries, the impact of inflation on insurance costs, and the main drivers of insurance expense (and what you can do to reduce them).
Kyle C. Rheiner is a Certified Insurance Counselor and is the Food & Beverage Practice Leader at Arthur Hall Insurance in West Chester, PA. Kyle has over 20 years’ experience in the hospitality industry along with actually brewing and distilling craft beverages.
He and his team handle the insurance for over 150 restaurants & craft beverage makers in the USA. Kyle is also the Host of The Beer Mighty Things Podcast.
Resources
- Contact Kyle Rheiner: kyle@craftbrewinginsurance.com
- Listen to the first podcast with Kyle: Use this simple tip to save thousands on your brewery insurance
- Sign up for the brewery financial training newsletter
In this podcast you will learn about a new 1-on-1 financial service just for craft breweries: The Brewery CFO in a Box.
What is it?
- Customized in-depth financial analysis
- One on one consulting
- Full financial training program for you and your staff
- Developed based on my 25 years of experience as a CFO in the beer industry
Why do I need it?
- Get 1-on-1 help to set up your financial budget, analyze your financial statements, and benchmark financial results
- Get monthly support from a brewery CFO to help you stay on track with your financial goals
- To learn more, listen to the podcast!
Resources
- Book a time to talk with me one-on-one about the Brewery CFO in a Box package
We are excited to welcome Chema Mora, Business Development Manager of the Cicerone® Certification Program.
We talk regularly of the importance of professional development, and programs like Cicerone are a valuable opportunity for you and your brewery taproom team to further your education.
The Cicerone Certification Program offers a path to advance your career and the knowledge of your team.
Join Advanced Cicerone Chema Mora, Business Development Manager for the Cicerone Program, as he shares an inside look at the program and shares tips and strategies to meet your goal.
Whether you are studying for the next exam or just hearing about the program for the first time, there is something for you.
Resources
- Contact Chema at chema@cicerone.org
- Learn more about the Taproom Success Manager Certification
- Sign up for the brewery financial newsletter
Today we hear from Tim Irvin and Chris Murphy from Clifton, Larson, Allen, LLP, a CPA firm that specializes in craft beverage businesses.
Tim and Chris share their insights and best practices on brewery financial planning, cash flow planning, debt structures, and wealth management.
Key Topics
- Brewery financial planning best practices
- Tactics to get a good understanding of your brewery cost structure
- How to develop your capital plan
- Wealth management considerations and resources
Resources
- Learn more about CLA
- Connect with Tim Irvin and Chris Murphy
- Sign up for the brewery financial training newsletter
Today we talk about open book management with Larry Chase. Larry served for eight years on the brewer's association board of directors on the finance committee and as treasurer.
Larry's passion is to show brewery managers and employees how their role impacts the financial success of the business.
Key Topics
- How to build a culture of ownership
- Keys to high involvement planning
- Tactics to create consistent financial results in your business
- Larry's favorite industry publications
Resources
- Connect with Larry Chase
- Learn more about the Brewery Open Book Management Course
- Sign up for the brewery financial training newsletter
Today we hear from Nancy Trigg, Chief People Officer at Arryved. Arryved is the point of service system built specifically for the craft beer industry.
Nancy shares her perspective on the most important features of a POS system, key questions to ask when selecting a system, and her favorite taproom key metrics.
Key Topics
- Critical measurements for your taproom business
- Essential reports to run from your POS system
- Tactics to improve customer loyalty
- Future innovation for taproom point of sale systems
Resources
- Read the blog - 6 Essential Reports From Your POS System
- Sign up for the brewery financial training newsletter
In today's podcast we hear from Lift Bridge Brewing CEO Dan Schwartz. We talk about all aspects of financial planning, business planning, compensation structure and much more.
We'll dig into the nitty gritty of the brewery financial planning process. Who should be involved, how long it should take, and exactly what you should be doing to build your plan.
Key Topics
- Best practices to improve financial results in your brewery
- Brewery software stack used by Lift Bridge Brewery
- Tips to build a detailed sales forecast
- Software stack used by Lift Bridge Brewery
Resources
- Learn more about Lift Bridge Brewery
- Sign up for the brewery financial training newsletter
In today's podcast we talk strategies for marketing beer to women with Kristen Bernier. Kristen is a brand and communication strategist, and shares her insights on how breweries can grow sales in a challenging market.
Key Topics
- How do identify what your brand is, what you stand for, and how to stand out from the crowd
- How to be intentional and build your brand 'on purpose'
- Data points: 75% of buying decisions are made by women
- Tips and strategies: What breweries can do to appeal to women beer drinkers
- How to benchmark your marketing campaigns, and track a return on investment
ResourcesLearn more about Kristen and connect with her
Sign up for the financial newsletter for craft breweries
Beer industry expert Bump Williams joins today with an update on retail beer sales. Bump shares trends in packaging, pricing, brands, styles and market channels.
As a special bonus, Bump gives his Top 3 Brewery Sales Growth Tactics that every brewery owner should consider to achieve sales success in 2022.
Key Topics
- Trends in pricing and promotions
- New product innovation
- Market share tracking tactics
- 2022 Summer selling season outlook
Resources
- Learn more about Bump Williams Consulting
- Sign up to receive The Brewery Financial Training Newsletter
Financial literacy is a super power. It means learning to understand the numbers of your business so that you know how your business is doing financially.
Marketing literacy is a super power. It means learning how to identify your customer and communicate the value your brewery has to offer.
When you combine marketing and finance together...well, you have something special on your hands.
In today's podcast, I talk with Chris Overlay from Hoptimized Digital, a marketing firm for craft breweries. Chris and I talk numbers, finance, marketing, and how to combine these ingredients to help you supercharge your brewery results.
