Did you know that as of 2019, there were 8,275 craft breweries operating in the United States? That figure was up from 7,346 in 2018, according to figures released by the Brewers Association and published by Beverage Daily.
Meanwhile, craft distilleries are also growing at a rapid rate. In 2005, when the American craft distilling movement began, there were fewer than 100 active craft distillers. By the year end 2018, the number of craft distillers had grown to more than 1,800 (American Craft Spirit Association).That’s a lot of competition, which means making good beer and opening your doors to customers is no longer enough for a successful craft brewery or distillery business. You now need a solid business plan that puts financial management at the forefront of your operations.
Why financial management is essential for any craft brewer or distiller
Craft distillers and brewers face a mountain of responsibilities each day. The last thing they want to be thinking about in the midst of tasting new recipes, making new sales, cleaning out their equipment and planning their marketing strategy, is their finances.
In such a competitive industry, however, finances are crucial. Ensuring that your craft brewery or distillery is cutting down on wasted costs and maximizing its profits will give you the additional funds you need to invest back into your company and stand out from the crowd.
So, how exactly can your craft brewery or distillery get on top of its finances? A beverage inventory management system will help.
What is a beverage inventory management system?
An inventory management system is an innovative platform that automates your brewery or distillery’s entire inventory. This includes all inventory that you purchase from suppliers, all inventory you use in your products, the products that you serve your walk-in guests and the products you sell through retail outlets.
A beverage inventory management system will automate the process of counting your stock and your ordering processes. In turn, you will receive performance reports and analytics that reveal exactly where you are wasting money and where you can increase profits.
By taking measures to better control how you manage your brewery or distillery’s inventory, you will be able to prevent excess costs and wasted money. The result? You’ll be able to use that money in marketing and branding initiatives that give you the edge over your competitors and increase your profits.
Best of all, automating your inventory management process will save you time. That means you’ll have more time doing what you love - creating incredible recipes that delight your customers and increase sales.
A beverage inventory management system will help you:
- Gain complete visibility into the financial health and profitability of your craft brewery or distillery, with information on how to improve both.
- Show you where you are losing money on inventory shrinkage and loss.
- Help you understand what your PAR level for each product should be.
- Gain insight into which products are in demand and those that aren’t.
- Enable you to understand how to price your beverages and what ingredients you need to order from vendors moving forward.
- Understand what your pour cost is and ways to decrease it.
How Sculpture Hospitality can help
Are you looking to automate your inventory management processes at your craft distillery or brewery and not sure where to begin? Sculpture Hospitality can help.
We have developed innovative food and beverage inventory management systems that include features such as just-in-time ordering, performance reports, precise counts, in-depth analytics and much more.
By using our inventory management system you can automate the entire process, all while protecting your craft breweries or distillery’s bottom line and enhancing profits. Want to find out how it works? Contact the Sculpture Hospitality team of experts today. We would love to answer any questions that you may have.