Hey there, Happy New Year My name is Chris Farmand and I am the founder at Small Batch Standard. We are the premiere financial agency for craft. Over the past 12 years our team has been immersed in craft beer finance. Needless to say we have learned a lot, and the industry has evolved. I …
If you are just joining us….welcome.Over the past 2 weeks I have been on a tear about the importance of Minding the Gap in your brewery’s finances. First up was Revenue and then came Cost of Goods Sold… And today we are talking about the hard part…General and Administrative Expenses. No one is talking about …
When I visited London as a teenager I still remember seeing “Mind the Gap” everywhere. Street vendors and tourist shops were filled with merch plastering the words on hats, shirts, bags, etc, etc, etc Looks like that might still be the case today… Anyways. So it’s been a week since I’ve asked you to book …
Happy December, damn this year flew by. Brewery owners are obsessed with revenue. Sometimes referred to as “Sales” or “Top Line” “Bruh, sales are down 20% quarter over quarter and we don’t know what to do.” I am getting the sense that as long as revenue remains the same or grows, you think everything will …
I talked recently to a brewery looking to build a new taproom across town. Their current taproom was packed nightly and they knew the potential new location to be a beer desert. They would make a killing. The bank said no. They were too risky. They talked to several investment firms, only to be told …
Are you running a business or a hobby? You might say: “Of course I’m running a business. I have a tax ID. I have a building. I’m selling a product. I employ people. My business is 5 years old already.” Turns out, it takes a little more to differentiate between a business and a hobby. …
Do you know the cost of your beer? Do you spend evenings tinkering with a multi-tab, multi-thousand cell costing spreadsheet you made, where you think you’ve added in all possible ingredients, trying to nail down exactly how much money you’ll make on your beer? And do these numbers not jive with what’s happening in reality? …
We have a Scottish Terrier named Wallace, and he’s the quietest dog I’ve ever been around. In the house, there is no barking, no whining; basically silence. You might hear the occasional grumble or huff when he’s annoyed, but that’s about it. However, Wallace owns his backyard. When he’s allowed in the yard, he patrols …
I want to talk about taproom revenue per square foot. I’ve been at Small Batch Standard for a little over a year, and on multiple occasions I have heard the metric of taproom revenue per square foot brought up. We consider your taproom square footage to be the space usable by your customers. We do …
Have you ever heard of panning? Simply put, it’s a form of mining. In layman’s terms, you go to a water source, put a bunch of rocks in a pan, put it in the water, and the heaviest minerals (usually gold) will fall to the bottom of your pan. It looks like this: It’s simple, …