Understanding your cost of goods sold (COGS) is important to your craft. Armed with this knowledge, you might find a little extra room in your budget to invest in that special project to take your wines to the next level. You won’t know until you start tracking costs, and over time you can use historical data to make better, more informed decisions that increase profitability.
Join Tara Bomberger, vice president of finance at A to Z Wineworks and Rex Hill; Erik McLaughlin, CEO at Metis Mergers & Acquisitions; and Bree Boskov MW from the Oregon Wine Board as they guide you through case studies that demonstrate how understanding your COGS directly impacts your profitability. You will also learn how the unique Oregon Wine Profit Calculator tool can help you make decisions that positively affect your bottom line from the vineyard to winemaking to bottling to sales. Learn best practices, what legally constitutes COGS for the wine industry and how a thorough understanding of these concepts will directly benefit your business’s profitability.
This will be a hands-on session so bring your laptop to begin creating your own profit report using the Oregon Wine Profit Calculator. This tool has been specifically designed for the Oregon industry by the OWB using benchmarking data from Oregon experts and accountants. Request access for your accountant, winemaking and sales team, and a tutorial will be sent upon approval.