Last week, we had a chance to team up with Ekos to talk about the current state of the craft industry, The Package Store pivot, and some of the specific financial implications of the new model both during and post-COVID.
Here’s the webinar replay:
And here are some timestamps for reference:
- 0:00 – Introduction and agenda for the session.
- 3:35 – Congratulations, you’re still open and operating!
- 4:39 – When do we get back to normal?
- 5:22 – Getting comfortable with the “new normal.”
- 8:18 – The Reopen: What happens to the taproom?
- 8:59 – The Package Store: What are the implications?
- 11:26 – The shift to three business models.
- 13:21 – Preserving cash flow and financial consistency.
- 18:16 – Labor Cost: Diving into the metrics for production, sales, taproom and admin before, during after COVID.
- 25:13 – An example of what these labor numbers look like in practice.
- 28:44 – Profit per SKU and how to leverage this report to identify opportunities and make decisions on product mix.
- 31:27 – The full Metric Grid for the other P&L line items: COGS, advertising, occupancy, G&A, EBITDA, interest, net profit.
- 35:42 – What happens to these metrics during and post-COVID?
- 37:44 – Next steps.
- 40:08 – Question: Is your post-COVID model when we’re at 100 percent occupancy?
- 41:29 – Question: What are you recommending for max loan forgiveness?
- 43:11 – Question: How can businesses influence local policy?
- 44:47 – Question: Can you expand on taking the taproom experience home?
- 48:12 – Question: Where were taproom transfers in your grid?
- 49:00 – Question: What’s your biggest concern for brewing in the next 6 months?
- 51:17 – Question: Should we rehire our team if we don’t have enough work?
If this strikes a chord or there are other elements of this new model you’re seeing that you’d like to chime in with, please do email us at chris@sbstandard.com reply to strike up a conversation.
We’ll be continuing to develop this out and would love your input.