Finance is always a critical component of business discussions, and this is no exception. We talked about the numbers in episodes 19, 20 & 23, and we do so again here with Purchasing an Existing Brewery. Our guests address determining the value of an existing brewery, what kind of financial due diligence they would recommend, how an existing business can shift the focus of the SBA and lending institutions, and more. Coming from three different spaces in the craft beer industry, Derek Wasak of Plato Brewing & Consulting, Kary Shumway of Beer Business Finance, and Scott Birkner of Dogwood State Bank share their thoughts and experience around navigating the financial aspects of purchasing an existing brewery in today’s market.

Derek Wasak, Founder & Managing Director, Plato Brewing & Consulting

With over 15 years of brewing industry experience, Derek Wasak can help you start up, expand and succeed. He has worked at and with breweries, brewpubs, and start ups of all sixes from 3 – 120bbl brew houses and cellars from 2-100+ Fermenters.

With a specialization in start ups, equipment selection, facility design, and advising breweries of 5000 barrels or less, Derek has the knowledge, skills, and experience to help your brewery in planning.

Derek has spent the last 11 years as head brewer and director of operations at smaller breweries where he has designed and built out entire brewing facilities, beer portfolios, managed operations, and distribution on a day to day basis. In 2020, he made the decision to step away from brewery operations to start Plato Brewing, utilize that experience to pursue consulting full time, and help breweries plan their businesses. Derek is passionate about what he does and enjoys helping others realize their dream of opening a brewery.

Kary Shumway, Founder, Craft Brewery Financial Training & Beer Business Finance

Kary is a CPA, former CFO for a beer distributor, and current CFO for Wormtown Brewery in Worcester, MA. He has worked in the beer industry for more than 20 years as a certified public accountant, and extends his experience to help others through his small businesses.

Scott Birkner, Vice President & Business Lending Specialist, Dogwood State Bank

Scott began his finance career immediately following college, where he worked for Unity Bank and held several progressive positions, from a loan underwriter to a Regional Sales Manager, and then commercial lender. Following this, he became a SBA Business Development Officer, where his portfolio projects ranged from $500,000 - $15,000,000. Scott comes to Dogwood State Bank with over 20 years of SBA Lending, having served as a Senior Business Development Officer for HVC Bank, United Western Bank, Fifth Third Bank, Bank of North Carolina (now Pinnacle), Yadkin Bank (now First National Bank), and United Community Bank. Scott specializes in financing business acquisitions, start-ups, expansions, refinances, partner buyouts and commercial real estate on a nationwide platform. He is passionate about forming relationships with his clients and anticipating their needs throughout the duration of the loan process. Scott is a member of the CVBBA (Carolinas Virginia Business Brokers Association) Brewers Association, America Craft Distillers Association, American Distilling Institute and many State Guilds. He is a frequent speaker, panelist and moderator at business broker events, commercial real estate events, lending conferences, seminars and SBA industry training.

About StartABrewery

StartABrewery is a collaboration amongst a fun group of craft beer industry veterans who are often invited to speak at beer business / brewing education programs. Each has offered to share their knowledge and experience to support the craft beer community as a whole by helping fledgling breweries in planning. Conceived and coordinated by Candace L. Moon, The Craft Beer Attorney, and Laura Lodge of Customized Craft Beer Programs, StartABrewery is provided as an educational resource for those dreaming of opening a brewery, those who are taking steps to make their dream a reality, and those who are opening their brewery doors and living it.

The following music was used for this media project:
Music: Positive Fat Bass Intro Loop by WinnieTheMoog
Free download: https://filmmusic.io/song/6093-positive-fat-bass-intro-loop
License (CC BY 4.0): https://filmmusic.io/standard-license

If there was ever an insider’s look at brewery financing, this is it. Rick Wehner of Brewery Finance and Scott Birkner of Dogwood State Bank hail from lending organizations that are very different in their approaches. Their opinion about business plans, however, has a lot of common ground. For a good hard look at credit, partnerships, different kinds of financing, working with businesses in trouble, and a whole bunch of valuable commentary – take a listen.

