How the course works:
- Divided into an introduction and then 8 Lessons
- Each lesson consists of a series of tasks: watch the video lecture, required reading, WineBizSim financial calculator assignments, and then a simple Lesson quiz.
- You must complete each task to move on to the next task, and then you can move on to the next lesson when you have successfully completed the Lesson Quiz.
Wine Busines Education Financial Calculators:
Each lesson makes use of our proprietary WineBizSim financial calculators to provide a realistic perspective of the costs associated with vineyard operations, cost of grapes, production, packaging, distribution, sales, marketing, and running a tasting room or retail operation. These workbooks are very detailed and can be used as an educational tool to run actual financials or for forecasting purposes. As you are going through the coursework, keep in mind that most wine education focuses on the 'aesthetics' of certain decisions and this course focuses on the supply chain (order in which things occur in the growing, making, and selling of wine) and the value chain (what decisions are made that create a sense of worth to the product through the supply chain).
When you encounter certain practices, treatments, or any element that you do not understand, take time to research and learn more by conducting a simple internet search on the topic. You may be amazed by how effective this is for concurrently increasing your overall knowledge of the source of wine qualities and wine terminology.
NOTE: There is no course text per se. Reading assignments will combine published papers and news/hot topic articles that pertain to each lesson segment. Additionally, you will be asked to view additional videos and conduct simple activities that can be accomplished when shopping at stores (grocery stores, wine stores), winery visits (when/if possible), and dining in restaurants. These activities have you look at wine product selections, pricing, and details you would not normally consider asking yourself, "how did this get here, what is the market for this wine, and how much did it cost to produce it?" Also, strive to discuss the wine business, not your usual wine aesthetic discussions, with anyone and everyone you run into! There is no time limit for any section or part of the course. It can be completed in a week for highly motivated students working several hours a day, or over a period of weeks or even months by anyone wishing to do the work over a longer time period.
Through a combination of video lectures, project-based learning, selected reading, and optional activities, students will be able to:
- Understand the contribution of the individual components (grapes, production, cellaring, and packaging) to the potential cost and value of a wine product.
- Describe the business issues associated with viticulture, production, marketing, distribution, and points of sale.
- Evaluate alternative approaches for weighing the quality and financial options associated with viticulture, production, marketing, distribution, and points of sale.
- Calculate costs associated with the different components of a wine business: wine cost of goods, sales channel options, marketing, and point of sale.
- Expand the understanding of the distribution and regulatory issues to include the international wine market.
- Assess the internal environment of a wine product or business, identifying the strengths and weaknesses in a wine business by conducting a SWOT analysis.
- Assess the external environment, identifying the opportunities and threats to a wine business by conducting a SWOT analysis.
- Draft a plan for going to market with a new wine product or business based.
- Plan for and consider understanding global supply and demand issues and effects, future wine markets, and alternative channels of wine commerce.