Key Topics
- Beer Pricing (related to margins, market positioning, and ultimately business success)
- Sales forecasting / budgeting / projects (as it relates to the marketing budget)
- Sales Growth KPIs (related to measuring ROI with marketing)
Resources
- Learn more about Hoptimized Digital
- Get the financial training newsletter for the beer industry
How much should you spend on brewery marketing? What is the right amount, and how do you figure this out? Julie Rhodes from Not Your Hobby Marketing Solutions joins the podcast with answers.
Julie specializes in helping breweries optimize retail sales plans, execute digital marketing plans and improve distribution management. And she has lots of great information to share about proven and profitable brewery marketing strategies.
Key Topics
- How to budget your marketing dollars (benchmarks and rules of thumb)
- Profitable brewery marketing tactics
- The brewery marketing plan (starting points to build a good one)
Resources
- Learn more about Julie and Not Your Hobby Marketing Solutions
- Get the Case Equivalent Conversion Calculator
- Check out the brewery financial training newsletter
Today we talk about the research and development tax credit with Brent Williams from Small Batch Standard.
Brent breaks down what the R&D tax credit is, how the calculation works, and how to determine if your brewery business will qualify.
Many breweries don't realize they qualify for this tax credit, and could be leaving money on the table. Listen to the podcast to learn whether your business qualifies.
Key Topics
- How the R&D tax credit works
- How to know if your brewery qualifies
- What types of costs are included to calculate the R&D credit
- How much of a credit may be available for your brewery
- Where to get help to claim your R&D tax credit
Resources
- Learn more about R&D Tax Credits and Small Batch Standard
- Get the financial newsletter for craft breweries
Today we dig into the legal side of contract brewing with attorney Derek Allen from Allen Stahl + Kilbourne.
Derek shares best practices on how to create the brewery service agreement (the document that will govern your contract brewing arrangement) and where to turn for help on navigating the state regulations around contract brewing.
Key Topics
- Contract brewing vs alternating proprietorships
- Reasons to contract brew (that you might not have thought about)
- What you need to get right in your brewing contract
- Pitfalls to avoid in brewery service agreements
Resources
- Learn more about Derek Allen and contract brewing services his firm provides
- Watch Derek's presentation on contract brewing
- Get the financial training newsletter for the craft beer industry
Brewers Association supply chain subcommittee chair Mitch Steele joins us to share tips and best practices on how brewers can navigate today's challenges.
In the podcast Mitch shares his outlook for the next 6-12 months, and strategies to navigate ongoing supply chain issues.
Key Topics
- Mitigation strategies for supply chain challenges
- Best practices for purchase contracts: cans, malt, COs, etc.
- How to build relationships with your key suppliers
Resources
- Learn more about Mitch Steele and New Realm Brewing Company
- Brewers Association supply chain resources
- Get the craft brewery financial training newsletter
In today's podcast we'll review best practices to improve cash flow in your brewery.
You'll learn the cash flow reports to run, metrics to track, and how to focus your time and energy to create a solid cash management plan for your brewery business.
Key Topics
- The main drivers of brewery cash flow (and how to manage them)
- How to build cash flow metrics for each manager in your brewery
- Best practices for your brewery financing plan
Resources
- Get the financial training newsletterfor craft breweries
- Learn more about the craft brewery financial training membership
Today we talk with Tim Near from Agrowgate, a group procurement organization, that helps breweries manage their supply chain and buy better.
Pound for pound, supply chain purchases represent the largest outlay of cash for a brewery. In today's podcast, you'll learn tips and tactics from a supply chain expert to improve purchasing in your beer business.
Key Topics
- The 5 Rights of Purchasing...and why they are important to your brewery
- How to implement a 9 Step Sourcing Model
- Sourcing strategy example using Porters' Five Forces
- Common purchasing pitfalls...and how to avoid them
Resources
- Learn more about Agrowgate
- Get the finance newsletter for brewery professionals
In this podcast we'll talk about best practices for recruiting and hiring for your brewery. Finding the right employees is harder than ever these days, but a few simple tips can make the task easier.
Key Topics
- Use a template for your job descriptions and job postings - get it in writing, and get it in the hands of the job candidate
- Be crystal clear about the priority or goal for the position - how do you define success?
- Set proper expectations for the position
- People exist to make a difference: Use the job description, tell the job candidate how they will make a difference in the brewery
Resources
- Subscribe to the free finance newsletter for craft breweries
- Check out the Brewery Job Descriptions Guide, it's included with your Craft Brewery Financial Training Subscription
If you sell beer through a wholesaler, you have inventory management challenges. In today's podcast we talk with Bud Dunn from GP Analytics and hear about a solution to these challenges called the Craft Portal.
The Craft Portal is a tool that allows you to easily track inventory and orders without losing time, money or your mind. Wholesalers and breweries can quickly track what was sent, what is inbound and what is needed in the future.
The rapid expansion of brands and SKUs in the beer wholesaler's portfolio has made inventory forecasting very complex. The Craft Portal helps simplify the forecasting process so that you can reduce out of stocks, over stocks, and increase sales of your beer brands.
Key Topics
- Inventory forecasting best practices
- How to identify (and quantify) lost sales due to out of stocks
- The high cost of over stock inventory
- Understanding wholesaler incentives related to inventory levels
Resources
- Get the Craft Portal One Pager
- Subscribe to the Finance Newsletter for Craft Breweries
In today's podcast we dive into the wonderful world of beer distribution with Laura Lodge from Customized Craft Beer Programs. Laura has a tremendous amount of experience with beer distribution and in our conversation she shares her knowledge freely.
Key Topics
- Benefits of working with a wholesaler
- Pitfalls to avoid in the brewery-wholesaler relationship
- Distribution contracts: What you need to know
- Key elements to a good brewery-wholesaler partnership
Resources
- Laura's book: Distribution Insight for the Craft Brewer
- Listen to our first podcast: StartABrewery.com with Laura Lodge
- The Finance Newsletter for Craft Breweries
In today's podcast we hear from Bart Watson, chief economist for the Brewers' Association.
