Not many people get into brewing for the finances. They are complex and lately probably fairly depressing, but they are extremely important to understand and analyze. The income statement, balance sheet and statement of cash flows measure and report the financial results of a craft brewery. These are numbers a brewery must have confidence in, but how confident do you feel about those numbers these days? How confident are you in your business plan compared to a year ago? How has your income statement evolved in our new COVID economy — beer sales, cost of sales, margins, operating expenses and net income or, gulp, net loss.
Well, this might help: The Brewery Financial Training Program is for craft brewery owners, managers and staff who need practical financial training to help improve cash flows and profitability during the pandemic. The course is taught by a CPA with over 20 years of experience working in the beer business as a chief financial officer. Kary Shumway is the founder of Beer Business Finance and Craft Brewery Finance, online resources for beer industry professionals. He’s written some amazing articles for this site, which you peruse below to gauge his qualifications.
During the COVID-19 pandemic, financial training has become a survival skill. This course will provide pros with tools and strategies to navigate the financial challenges and build a strong brewery business for the future. Moreover, the course is perfect for brewery owners and managers who are focused on creating great beer and a great beer business. The financial training program provides attendees with straight-forward, actionable tactics to build a stronger and more profitable company.
A more profitable brewery gives you a competitive advantage in the market by providing the ability to invest in new equipment to meet changing market demands, carry a sufficient safety stock of critical packaging materials (cans, raw materials, etc.), and have a cash cushion to weather future reductions in sales and cash flows due to the pandemic, or other market downturns. Learn more right here, and then enjoy some of these excellent financial articles.