Rick Wehner, Founder, Brewery Finance

Rick started his leasing career shortly after college when he went to work for his father’s equipment leasing company, learning the leasing business from the ground up, starting in the file room and slowly working his way through most of the different departments.

Rick eventually went on to start his own equipment finance company along with his brother, and he quickly married his passion for craft beer and his experience with equipment finance by forming Brewery Finance. He’ll be the first to tell you that he is more of a “beer guy that works in finance,” than a “finance guy that works with breweries.”

Scott Birkner, SBA Lending Specialist, Dogwood State Bank

Scott Birkner began his finance career immediately following college, where he worked for Unity Bank and held several progressive positions, from a loan underwriter to a Regional Sales Manager, and then commercial lender. Following this, he became a SBA Business Development Officer, where his portfolio projects ranged from $500,000 - $15,000,000.

Scott comes to Dogwood State Bank with over 20 years of SBA Lending, having served as a Senior Business Development Officer for HVC Bank, United Western Bank, Fifth Third Bank, Bank of North Carolina (now Pinnacle), Yadkin Bank (now First National Bank), and United Community Bank. Scott specializes in financing business acquisitions, start-ups, expansions, refinances, partner buyouts and commercial real estate on a nationwide platform. He is passionate about forming relationships with his clients and anticipating their needs throughout the duration of the loan process.

Scott is a member of the CVBBA (Carolinas Virginia Business Brokers Association) Brewers Association, America Craft Distillers Association, American Distilling Institute and many State Guilds. He is a frequent speaker, panelist and moderator at business broker events, commercial real estate events, lending conferences, seminars and SBA industry training.

About StartABrewery

StartABrewery is a collaboration amongst a fun group of craft beer industry veterans who are often invited to speak at beer business / brewing education programs. Each has offered to share their knowledge and experience to support the craft beer community as a whole by helping fledgling breweries in planning.

Conceived and coordinated by Candace L. Moon, The Craft Beer Attorney, and Laura Lodge of Customized Craft Beer Programs, StartABrewery is provided as an educational resource for those dreaming of opening a brewery, those who are taking steps to make their dream a reality, and those who are opening their brewery doors and living it.

The following music was used for this media project:
Music: Positive Fat Bass Intro Loop by WinnieTheMoog
Free download: https://filmmusic.io/song/6093-positive-fat-bass-intro-loop
License (CC BY 4.0): https://filmmusic.io/standard-license

What does it mean “to leverage your brand”? And how would you do that? Our guests in Start A Brewery Podcast Episode 022 have answers, and do an wonderful job of connecting the discussions in Episode 006: Understanding Your Market & Creating Your Brand Identity and Episode 021: Creating Your Marketing Plan as well. Covering a wide range of topics – from brand strength to brand refresh, social media influencers, and consistency (the episode theme), Taylor Seidler of SeaThirst Creative and Jenny Mann of DIY Social Media for Breweries and Jenny Mann Photography bring examples, stories, and some really actionable insights to the table.

Taylor Seidler, Creative Director, SeaThirst Creative

Now living in Western North Carolina, Taylor started her award-winning design life as an editorial designer at a Boston alt-weekly, moving on to be creative director for a beer magazine & website. Now she’s focused on branding, marketing, and finding the best spots for a hike or canoe trip.

Jenny Mann, Founder of DIY Social Media for Breweries and Jenny Mann Photography

For over 11 years, Jenny has been a huge advocate for craft beer, while working for some of the top breweries and craft beer bars in the San Diego beer community. Her experience includes homebrewing, beertending, developing brewery tours and draft maintenance programs, education, management, sales and marketing. She is a Certified Cicerone and has photographed over half the breweries in San Diego. After seeing the need for beer-specific social media in the craft-beer industry, especially over the last two years, she built a business and online community designed specifically to navigate and guide small-to-medium-sized breweries and brewpubs through the wacky and everchanging world of algorithms and social media to help them get their messages and products out to the masses. Jenny travels all over the country coaching and speaking in front of local brewer guild memberships, helping brewing companies create thoughtful, informative, timely posts to keep fans and followers in the know.

About StartABrewery

StartABrewery is a collaboration amongst a fun group of craft beer industry veterans who are often invited to speak at beer business / brewing education programs. Each has offered to share their knowledge and experience to support the craft beer community as a whole by helping fledgling breweries in planning.