Bart is a self-described "stats geek, beer lover, and Certified Cicerone®." And he holds a PhD from the University of California, Berkeley. So, the Beer Data Doctor is in the house.
In our conversation we dig into the 2021 beer data and get Bart's key takeaways, trends, and outlook for the coming year. We also talk about "craft's leaky bucket" and how brewers can use this concept to maintain or grow market share.
Key Topics
- 2021 beer trends and outlook for 2022
- Bart's key takeaways from the 2021 data
- The state of big seltzer (and craft seltzer)
- On-premise outlook
Resources
- Bart's articles on benchmarking data, survey results, and packaging trends
- The Finance Newsletter for Craft Breweries
In today's podcast we talk contract brewing with Brewmaster Mitch Steele from New Realm Brewing. Mitch shares what the contract brewing process looks like, the contract terms you need to know, and how to structure pricing.
Key Topics
- Contract brewing tracking data
- How to structure contract brewing pricing
- The key steps in the contract brewing process
- Lessons learned, mistakes to avoid, in contract brewing
Resources
- Learn more about New Realm Brewing Company
- Contact Mitch for info on their contract brewing services: msteele@newrealmbrewing.com
- Subscribe to the Finance Newsletters for Craft Breweries
In today's podcast you'll hear the audio version of the Taproom Success monthly Q&A.
In this session, Andrew Coplon and I discuss a wide range of topics, including best practices and lessons learned from taproom owners and managers.
Key Topics Covered
- 2022 beer industry look ahead: packaging trends, seltzer outlook, on-premise business, and overall beer consumption rates.
- Focus on taproom key metrics: 2022 Most important measurements.
- Financing update: Market trends to share for taproom owners looking to expand or purchase equipment.
- Taproom staffing issues? Tips to help, and best practices from Lady Justice Brewing about looking outside the box for candidates
Resources
- Learn more about the Taproom Success Membership
- Sign up for the free Craft Brewery Financial Newsletter
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 US
- Packaging trends, and the outlook for cans, bottles and draft
- Forecast for on-premise business
- Past, present and future of seltzers
Lester 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 Free to the weekly Craft Brewery Financial Newsletter
Today we talk brewery financing and get an update on the state of the lending industry with Jason Sleeman, VP of Craft Beverage Lending for United Community Bank.
Jason shares his perspective on the current state of the market, financial relief packages, and the inner workings of how the loan process works.
Key Topics
- Banking behind the scenes: What you really need in order to get a loan
- Loan processing times: 45 days to 14 months...tips to get approved faster
- How to build your team of brewery professionals (insurance, legal, accounting, banking)
- An update on mergers in craft beer
- Jason's favorite sources for beer news and information
Resources
- Podcast: Expansion Financing
- Learn more about United Community Bank
Sign Up for the FREE and World Famous Craft Brewery Financial Training Newsletter
In today's podcast you'll hear the audio version of the Taproom Success Membership monthly Q&A call.
In this discussion, Andrew Coplon and I talk about a wide variety of topics ranging from contingency planning for taprooms to how to build relationships among your front/back of house taproom staff.
Key Topics
- How to reward and motivate your taproom employees
- Team building tactics to help drive more revenue through your taproom
- How to use accountability and a proven system to build your financial plan
Resources
- Craft Brewery Professionals Live Event: Feb 2022
- Learn more about the Taproom Success Membership
Sign Up for the World Famous (and FREE) Craft Brewery Financial Training Newsletter
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 Topics
- Business Plan Goals...Start with your Core Values (what do you stand for?)
- Financial Plan Goals
- SWOT Analysis
- Process vs. Outcome Goals
- The 3 Step Secret Weapon for 2022 (Eliminate, Automate, Delegate)
Resources
- Learn more about the book Re-Work by Jason Fried from Basecamp
- Tim Ferriss on a technique to become more productive in 2022
- Learn more about the Craft Brewery Business Plan course
Sign up for the FREE and World Famous Craft Brewery Financial Training 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 Topics
- How wholesalers can use financial skills to navigate challenges in the market
- The BREW Initiative: Building Relationships and Empowering Women
- Industry consolidation: Key factors behind wholesaler acquisitions
Resources
- Learn more about the BREW Initiative
- NBWA Membership Benefits
- Nex Gen Leadership Conference
Sign Up for the World Famous (and FREE) Beer Business Finance Newsletter
Preston Andreini is a firefighter, first responder and now he's opening up his own brewery: Red Engine Brewing.
And if that's not enough, he's started his own podcast to share lessons learned with others who may want to start their own brewery.
In this podcast, Preston and I walk through the details of creating a startup brewery financial plan. Preston talks through the obstacles he faced while creating his plan, and shares how he overcame these challenges.
Key Topics
- Using "Knowns and Assumptions" when starting your plan
- The simple magic of the "Sources and Uses" schedule
- A tactical approach to build up your sales, margin, and operating expenses
Resources
- Learn more about Red Engine Brewing
- Check out Preston's podcast: Built and Brewed
Sign Up for the Free and World Famous Craft Brewery Financial Training Newsletter
What if there was a place where you could learn everything about starting a new brewery? And what if that place was online, accessible to anyone, and totally free?
No need to think about the 'what ifs' because Laura Lodge and attorney Candace Moon have built such a place, and they call it StartABrewery.com.
In today's podcast you'll hear from Laura Lodge about why she co-founded StartABrewery.com, who the site is for, and what resources you'll find there.
