If you are a wine retailer, wine group, or wine organization that puts together the occasional wine tasting for the public, here are some ideas to keep in mind for a successful event. This essay is focused on the small to the mid-sized event, for attendance in the 80 to 800 person range. Large convention Read More…
Category: Wine Math
The wine velocity sweet spot
Right now, today, we have the technology to put self-driving cars into the world that are safe and reliable. Seriously. The technology is there to have fully self-driving cars all over every city in the world. The problem is they max out at two miles per hour. Would you hop in a self-driving car that Read More…
A seven year (payment) plan
How far forward do you plan? Some very smart people insist that five year and ten-year goal setting is not realistic. That there is no way to project that far and know what will happen with the economy, your industry, or even the state of the world. I see their point, but they are wrong. Read More…
Percentage growth, Exponential growth, and a cool little math trick
“I’m going to help you grow your business 6% per year!” Okay, honestly, how many of us can do the math on that one? And what does it really mean in the end? If your business is bringing in $100,000 a year it’s relatively easy math for the next two or three cycles. $106K, then $113K or so, Read More…
Wine Markup, Margin, and Profit
The benefit to learning even the slightest amount about finances and bookkeeping is that is puts you far ahead of the average person in the wine business. The two terms that are used incorrectly most often are markup and margin. I’ve heard them used interchangeably by sales reps, and I’ve heard them mixed up by people Read More…
Some Wine Math You Should Know
Fun stuff to think about: One standard wine barrel = 60 gallons 60 gallons = 25 cases 25 cases = 300 bottles If that barrel costs $1000 then each bottle costs $3.33 more just to pay for that barrel (assuming that a winery is trying to recoup the costs in one vintage, which most do Read More…