Conceived and coordinated by Candace L. Moon, The Craft Beer Attorney, and Laura Lodge of Customized Craft Beer Programs, StartABrewery is provided as an educational resource for those dreaming of opening a brewery, those who are taking steps to make their dream a reality, and those who are opening their brewery doors and living it.

The following music was used for this media project:
Music: Positive Fat Bass Intro Loop by WinnieTheMoog
Free download: https://filmmusic.io/song/6093-positive-fat-bass-intro-loop
License (CC BY 4.0): https://filmmusic.io/standard-license

Marketing plan? Who needs one? Well…you do. From understanding what exactly a marketing plan is & what it’s for to marketing budgets & target customers, our guests in Episode 021 bring it all to the table. SWOT analysis, road maps, local vs. outside market approaches, marketing budgets, and more….it’s here. It’s not just for the business plan or for the lenders; this is where you make the game plan for your business.

Many thanks to RadCraft for sponsoring Episode 021 and to All About Beer for partnering with us in this podcast endeavor!

Guests:

Ann Obenchain, Vice President, Marketing & Communications, Brewers Association

Ann Obenchain is the Vice President of Marketing & Communications for the Brewers Association. Ann develops and leads the strategic direction of the association's marketing and communications activities, and serves as spokesperson with the media for events, including the Great American Beer Festival, Craft Brewers Conference & BrewExpo America, World Beer Cup, and Homebrew Con.

Julie Rhodes, Owner & Strategic Business Consultant, Not Your Hobby Marketing Solutions

With over 2 decades of experience on the business side - supplier sales, digital marketing, and distribution management - of the craft beverage industry, I provide strategic sales and marketing advice to small to medium-sized beverage alcohol brands through webinars, whitepapers, digital courses, one on one consulting, and group coaching programs.

Bill Wetmore, Sales & Marketing Director/Head of Beer Strategery, Fat Heads Brewery

A highly skilled professional with nearly 20 years of beer leadership experience (marketing, sales, and general management), across dozens of national import and craft brands, Bill is a strategic thinker who combines excellent communication, problem-solving, and motivational skills, with a firm focus on long-term business development, team empowerment, budget achievement and bottom-line results.

About StartABrewery

StartABrewery is a collaboration amongst a fun group of craft beer industry veterans who are often invited to speak at beer business / brewing education programs. Each has offered to share their knowledge and experience to support the craft beer community as a whole by helping fledgling breweries in planning.

Conceived and coordinated by Candace L. Moon, The Craft Beer Attorney, and Laura Lodge of Customized Craft Beer Programs, StartABrewery is provided as an educational resource for those dreaming of opening a brewery, those who are taking steps to make their dream a reality, and those who are opening their brewery doors and living it.

The following music was used for this media project:
Music: Positive Fat Bass Intro Loop by WinnieTheMoog
Free download: https://filmmusic.io/song/6093-positive-fat-bass-intro-loop
License (CC BY 4.0): https://filmmusic.io/standard-license

From business projections to everyday financials! Dovetailing nicely with our previous episode, Getting Into the Numbers, Part II recaps a bit of the groundwork prep you’ll need to start generating numbers for your business plan and then hits seasonal projections… before heading into a thorough discussion of best practices and strategies to help new and existing breweries stay in touch with their financials. It comes as no surprise that communication is the #1 culprit in a lot of distressed situations, and our guests get into some ways to tackle that challenge as well. A deep dive with both strategy and actionable elements throughout.

Audra Gaiziunas, Brewed For Her Ledger

Audra is the owner of Brewed For Her Ledger, LLC. Prior to owning her own company, she served as Dogfish Head Craft Brewery’s Controller 2009-2010 and Mother Earth Brewing’s Chief Financial Officer 2011-2014. She has been working exclusively in craft beer for 11+ years and joined the Brewers Association’s Finance Committee in January 2020.