Key Topics Covered
- Tips on where to begin: Starting points for starting a brewery
- The four stages of StartABrewery.com: Plan, Act, Open, Grow
- Fundamental principles for your distribution contracts and relationships
Resources
- Learn more about StartABrewery.com
- Check out Laura's book Distribution Insight for the Craft Brewer
- Need a REAL business plan for your brewery? Check out the Brewery Business Plan course
Sign Up for the FREE and World Famous Craft Brewery Financial Training Newsletter
In today's podcast we hear from Josh Lance, founder of Lance CPA Group. Josh's firm specializes in breweries, with a focus on bookkeeping services, tax planning and preparation, and small business advisory services.
Josh and I talk about a number of issues facing brewery operators these days: year end planning strategies, cash management tools, and how to make sure you're in compliance with all the rules surrounding PPP, ERTC, RRF and other stimulus packages.
Key Topics
- Most common financial questions brewery owners are asking these days
- Key considerations when buying new brewery assets (calculate the return on investment, estimate additional costs associated with getting the asset into service)
- Brewery cash management tools: Fathom, Float and Helm
- First steps to build a brewery cash forecast
Resources
- Learn more about Lance CPAs
- Podcast: The Ultimate Brewery Software Stack
- Check out the online course How to Build a Brewery Profit Plan
Sign Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In today's podcast we talk about legal year end planning tactics with attorney John Szymankiewicz from the Beer Law Center. The Beer Law Center provides legal solutions to the craft beverage industry, and John provides tips that brewers need to know right now.
Key Topics
- Best practices, tips and checklists for legal planning
- How John is guiding his brewery clients with year end planning
- What you need to know about: Contract reviews, lease reviews, and trademarks
- Watch out for these legal areas that are overlooked (and what usually goes wrong)
Resources
- Learn more about the Beer Law Center
- Learn more about John's book Beer Law: What Brewer's Need to Know
- Check out the Brewery Business Plan course
Sign up for the FREE and World Famous Craft Brewery Financial Training Newsletter
Today we review year end planning tips and strategies with Chris Farmand, founder and CEO of Small Batch Standard.
We cover the most common questions, concerns and obstacles that brewery owners are facing these days, and provide resources to help solve these challenges.
Topics Covered
- Planning tactics for PPP, ERC, and EIDL
- Benchmarking tools for breweries
- Accounting technology: Chris' favorite software stack for breweries
- Rules of thumb for when you need a brewery software tool
- Top benefits of working with a brewery-specialized CPA firm
Resources
- Learn more about Small Batch Standard
- Check out the Brewery Business Plan Course
Sign Up for the World Famous and FREE Craft Brewery Financial Training Newsletter
In today's podcast we hear from Jon Reynolds from BrewPlan, LLC and dig in to all the details of an ABP (annual business plan). We talk about what an ABP is, why it's important, why you need it, and how it works.
In a nutshell, the ABP is a brewery-wholesaler planning process that sets the game plan for getting your beer to market. If you work with a wholesaler you need to understand the ABP to position your brewery for success.
Key TopicsMost useful tool in your ABP: The brand calendar
How to create your annual spend plan to support your brands
Tips to build your marketing plan and rules of thumb for how much to budget
Resources
Learn more about BrewPlan, LLC
Podcast: How to Use Brewery Data to Uncover Opportunities in the Market
Sign Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In this episode you'll hear the audio version of our webinar to introduce the Taproom Success Membership.
This new membership opportunity connects you with a community of experts and taproom owners/managers to help you achieve success in your taproom.
The Taproom Success Membership gives you the tools, resources, and support you need to manage and grow your taproom business.
From fundamentals, to best practices, backed by data, and actionable strategies, the Taproom Success Membership fills the void of taproom educational opportunities.
Resources
- Learn more about the Taproom Success Membership
- Register to Watch the Webinar Replay
Today we'll talk about one of my favorite topics: Open Book Management (OBM).
OBM is a system to share financial information with everyone in the brewery. It's about open, honest and transparent communication. And it's a great way to engage and empower employees.
Topics Covered
- What open book is...and What it isn't...
- Why you might consider OBM
- How to evaluate if it's right for your business
- Steps to put OBM into practice
- My 3 Favorite OBM books...
Resources
- Brewery Open Book Management Course
- Sign Up for the FREE and World Famous Craft Brewery Financial Training Newsletter
Brew Movers was recently featured in Forbes under the heading: The secret weapon for breweries? A shipping company called Brew Movers. A cool title and a very interesting read. Brew Movers is a farm to glass shipping and logistics company for the beer industry. They specialize in beer shipping and understand the unique challenges facing craft breweries.
In this podcast we'll hear how Brew Movers can help you manage logistics to improve on shipping costs to save time and money in your business.
Key Topics
- Primer on how freight and logistics actually work
- Value added services to look for with your freight carrier
- The main drivers of freight costs (and how to use this info to save money)
Resources
- Learn more about Brew Movers
- Forbes article featuring Brew Movers
Sign up for the Free and World Famous Craft Brewery Financial Training Newsletter
Craft Peak is a technology company that builds websites and e-commerce solutions for some of the world's leading craft beer brands.
In this episode we hear from CEO and Founder, John Kelley. He describes Craft Peak as a hybrid of a web agency and a technology company. But mostly, he loves developing cool tools for breweries.
Main Topics
- Key metrics: What to measure when talking websites
- How to use memberships to drive sales
- Online beer sales, platform they offer, how it all works
Resources
- Learn more about Craft Peak
- Sign Up for the Free and World Famous Craft Brewery Financial Training Newsletter
A lot of businesses fail because they run out of cash. In this podcast you’ll get a crash course in brewery cash flow planning to help your brewery survive and thrive in tough times.
Key topics covered in the podcast:
- The 10 Laws of business...
- Cash flow basics: Accrual vs cash accounting
- How to identify and monitor the key drivers of brewery cash flow
- Simple cash flow templates you can use in your business
Listen to the podcast and learn how to build a cash flow plan for your brewery business.
Sign-Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In this podcast you’ll get a crash course in brewery debt financing so that you can create a solid funding plan for your business.
