Beer Business Finance

In today's podcast we hear from Brad White from VxP Tech.  Brad  shares a proven and profitable compensation program for distributor sales teams. Topics covered: The key drivers of financial performance: Gross profit, volume and finished product loss How to link these key drivers to sales compensation How to automate compensation programs using technology Resources Learn more about VxP  Liste...

Craig Purser is President and CEO of the National Beer Wholesalers Association. Today we hear his perspective on the state of the beer industry, get a recap from the recently concluded legislative conference, and learn more about the Next Generation Leadership Conference for emerging leaders. Key Topics Craig's perspective on the state of the beer industry Highlights from the NBWA legislative...

NBWA economist Lester Jones joins the podcast today with an update on 2022 beer sales trends to help you prepare for the summer selling season. Key Topics Early beer sales trends for 2022...and what they mean for your business Lester's expectation for the beer summer selling season How to combat the headwinds: inflation, supply chain issues, labor challenges... Learn about the NBWA compensati...

What if you could pay your frontline sales reps based on what really matters to your business? In today's podcast, you'll learn how. Brad White from GP-Analytics joins us to explain how to use the VxP Compensation System to build a comp plan based on the key drivers of profitability in your beer business: Gross profit, volume and FPL (finished product loss).  Key Topics Traditional whole...

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...

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...

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 indu...

The single best way to improve profitability in your business is to measure and manage your gross profit margin. In the podcast we’ll take a deep dive into the key drivers of gross profit so that you can improve this critical number.  Key Topics Covered in the Podcast: Gross profit fundamentals: Calculations, what’s included/excluded in cost of goods sold Cost of delivery: Practical application of...

Inventory is a huge asset for beer wholesalers, and it consumes a lot of cash. In today’s podcast, we’ll review how to use numbers to measure and improve your inventory management plan.  Key Topics Covered in the Podcast: How to calculate the total carrying costs of inventory (and cost spreadsheet model) One page inventory count process checklist How to create an inventory scoreboard to quantify i...

Gross profit is one of my favorite topics. In this podcast, I share the audio from my webinar titled How to Improve your Wholesaler Gross Profit.  Gross profit measures how much of each sales dollar is kept by the wholesaler. The math works like this: Sales minus cost of goods sold equals gross profit. On average, about 75% of the sales dollars goes to the supplier, freight carrier and the tax man...

In this podcast we’ll review tips, tactics and strategies to help you build a profitable sales plan. The goal is to create a plan with actionable steps to achieve your sales goals.  Key Topics Covered in the Podcast: Sales planning fundamentals: Team, timing, and tools to use Open book management sales planning techniques How to align the sales plan with the business plan One page checklists and m...

In today's podcast we hear from Guy Amisano, the Founder and CEO of Salient Management company.  Salient created a software solution that puts tools and data in the hands of reps in the field.  Salient allows managers to overcome the major barriers to making business activity coherent, transparent, and controllable so that they can determine where to invest time, money and energy for the grea...

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 Technologies, 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...

In today's podcast, you'll hear a replay of the live Q&A session from the Beer Wholesaler Financial Training Program. In this episode we cover wholesaler cash flow management: Best practices, key drivers of cash flow, and scorecards to track, measure and improve your cash position. The Beer Wholesaler Financial Training Program is for beer wholesaler owners, managers and staff who ne...

In today's podcast, you'll hear a replay of the live Q&A session from the Beer Wholesaler Financial Training Program. In the episode, we cover the 6 Steps you can follow to create your beer wholesaler financial budget. The Beer Wholesaler Financial Training Program is for beer wholesaler owners, managers and staff who need practical financial training to improve cash flow and profita...

In today's podcast, you'll hear a replay of the live Q&A session from the Beer Wholesaler Financial Training Program. In this episode we review common beer wholesaler financial problems, how to quickly identify them, and how to fix them.   The Beer Wholesaler Financial Training Program is for beer wholesaler owners, managers and staff who need practical financial training to improve...

In today's podcast, you'll hear a replay of the live Q&A session from the Beer Wholesaler Financial Training Program.  In the episode, we cover best practices you can follow to create your beer wholesaler financial statements. The Beer Wholesaler Financial Training Program is for beer wholesaler owners, managers and staff who need practical financial training to improve cash flow and...

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 Win...

Today we talk with Todd Grote and Rick Flagg from OnTrak software.  OnTrak makes software to help beer wholesalers reduce costs and sell more products.  In our conversation, we talk about specific tools to help distributors get a handle on different parts of the business:  Printed POS - signs, banners, table tents Permanent POS - coolers, tap handles, umbrellas Line tracking - draft line operation...

In today's podcast we present tips, best practices and key questions so that you can build a profitable financial plan for your beer business. Beer Wholesaler Financial Planning Topics Financial Planning Best practices, Key questions Planning pitfalls to avoid 7 Steps to a Brewery Financial Plan Sales, margins, operating expenses How to build the schedules, without perfect information Resourc...

Inventory is a huge asset on the balance sheet and it just keeps growing. In today's episode we'll review best practices to measure, monitor and improve wholesaler inventory management. Beer Wholesaler Inventory Topics Covered How to Compute Total Inventory Carrying Costs Quantify fixed + variable, template to capture costs Best Practices for the Inventory Count Process  Cycle Counts, Fu...

In today's podcast we take a deep-dive into what Gross Profit is, why it's important, and how your managers can improve this critical number in your beer business Topics Covered: Gross Profit (GP) Fundamentals GP Calculations, Items Included / Excluded Practical Uses of Gross Profit Knowledge Decision Making Tool, Cost per delivery, Hot Shots Common Errors in Gross Profit How to identify...

In today's episode we'll talk about strategies that you can use to build a winning sales plan. We'll cover best practices, planning pitfalls to avoid, and sales plan models to get you started. Sales Planning Fundamentals Team, Timing, Tools Who should be involved in planning, how to set deadlines and tools to complete the plan Sales Growth using Open Book Management Game Changer: St...

Beer Business Finance is for beer wholesalers who want to improve financial results in their business. Competition is fierce, and financial knowledge will give you a competitive advantage in the marketplace. Profitable Topics we cover for Beer Wholesalers Cash flow management - The key drivers in your beer business Performance metrics - benchmarking, KPIs and tracking tools Compensation Planning S...

For most beer distributors, inventory is the biggest asset on the balance sheet. In today’s podcast we’ll review the importance of keeping score of that big asset and review four […] The post BBF 021: The Inventory Scoreboard appeared first on Beer Business Finance .