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