We’ll cover loan terms, types and typical brewery financing structures. We’ll review how your lender will evaluate your brewery business so that you can prepare and put yourself in the best position to get the funding you need.
Key topics covered in the podcast:
- How to build a financing plan for your brewery so that you have access to capital when you need it
- Examples of typical brewery financing structures - equipment line of credit, working capital line of credit and term loans
- Basics of loan covenants - what you need to know about the debt service ratio and debt to equity ratio
Listen to the podcast and learn how to build a debt financing plan for your brewery business.
Sign-Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In this podcast you’ll get a crash course in brewery financial forecasting so that you can create an action-oriented plan to help you improve financial results in your business.
Key topics covered in the podcast:
- How to create a brewery financial pro forma
- Financial planning basics - first steps to get the plan on paper
- Key considerations in building your financial plan
Listen to the podcast and learn how to use brewery financial projections to drive profitable growth in your business.
Sign-Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In this podcast you’ll get a crash course in brewery finances. A good working knowledge of brewery finances will allow you to track, measure and monitor financial performance of your business.
At Craft Brewery Financial Training.com we believe in the sanctity of the beer, and the sanctity of the numbers. In this podcast, we’ll help you with the numbers!
Key topics covered in the podcast:
- What brewery financial statements should look like
- Brewery chart of accounts best practices
- Key financial metrics for breweries
Listen to the podcast and learn how to use brewery financial knowledge to drive profitable growth in your business.
Sign-Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In this podcast we dig in on Brewery Taproom Metrics. We’ll review four key taproom scorecards that you can use to measure, monitor and improve results in your brewery.
Four specific taproom scorecards we cover:
- Sales focused (to grow revenue)
- Operational metrics (to improve non-financial performance)
- Financial metrics (to watch your financial results)
- One Thing Scorecard (to focus on the one most important thing)
Key topics covered in the podcast:
- How to create four different scorecards for you taproom
- How to measure with a purpose so that you get the results you want
- Steps to Identify and measure the most important things for your business
Listen to the podcast and learn how to build taproom scorecards to drive profitable growth in your business.
Sign-Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In today’s podcast we hear from Kyle Rheiner from Arthur Hall Insurance. Kyle leads the Food and Beverage Division and specializes in insurance needs for craft breweries.
Key Topics Covered in the Podcast:
- One simple tip that can save you thousands of dollars on your premiums
- Workers compensation insurance: How it works, and how to reduce costs
- How things have changed since the pandemic: specific insurance needs for breweries in this new, post-pandemic world
- Bonus topic: Kyle’s favorite books about the beer industry
Resources
- Listen to Kye’s podcast: Beer Mighty Things
- Learn more about Arthur Hall insurance
Sign-up for the Free and World Famous Craft Brewery Financial Training Newsletter
In this podcast we talk about brewery financial literacy - the ability to read and understand the numbers of your business so that you can monitor and improve results.
Key Topics Covered
- Financial Building Blocks: Chart of Accounts, General Ledger
- Brewery Financial Reports: Overview and Examples
- Financial Routines and Month end Process checklists
- Building and training your team: Out-Sourcing Options
Listen to the podcast and learn how to use brewery financials to drive profitable growth in your business.
Sign-Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In this podcast we hear from Joe Isaacs from National Resource Management. Joe shares his insights on energy reducing programs that may be available for your brewery.
I’ve worked with NRM on several energy saving projects in the past and have found their team to be professional and profitable for our business. I encourage you to reach out to NRM so that you can “Go Green” and “Save Green”.
Key Topics Covered in the Podcast:
- Drivers of energy costs: Usage, rates, fees (and how it all works)
- Energy programs that are available for your beer business
- Checklist that you can use to identify cost savings programs
- Resources to stay on top of new energy programs as they become available
Resources
- Use this tool to benchmark your building using Energy Star
- Read the case study of how NRM was able to help Aeronaut Brewing
Listen to the podcast and learn how to use brewery financials to drive profitable growth in your business.
Sign-Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In this podcast we hear from Ross Ackerman from GP Analytics. Ross shares his insights on forecasting beer sales, reacting to change, and creating a common language between wholesalers and breweries to drive sales.
Key Topics Covered in the Podcast:
- Tips for forecasting sales this summer selling season
- Raw material shortages (cans, cardboard, etc)
- The return of on-premise and how to prepare your brewery production
Resources
- Learn more about GP Analytics
- Learn more about the Craft Portal
Listen to the podcast and learn how to build a more accurate production forecast to drive profitable growth in your business.
Sign-Up for the Free and World Famous Craft Brewery Financial Training Newsletter
In today's podcast you'll hear the audio from a recent webinar introducing the new Taproom Success Membership which officially launches on August 1st.
The Taproom Success Membership connects you with a community of experts and taproom owners/managers to help you achieve success in your taproom.
Key Topics
- 5 Taproom Business Myths
- Our Proven Process for Taproom Success
- One Thing you can do right now to improve taproom results
- Claim your 50% savings on the membership! Use coupon code EARLYBIRD at checkout. Offer ends June 30th.
Resources
- Learn more about the Taproom Success Membership
In this podcast, you’ll hear the audio of our webinar on beer distribution strategies for craft breweries. We’ll cover the financial and operational considerations to get your beer to market during this uncertain time.
Key Topics
- How to build successful relationships with your beer distributors to grow sales
- Resources to analyze self-distribution options
- Beer Pricing and margin tools and models
Resources
- Get the course deck and spreadsheet tools
- Learn more about the 2021 Brewery Financial Training Program
- Questions? Kary@BeerBusinessFinance.com
Sign up for the World Famous (and Free) Craft Brewery Financial Training 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, 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 tool
Sign-Up for the Free and World-Famous Craft Brewery Financial Training Newsletter
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 study for your brewery (and why you need one)
- Checklist to document brewery operations
Resources
- Contact Joe at B-W Design Group: joseph.trombley@bwdesigngroup.com or reach him by cell at 603-244-9778
Sign-up for the Free and World-Famous Craft Brewery Financial Training Newsletter
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, 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:
- Cash Flow Management Best Practices
- Drivers of brewery cash flow
- Scorecards to track and measure key cash flow metrics
- 3-step system to improve brewery cash flow
Learn more about the Brewery Financial Training Program!
