Craft Brewery Financial Training Podcast

Michael Varda, Craft Beer Advisory Services, shares early insights on 2023 taproom trends. The #1 factor in negative taproom experiences is food. 1 in 3 negative experiences are related to first impressions. Pricing matters with 1 in 4 negative experiences mentioning price. Tips on strategic pricing discussed.

Today on the podcast we hear from Brynn Keenan from Grist Analytics.  Brynn and I talk all about brewery data and key metrics to track to ensure cost effectiveness in production. Key TopicsCase studies of how Ninkasi and New Belgium cut production costs and increased tank capacityKPI's used to track efficiency, throughput, resource utilization and equipment performanceResourcesConnect with Brynn, brynn@gristanalytics.com Connect with other brewery owners and operators 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 Justina Marcial, Director of Operations at Cape May Brewery. Justina shares Cape May's story of selling their distribution rights, how they build a strong culture with their 7 core values, and how they take company communication to a new level with a structured process. Key TopicsCape May's financial and business planning process, software stack and 2024 goalsSWOT planning, Swim Lanes, and Resolutions - Cape May's keys to successHow to use a business coach in business planningResourcesConnect with Justina Marcial at Cape May BreweryLearn more about the financial network for brewery owners and operatorsReady 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 Dave Williams, VP of Analytics & Insights at Bump Williams Consulting.Dave shares tips on how to create a portfolio strategy for the new year. He highlights several areas where beer is "winning" and how breweries can take advantage. And we dig into pricing and price sensitivity at retail. Pricing is a big deal. Dave shares what you need to know about pricing trends and consumer behavior, so that you can position your products for success. Key TopicsTrends in ABV, beer styles, pack sizes - what's working, what's notWhat you need to know about pricing and price elasticityResourcesLearn more about BWC and connect with Dave on LinkedInLearn more about the network of beer industry professionalsReady 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 share tips and tactics to build your taproom financial plan.The process of financial planning (budgeting) can be long and arduous. Today, we talk about how to make it easier and maybe even enjoyable!Key PointsHow to motivate your taproom manager to tackle the budgetThe first steps you should take when starting your planModels and explainer videos to guide you through creating your taproom financial planResourcesLearn about Taproom Success and claim your FREE MONTHTaproom financial planning...where to beginReady 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 Scott Birkner from Dogwood State Bank. If you're looking to fund a startup brewery or expand existing operations, you'll want to listen to this podcast. Scott shares all the details you need to know about SBA lending and how to position yourself to get the best loan possible.  Key PointsTypes of SBA loans available to breweries Eligibility requirements, interest rates and termsThe most common errors breweries make in their financial projectionsSpecific requirements for start-up brewery loansResourcesConnect with Scott Birkner - sbirkner@dsbnc.com or cell: 704.564.5940 Check out the financial network for 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.

In today's podcast Bump Williams shares an early read on the BWC growth strategy survey.  The results are...surprising. The survey is sent to hundreds of retailers, wholesalers and breweries, and asks one simple question:  What are your strategies for growth in the upcoming year?The results are tallied, sorted by the most common answers, and analyzed to determine overlap amongst the companies in the 3-tier system.  One of the goals of the survey is to identify where there is alignment or common growth approaches in the 3-tier system. One big takeaway: The results show a lot of misalignment. What does misalignment look like? Past surveys have shown breweries focused on innovation, while distributors focus on core brands, and retailers emphasize high-end products.  Hard to grow when everyone is rowing in a different direction.Key PointsTop 3 growth strategies for retailers, wholesalers, and breweriesThe divergence of growth strategies keeps getting widerHow beer industry companies can use this information to align their own growth plansResourcesLearn more about how Bump Williams Consulting can help with your growth strategyJoin the network of beer industry pro'sReady 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 hear from Andrew Coplon, founder of Secret Hopper, a mystery shopping service for taprooms and brewpubs.Andrew has tons of data to share from over 6,000 unique taproom visits. Examples include adding paper menus to increase guest spending by 25% and increasing to-go beer sales by 5x with one simple question.  Key TakeawaysThe most important taproom data points to measure and manage  Tactics to train and motivate your staff How Secret Hopper provides feedback and data on the customer experience ResourcesLearn how Secret Hopper can transform your taproom businessData points: The impact of menu types on taproom spendingReady 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 Metazoa Brewing Vice President Lauren Frederick. Lauren's background is in sales and marketing, but she shares her tips and tactics to learn the financial aspects of running a brewery. Many brewery operators are non-financial managers. In today's episode you'll hear Lauren's journey from sales rep to vice president and the financial knowledge she learned along the way. Key TopicsMetazoa's brewery financial planning processSoftware stack, key metrics, and compensation structures Favorite industry publications, resources, and podcasts ResourcesConnect with Lauren Frederick - Lauren@metazoa.beerJoin the beer industry finance groupReady 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.

Aaron Gervais, CEO of Otherwise Brewing, shares how using Melio can streamline payments for breweries. Topics include speeding up collections, paying suppliers, creating a gluten-free brewery, managing cash flow challenges, optimizing costs, and scaling strategies in the industry.