Craft Brewery Financial Training Podcast

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 PointsHow to properly price menu items for profitTactics to stay laser focused on margins every single dayThe power of the "Controllable P&L" - a real-time look at taproom profitabilityFeatures and benefits of MarginEdge: Automated invoice processing, real-time food and beverage cost tracking, menu item analysis, and much moreResourcesConnect with Andre from MarginEdge, andre@marginedge.comWatch the video replay of this free workshopSign 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.

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 PointsHow to use the $1 beer to get a 17x return on investmentFlash rewards: How to use push notifications to instantly reward customers and get them coming back more oftenWant 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 processHow to create sticky, trackable, and profitable marketing campaignsResourcesConnect with Ross to learn more about Tapwyse: Ross@tapwyse.com, or by cell, 760-209-6048Get the FREE financial training newsletter for breweriesReady 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 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. SummaryInsurance 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 breweryBiggest brewery insurance mistakes...and how to avoid themResourcesConnect with Chris on LinkedIn, by phone 615-496-6070, or email chris@wanderlinger.comSign up for the FREE brewery financial training newsletterReady 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.

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-renewalsVisit merchantcostconsulting.com to learn more or request a free statement analysis to see potential savings.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.

Today on the podcast we hear from Michael Ly, CEO of Reconciled accounting services. Michael and I talk about why bookkeeping is so important to your brewery business and how to evaluate outsourcing this key function.Key PointsPricing and process for outsourced bookkeepingCommon pitfalls with brewery bookkeepingSoftware tools to keep the financials running smoothlyFinancial standard operating proceduresResourcesLearn more about outsourcing your brewery bookkeeping with ReconciledGet the FREE brewery financial training newsletterReady 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 you'll hear the audio version of our brewery financial round table meeting. Our financial round table is a place to ask questions, get answers, share ideas and best practices.In this episode, we explore tactics, tips and strategies to increase customer traffic, grow average check size, and encourage repeat visitors.Key Points5 specific action steps taproom staff can take to increase profits (with special Guest Star Andrew Coplon from Secret Hopper)5 things you could be doing to grow the bottom line (but probably aren't)Taproom key metrics scorecards and best practices to transform financial resultsResourcesJoin the network of brewery owners and managers focused on improving financial resultsGet the FREE brewery financial training newsletterReady 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.

Jon Reynolds from Brew Plan joins us today to talk strategic planning and keys to marketing success for breweries. At Brew Plan, Jon works with brewery owners on pricing strategy, market analysis, concept development, and sales forecasting.SummaryBiggest brewery marketing mistakes...and how to avoid themCustomer buying trends and how breweries can position their brands for successSpecific marketing tactics that really move the needle for small/mid-size breweriesResourcesConnect with Jon Reynolds, brewplanmarketing@gmail.comGet the free brewery financial training newsletterReady 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 you'll hear the audio version of our brewery financial round table meeting. This month we focus on how to how to analyze your financial statements to unlock profitable opportunities.  In our monthly workshops, brewery owners and managers share ideas and best practices to improve profits and cash flows. To join our membership or learn more, visit the Beer Business Finance Association. SummaryHow to use financial trend analysis to spot problems with gross marginsSimple break-even analysis toolsTactics to present the income statement on a "per barrel" basisResourcesGet the free brewery financial training newsletterLearn more about our network of brewery owners and managersReady 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 we reveal the Secret Formula to Create a Successful Brewery with Jake Lohse, founder of Presidential Brewing Company. Jake is the author of the book Shifting Gears, and founder of the Legendary Success Academy. SummaryThe 4 key factors to a successful breweryCreative funding for a start-up breweryStrategies to bring guests back to your taproom again and againResourcesConnect with Jake, jake.lohse@presidentialbrewing.comListen to the first podcast with Jake: Ultimate Road Map to Create Your Legendary BreweryGrab the FREE brewery financial newsletterReady 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.

For the first time, in a long time, more breweries are closing than opening. One of the success factors for breweries that survive and thrive vs. those who do not, is a feasibility study. Jon Reynolds from Brew Plan Marketing specializes in feasibility studies, market research, and data gathering. In today's podcast, Jon shares trends, growth areas, and the details of how to build a feasibility study for brewery success.  Summary What a feasibility study is and why it's important7 benefits of market analysisResource run-down of brewery data to make informed decisionsResourcesConnect with Jon Reynolds from BrewPlan Marketing, brewplanmarketing@gmail.comGrab the FREE brewery financial planning newsletterReady 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.