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 exam. Watch a short video to learn more.
Key topics covered:
- Financial Planning Best Practices
- Sales and Margin Plan
- Operating Expense Plan
- Capital Expense Plan
- Loan Schedules and Debt Planning
- Tactics to Train Department Managers
Learn more about the Brewery Financial Training Program!
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 Program: Watch the 2-minute video Use Coupon Code MBAA100 at checkout to SAVE $100 off the Program Tuition. Offer good through April 30th.
Sign Up for the Free and World Famous Craft Brewery Financial Training Newsletter
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 final exam. Watch a short video to learn more.
Key topics covered:
- Module #3: Common Problems in the Financials
- Keg Inventory & Product Inventory
- Accounts Receivable Collections & Product Margin Variances
- Module #4: Beer Costing & Pricing
- Beer Costing Fundamentals
- Beer Pricing (and Portfolio Margins)
Don't forget to signup for the World Famous and Free Craft Brewery Financial Training Newsletter
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 Chart of Accounts & General Ledger
- How to create brewery Financial Statements & Reports
- Routines and Month-end financial process to ensure your brewery numbers are complete and accurate
Learn more about the Brewery Financial Training Program!
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 staff to sell more beer (Andrew shares examples and ideas that you can implement)
Quick sales growth tips:
- Single use paper menus (data shows a 35% lift in sales when you use them)
- Ask customers if they want to go beer - the Upsell (data shows 49% buy when you ask, but only 9% buy when you don't)
Resources:Ten Strategies to maximize your customers' experience and revenue in the new normal
5 Tips to create a better merchandise display
Sign Up for the Free and World Famous Craft Brewery Financial Training Newsletter!
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 system, but Audra and I agree that these are the keys to success...
3 Keys to OBM Success
- Financial literacy training
- Bonus program
- Financial reporting and forecasting
Resources
- Get in touch with Audra - Accounting, Finance, Operations Strategy For The Beer Industry. Helping You Understand The Numbers Behind The Beer.
- Check out the Brewery Open Book Management Online Course
Sign Up for the Free and World-Famous Craft Brewery Financial Training Newsletter
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 models. Tools that can be quick and easy to update during these uncertain times.
Resources
Learn more about Lance CPA Group (and the ERTC)
Read the Lance CPA Group blog on the ERTC
Sign up for the World Famous (and Free!) Craft Brewery Financial Training Newsletter
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?
And Josh walks through the key questions to ask when considering an outsourced accounting option - from onboarding through implementation.
ResourcesLearn more about Lance CPA Group (and Josh's obsession with the tv show Full House)
Get the Free PDF: Strategy. Structure. Compliance. Benchmarking.
Sign up for the World Famous (and Free!) Craft Brewery Financial Training Newsletter
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 breweries can do to make sure their brands get attention and focus to grow sales.
ResourcesContact Dan Lust at Pints, LLC
Sign up for the World Famous (and Free!) Craft Brewery Financial Training Newsletter
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. The checklist pulls it all together in one place to help you have a profitable brand launch.
Time is money. You can't afford to make mistakes or have delays during a product launch. Listen to the podcast and use Jim's checklist to keep your team on task and on deadline.
ResourcesGet the Brewery Product Launch Checklist
Contact Jim Gunther at Gunther Creative Agency
Sign Up for the Free Craft Brewery Financial Training Newsletter
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 vs 2.5x of monthly payroll, for example.
- What about new breweries that just opened up as the pandemic was starting...will they qualify for relief?
You've got questions, Jason has answers.
Key Topics:
- PPP Round 2...Q&A with the lender
- How to raise funds for a start-up brewery
- Expansion financing overview...how to fund the new canning line
Resources:
- Contact Jason Sleeman at United Community Bank
- email: Jason_Sleeman@ucbi.com
- phone: 404-375-3945
- Coronavirus Resource Center from McLane Middleton
Don't forget to sign up for the Free Craft Brewery Financial Training Newsletter
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 Financial Planning in a Pandemic. (To watch the full webinar click the link in the Resources below.)
ResourcesWatch the Webinar Replay: Brewery Financial Planning in a Pandemic
Sign up for the FREE World Famous Craft Brewery Financial Training Newsletter
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, fairness opinions, mergers and acquisitions (M&A), estate planning, capital structuring and more for clients across the country.
Topics covered:
- Top reasons a craft brewery would choose an ESOP
- Brewery Valuations
- Mergers and Acquisitions (M&A) in the craft beer space
Resources
- Contact info for Rocky Fiore
- Learn more about ESOPs
Sign up for the World Famous Craft Brewery Financial Training Newsletter
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.com
- Phone: 617-697-7248
Sign up for the World Famous (and Free) Craft Brewery Financial Training Newsletter
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 chain issues, and Matt's view on how long before supply catches up with demand
Resources
Learn more about the Independent Brewer's Alliance (IBA)
Frequently asked questions about IBA
Sign up for the World Famous Craft Brewery Financial Training Newsletter
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
- Economics of shifting from draft products (generally high margin) to package products (generally lower margin)
- Financial year-end planning tips and tactics
- Maria's book - Small Brewery Finance
ResourcesLearn more about Perkins & Co: Food and Beverage services
Contact information for Maria Pearman, CPA
Check out Maria's book - Small Brewery Finance
Sign up for the World Famous (and Free!) Craft Brewery Financial Training Newsletter.
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 relationships
- The age of effervescence - is seltzer here to stay?
