January 2023 discussion with Ed Mysolgland of How to Sell a Business podcast. How wineries create value, what to look for in purchasing a winery and how to make a winery sales ready.
Category Archives: Strategic Planning
Guide for Preparing the Winery for Fire Season
Last year was the worst fire season on record for the west coast of the US. Fires in California, Oregon and Washington led to lost vintages, burned vineyards and smoke tainted wine. One estimate puts the loss at $3.7 billion for last year alone. But the real loss may not be seen for years asContinue reading “Guide for Preparing the Winery for Fire Season”
A Case for By-Appointment Tasting Rooms
As we move back into open tasting rooms and, hopefully, a more normal wine country summer and harvest, the question has come up: Should tasting rooms continue to be by-appointment, or should they be open for all walk-in customers? The 240% jump from walk-in tasting rooms to by-appointment in the last year, as highlighted inContinue reading “A Case for By-Appointment Tasting Rooms”
What’s Your Vision?
A common question from clients and prospective clients is: Where do I start? My suggestion is: Start with your vision. Deciding on the vision for your winery or winery business is the very first step in creating a successful company. So, what is it and how do you write it? The vision comes first BeforeContinue reading “What’s Your Vision?”
The RRF is for Wineries Too!
Update May 20, 2021: As of May 12, 2021, the $28.6 billion Restaurant Revitalization Fund (RRF) received more than 147,000 applications from women, veterans, and socially and economically disadvantaged business owners, requesting a total of $29 billion in relief funds. Because SBA still has potential funding available for eligible establishments with 2019 annual revenue of notContinue reading “The RRF is for Wineries Too!”
Strategic Plan Creation for Long Term Success
A strategic plan will help your company succeed and plan for the future. A Strategic Plan is a ten year financial plan that forecasts expenses and sales, and includes a Threats and Opportunities Assessment. When writing this plan, start with where you want to be in ten years.
Plan for the future by creating financial plans that enable you to grow your business, capitalize on opportunities and weather the threats.