A graduate from the prestigious Kenan-Flagler OneMBA program at the University of North Carolina at Chapel Hill, Audra possesses over a decade and a half of experience in senior leadership roles in craft brewing, manufacturing, services, non-profits and startups. She earned her undergraduate degree in accounting and business management (double major) from Loras College (Dubuque, IA) in 1997. Her passions include home brewing, mobile marketing, crafting stories from numbers, and paying it forward.

Kary Shumway, Beer Business Finance and Craft Brewery Financial Training

Kary is a CPA, former CFO for a beer distributor and current CFO and Partner of Wormtown Brewery in Worcester, MA. He has spent the last 20 years using finance to help improve financial results in our businesses. Now, he’s helping other breweries, wholesalers and cideries to do the same.

His financial training programs have been developed on a new learning platform in order to deliver the best experience. The programs are designed specifically for non-financial people who have the responsibility of either managing or contributing to the success of business.

About StartABrewery

StartABrewery is a collaboration amongst a fun group of craft beer industry veterans who are often invited to speak at beer business / brewing education programs. Each has offered to share their knowledge and experience to support the craft beer community as a whole by helping fledgling breweries in planning.

Conceived and coordinated by Candace L. Moon, The Craft Beer Attorney, and Laura Lodge of Customized Craft Beer Programs, StartABrewery is provided as an educational resource for those dreaming of opening a brewery, those who are taking steps to make their dream a reality, and those who are opening their brewery doors and living it.

The following music was used for this media project:
Music: Positive Fat Bass Intro Loop by WinnieTheMoog
Free download: https://filmmusic.io/song/6093-positive-fat-bass-intro-loop
License (CC BY 4.0): https://filmmusic.io/standard-license

Proforma, Sales, and Cash Projections, oh my! Episode 019 literally “Gets Into the Numbers”, with a ton of guidance about approaches to the tasks, available templates, and other resources to help you with the financial side of your business plan. Our guests discuss the strategy around conservative plans & projections and what lenders/investors are looking for…and break it down into terms that our hosts can understand. Audra Gaiziunas and Kary Shumway both are chock full of experience, offer different perspectives around how to work into the numbers, and provided such a wealth of information that we are recording again for Getting Into the Numbers Part II.

Audra Gaiziunas, Brewed For Her Ledger

Audra is the owner of Brewed For Her Ledger, LLC. Prior to owning her own company, she served as Dogfish Head Craft Brewery’s Controller 2009-2010 and Mother Earth Brewing’s Chief Financial Officer 2011-2014. She has been working exclusively in craft beer for 11+ years and joined the Brewers Association’s Finance Committee in January 2020.

A graduate from the prestigious Kenan-Flagler OneMBA program at the University of North Carolina at Chapel Hill, Audra possesses over a decade and a half of experience in senior leadership roles in craft brewing, manufacturing, services, non-profits and startups. She earned her undergraduate degree in accounting and business management (double major) from Loras College (Dubuque, IA) in 1997. Her passions include home brewing, mobile marketing, crafting stories from numbers, and paying it forward.

Kary Shumway, Beer Business Finance and Craft Brewery Financial Training

Kary is a CPA, former CFO for a beer distributor and current CFO and Partner of Wormtown Brewery in Worcester, MA. He has spent the last 20 years using finance to help improve financial results in our businesses. Now, he’s helping other breweries, wholesalers and cideries to do the same. His financial training programs have been developed on a new learning platform in order to deliver the best experience. The programs are designed specifically for non-financial people who have the responsibility of either managing or contributing to the success of business.

About StartABrewery

StartABrewery is a collaboration amongst a fun group of craft beer industry veterans who are often invited to speak at beer business / brewing education programs. Each has offered to share their knowledge and experience to support the craft beer community as a whole by helping fledgling breweries in planning.

Conceived and coordinated by Candace L. Moon, The Craft Beer Attorney, and Laura Lodge of Customized Craft Beer Programs, StartABrewery is provided as an educational resource for those dreaming of opening a brewery, those who are taking steps to make their dream a reality, and those who are opening their brewery doors and living it.

The following music was used for this media project:
Music: Positive Fat Bass Intro Loop by WinnieTheMoog
Free download: https://filmmusic.io/song/6093-positive-fat-bass-intro-loop
License (CC BY 4.0): https://filmmusic.io/standard-license