Farm Credit East’s Winery Benchmarks program is currently underway and accepting sign-ups for the 2015 benchmark. This program, now in its eighth year, allows wineries to measure their business against wine industry peer data.
“The benchmark program provides an exclusive report on winery business performance unique to our region, comparison reports showing the participants data next to industry data, an annual meeting and one-on-one follow up with a winery business consultant,” said Gregg McConnell, director of the program. “This year, the benchmark program is growing to include several Michigan wineries that will join us as they build their own regional program. Their participation will bring additional data to the benchmark and new ideas as participants enjoy networking at the meeting.”
Winery owners throughout the Northeast use the benchmarking program 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 and to find new ways to control costs and gain efficiencies. Data collection for this year’s program is currently underway.
Results will be compiled in July and individual benchmark reports will be provided to each of this year’s participants in time for the annual meeting to be held at the New York Wine and Culinary Center in Canandaigua, NY on August 5.