- The latest on beer wholesaler consolidation
- Predictions on the future of the 3-tier system
- Beer business lessons learned during the pandemic
Resources
Learn more about Beer Business Daily
Learn more about the Beer Industry Summit
Sign up for the World Famous Craft Brewery Financial Training Newsletter!
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 Covenants + Calculations
- Debt Service, Leverage…add these to your financial reporting
- Loan schedule spreadsheet
- Map out what you owe, monthly obligations
ResourcesGet unlimited access to financial training courses, guides and resources with the Free 60-Day Trial to the Craft Brewery Financial Training Membership
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, Sources/Uses
- Cash Flow in Growth Stage
- Growth consumes cash, Opex and Capex planning
- Five Drivers of Brewery Cash Flow: How to Manage
- Beyond the P&L, key balance sheet accounts to monitor
ResourcesSign up for the Free 60-Day Trial to the Craft Brewery Financial Training Membership
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 Up for the Free 60-Day Trial to the Craft Brewery Financial Training Membership
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 covered in the podcast:
- Brewery Financial Reports
- How to use each statement and create real-time reporting
- Chart of Accounts / Structure
- How to set up your brewery accounts - Use this Template
- Good Process = Good Information
- Reconciliations and proper routines
- Building and training your team / Out-sourcing options
- DIY, out-source, or a combo
ResourcesSign Up for the Free 60-Day Trial to the Craft Brewery Financial Training Membershipand get access to the online course: Brewery Financial Training 101
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 consider to determine if OBM is right for your brewery. And we review three books which are required reading if you want to implement OBM in your business.
Resources + ToolsLearn more about the Online Course: Open Book Management for Craft Breweries
Sign up for the World Famous and Free Craft Brewery Financial Training Newsletter
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 Payable and Capital Expenditures.
I've taken this concept and modified it to be useful for craft breweries. Check out the Ultimate Guide to Cash Flow for more details.
80/20 Rule: The Secret to Achieving More with Less, by Richard Koch
You've probably heard of the 80/20 rule, otherwise known as the Pareto Principle. Essentially, it states that 20% of efforts create 80% of results. So, there's 20% of what you do that makes 80% of the difference. The challenge is trying to figure out what the 20% is so that you can do more of these things, and spend more time on efforts that really make a difference.
In the beer business you can use 80/20 to identify your most profitable customers and products (brands/SKUs). Run the analysis and you'll see that 80% of sales comes from 20% of your customers. And 80% of sales come from 20% of your brands. Then use this insight to improve financial results in your brewery.
Financing the Small Business, by Robert SissonEvery brewery should have a financing strategy. A game plan so that you have access to capital when you need it. In good times, and in tough times, a good financing strategy will keep your brewery on solid financial footing.
The book covers how to approach banks, how to create loan proposals, how banks make lending decisions, and more.
Don't forget to Sign Up for the World Famous (and Free) Craft Brewery Financial Training Newsletter.
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 discuss day to day insurance considerations for breweries. For example, certificates of insurance, hold harmless agreements and how to use a safety program to help reduce workers' compensation premiums.
ResourcesContact Steve Quish from Cross Insurance: squish@crossagency.com
Learn more about Cross Insurance
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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 and profitable for craft brewery owners and managers: How to use data to uncover opportunities in the market. How to strengthen wholesaler relationships. How innovation is the key to the future of craft brewery sales growth.
Jon's #1 tip on wholesaler relationships: You earn it when you make sales calls in their market. You'll get their support right away.
Resources:Contact information for Jon Reynolds from BrewPlan
University of Vermont Business of Craft BeerJon's Favorite Industry Newsletters: Brewbound, Craft Brewing Business, Shanken News Daily
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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, and operating a craft brewery
Contact information for attorney John Moran
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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 can be used to determine how much revenue can be generated with each barrel of beer. A common metric is Revenue per BBL. This spreadsheet helps you break down and estimate the different ways you can sell the beer - 16oz drafts, 12oz drafts, 10oz drafts, flights, growlers, etc.
ResourcesBeer Case Equivalent Calculator
Taproom Sales Calculator
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Today, we hear from Attorney John Szymankiewicz from the Beer Law Center in Raleigh, NC. John's last name belongs in the finals of a spelling bee, so we'll just refer to him as John S.
In our discussion, John discusses the legal concept of force majeure and what brewery owners should know about this contract clause which is included in most supplier and wholesaler agreements. How is force majeure being used during the pandemic? What are options for breweries? John S. has the answers.
John has written book on beer law which is a helpful resource for brewery owners. He covers topics ranging from federal licensing to labeling to buying and selling your business.
Resources
Contact John S. through the Beer Law Center
Check out the Beer Law Blog on important topics for Breweries
Shop for John's book, Beer Law: What Brewer's Need to Know
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Jim Keenan is an intellectual property guru who helps breweries protect their most valuable business assets: their brands. John Moran specializes in federal and state licensing and compliance and is the author of an essential resource for breweries: The Brew Kit.
In today's podcast, we hear from these two attorneys who specialize in issues that are critically important to craft brewery owners and managers.
Jim walks us through the process of how and when to file for a trademark. John takes us through the Brew Kit - the checklists, deadlines and summary of key considerations for starting, running and owning a craft brewery.
Resources
Brew Kit for Massachusetts
Brew Kit for Maine
Brew Kit for New Hampshire
Bio, contact info and details for Jim Keenan and John Moran
Music Licensing Kit: What you need to know
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In today's podcast we talk with attorney Trevor Brewer from BrewerLong Business Law. We cover a number of topics in Trevor's areas of practice: alcohol beverage regulation, beverage licensing, and distribution agreements.
Trevor provides his guidance on executive orders and how brewery's can stay in compliance. We talk about the future of state alcohol regulation (e-commerce, curbside, home delivery) and whether the rules that have been relaxed during the pandemic will go back to the way they were prior to the crisis.
