Success strategies for progressive businesses.
Click play below to learn more about the Winery Benchmarks program from the program's director, Gregg McConnell.
Take your business to the next level.
The Farm Credit East Winery Benchmarks program is a unique way to see how your business stacks up against your industry peers. You will receive in-depth financial and operational analyses of your business, interact with other successful winery owners, take part in dialogue to understand your industry better and gain constructive feedback from an experienced Farm Credit East consultant. Past participants have told us that the insights, examples and data they obtain provide the guidance they need to take their businesses to the next level. The Winery Benchmarks program is an opportunity for you to join forces with other winery owners to create a better understanding of your industry and put practical business solutions to work immediately.
Who participates in this program?
Winery owners throughout the Northeast use our benchmarking to:
- Identify the strengths and weaknesses of their businesses
- Find strategies to capture the full market value of their products
- Create marketing that matches the quality of their wine
- Find new ways to control costs and gain efficiencies
The total program
Data collection. Your Farm Credit East benchmark specialist will work with you to compile data that profiles many aspects of your business, from profitability to transaction counts to employee compensation and benefits.
Data analysis. Farm Credit East will incorporate your results with data from winery operations in the program to illustrate how your business compares to others of similar size, style and region.
Winery Benchmarks Report. The Winery Benchmarks offers two report options:
- Management Review report is a customized, in-depth report that gives you a one-of-a-kind snapshot of your business. You’ll find multiple comparisons of your data to similar businesses’ data, from profitability and sales per visitor to sales per days open, labor costs and more.
- Executive Summary report requires less data for a reduced cost. This report is ideal for wineries that are just getting started in the program and may not have all of the data required for the more comprehensive report.
Winery Executive Round Tables customized to your unique group. This is your opportunity to learn from experienced consultants working in the program and network with other successful winery owners. You’ll hear presentations on targeted management topics and get answers to your questions. You’ll roll up your sleeves and get down to work discussing critical industry issues and applying benchmark highlights to your own situation.
Follow-up meeting. Following the seminar, a Farm Credit East consultant will visit your business to review your personal benchmark results in detail with you. This is your opportunity to work on your objectives and pick up a personalized action plan on how improvements will impact your bottom line.
Program extras. Networking opportunities; small group meetings on special interests; special studies; and access to members-only online community.
How winery business owners use this program
Owners enter the program with lots of questions about improving their businesses, including …
- How can I decrease labor expenses?
- How does my wine pricing and varieties compare with others in my region?
- How effective is my retail staff?
- How efficient is my production staff?
- Am I carrying too much inventory?
- How does my business measure up to other top wineries?
- How do I know when it’s time to expand my business?
- Is my compensation package competitive?
… and they walk away with answers.
Interested in participating in the Winery Benchmarks program?
For more information on the Winery Benchmarks program contact your local Farm Credit East branch or click here to send an email requesting more information.