Running a brewery or taproom is about more than just crafting the perfect pint. It’s about making strategic decisions that ensure your business not only survives but thrives in an unpredictable industry. One of the most powerful tools in your arsenal? Financial forecasting. Let’s break down why forecasting is a game-changer for brewery and taproom
Category Archives: Financial Literacy
Starting and running a brewery with a taproom can be an exhilarating venture, whether you’re new to the business or have been brewing for years. However, ensuring the financial health and sustainability of your operation is crucial. This blog post explores the top three drivers of cash flow from operations: profitability, inventory management, and accounts
Starting a small business is no easy task. It takes hard work, determination, and most importantly, a sound business plan. Too often, small businesses fail because they are not profitable enough to stay afloat. To ensure the longevity of your small business, it is important to aim for a 10% profit margin. This number may
Profit and loss statements, or P&Ls, are essential financial reports for all businesses. The profit and loss statement is a proof of your business model because it shows how well your expenses and costs are covered by your revenues. The report also breaks down the company’s expenditures by category, such as cost of goods sold,
In order to make a business successful, it is important to understand the difference between profit and cash flow. Profit is what a company earns after subtracting all of its expenses from its revenue. Cash flow, on the other hand, is the actual amount of cash that comes in and goes out of a company