More Resources:Contact information for Trevor Brewer
Beverage law information and resources
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In today's podcast, I sit down with Randall Behrens from Live Oak Bank. Live Oak is the largest SBA lender in the country, covering all 50 states with 650 employees. They also have a have a craft beverage team that understands the beer business.
Randall gives his 'state of the beer industry' from a banking and lending perspective. He also provides tips and must-do's for brewery owners right now.
More ResourcesLive Oak Bank COVID-19 Resources
Contact information to connect with Randall Behrens. Phone: 707-921-1099, email: randall.behrens@liveoak.bank
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In today's podcast, I talk with Kyle Smith from Gorman Smith Beverage Equipment company. In our conversation we cover a variety of subjects from brewery equipment sourcing to using Gap Analysis to model your brewery business.
There's no better time than right now to focus on business fundamentals to improve and strengthen your brewery operations. Kyle shares his thoughts on how to re-build your business plan and use simple tools to perform a Gap Analysis.
Links to More ResourcesLearn more about Gorman Smith Beverage Equipment
Tom Wujec and Systems Thinking
Blog post on Gap Analysis, SWOT Analysis, and more tools
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This sounds like an outrageous title for today's podcast: How to Increase To-Go Beer Sales 500% by Asking One Question. But Andrew Coplon from Secret Hopper has the answer. And the One Question.
In the podcast Andrew also shares that taprooms who provide paper menus to customers get a 35% increase in sales. Paper menus can increase customer sales by 35%? Really?
Really.
In our discussion, Andrew provides even more tips on how to grow online sales during these days of curbside pickup. The guidance here is simple, powerful and profitable. Three of my favorite words.
Check out the episode and increase your taproom sales today!
Additional Resources:
Ten Strategies to maximize your customers' experience and revenue in the new normal
5 Tips to create a better merchandise display
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In this episode, I talk with retail beer sales expert Bump Williams. Bump is very connected in the beer industry - he knows everyone, and everyone knows him. He combines the knowledge he gains from his beer network with retail sales data to provide useful insights that brewery owners can use to grow sales, especially during this pandemic.
We talk about a wide range of topics: What's going on at retail - sales trends, pack sizes and pricing. Best practices for beer recalls due to out of code...and tips for how craft breweries can compete with bigger breweries...even if smaller crafts can't produce larger package sizes to keep up with the big breweries.
Learn more about Bump Williams Consulting
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What is one lesson all breweries should learn from this crisis? Always have a financial contingency plan.
In today's podcast, I talk to Audra Gaiziunas from Brewed for Her Ledger, LLC. We cover how to build a financial contingency plan, the importance of cash reserves, working capital lines of credit, and investor sources of capital.
Other topics covered in the episode: The new beer margins and the need to right-size operating expenses. The most important (and most misunderstood) financial statement. The new super power breweries must learn: Diversification.
Links to more resourcesWebinar - Forecasting Cash Flow Needs During Times of Turbulence
Webinar - Best Practices for Cash Flow Management
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In these financially troubled times, the accountant has become an unsung hero. Brewery owners and managers are looking for someone who 'has their back' financially. They need a specialist to guide them, to help with cash flow planning, financial forecasts and navigating the documentation needed for SBA loans and insurance claims. These are complicated times, and now more than ever, the accountant can help simplify things.
Enter Chris Farmand, from Small Batch Standard. Small Batch Standard is a craft brewery consulting, accounting and financial strategy company. In this podcast, Chris shares his perspective on the current state of the industry, and financial advice for breweries when they need it most - right now.
Resources mentioned in the podcast:
- Cash Flow planning webinar replay
- The package store opportunity webinar replay
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In today's episode, we talk to Julie Rhodes from Not your hobby marketing. Julie is a beer industry sales and marketing expert. She has over 20,000 hours of experience in brand management, wholesaler management, and using data-driven results to help breweries grow sales.
Topics covered in this episode:
- How to use brewery sales and marketing fundamentals to navigate the Covid-19 crisis
- Essential skills needed most today: Agility, innovation, and flexibility
- Tactics and lessons learned for remote beer sales
- Tips to build strong relationships with wholesalers and retailers
- Best practices for wholesaler APB meetings
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In this episode I talk with Justin Kendall from Brewbound, a leading resource for the beer industry. We discuss how the pandemic has exposed a major flaw in the taproom-only model, and how breweries are responding. We explore topics ranging from brewery 'survival mode' to future diversification strategies for breweries. And, as Justin says,"Just keep fighting."
In this episode I talk to Jeff Saari from Workplace Culture Solutions about how brewery owners can manage their mindset during this crisis. We explore the challenges and benefits of remote working, how to stay connected and engaged with co-workers, and how to use this time productively to build new skills so that we emerge from this crisis stronger than ever.
Links to resources we talk about in the podcast -
- Lean more about Jeff Saari and his teaching - https://workplaceculturesolutions.com/tools
- Strengthsfinder 2.0 to uncover your talents and build your strengths (and those of your brewery co-workers as well)
- Traction book to run Level 10 meetings
Now, more than ever, cash flow planning is a financial survival skill. In this episode we review a 3-step process you can use right now to keep more cash in your brewery. I also share the model that I use to keep a close eye on cash to monitor money moving in and out of our brewery business.
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Get the Cash Flow models in this blog post.
In today’s podcast we present Best Practices to manage your empty keg inventory. It’s 8am, do you know where your kegs are? Unless you have a good system in place to […]
The post Podcast: CBF 003 Best Practices for Managing Kegs appeared first on Craft Brewery Finance.
In today’s podcast we’ll review the nitty gritty details of borrowing money to start up or expand your brewery. The decision to expand your brewery is a big one. You’ve […]
The post Podcast: CBF 002 Brewery Financing Basics appeared first on Craft Brewery Finance.