5 thoughts on “Money and Profit in the winery business: do they exist?”
While reading this article, I was struck by the author’s argument that the definition of success within the wine-making industry needs to change. The author asserts that the notion of financial success should no longer be measured in terms of profitability, but in terms of financial sustainability, meaning that the winemaker has a responsibility to ensure to use their profit to ensure that their estate will still be here tomorrow. In our ever-changing world, the costs of production are now partnered with environmental and social costs, and these are certain to fluctuate as the global economy and governmental policy changes. It can be difficult to predict exactly what it will take to simply remain afloat as a business, let alone to ensure future success. The wine industry is facing new challenges today, and it will be very interesting to see how winemakers address and overcome obstacles as they re-orient to a more long-term perspective.
What I thought was interesting from this article was the sustainable side. How it effects the process of the financial side. Allot of people wouldn’t expect it but wind itself has allot of organic vegetables and fruits that intertwine with alchohal. For producing wine you want to make sure you get the best product and that it taste good and looks good. Lastly they also talk about how money isn’t everything you just want to do things that makes you happy.
The one of the first things that I found interesting is that the French had to add a law that allows the spouse to collect a pension for the hard work that they do for the winery. It proves that these places are turning a profit.
The second thing is that since some family members have to work outside of the home that they may not be as profitable.
Lastly, if majority of the families who own wineries are content with being able to pay their bills and then some then I would consider them profitable.
I thought it was interesting to hear the authors family history of having a vineyard and how it differs to today. It sounds like his family was not focused as much on selling a ton of wine given that they sold a portion and then kept the rest for the family. I also thought that it was interesting that the writer said that financial success should not be measured by profit but by the ability to make sure that the vineyard is still there tomorrow.
While reading this article, I was struck by the author’s argument that the definition of success within the wine-making industry needs to change. The author asserts that the notion of financial success should no longer be measured in terms of profitability, but in terms of financial sustainability, meaning that the winemaker has a responsibility to ensure to use their profit to ensure that their estate will still be here tomorrow. In our ever-changing world, the costs of production are now partnered with environmental and social costs, and these are certain to fluctuate as the global economy and governmental policy changes. It can be difficult to predict exactly what it will take to simply remain afloat as a business, let alone to ensure future success. The wine industry is facing new challenges today, and it will be very interesting to see how winemakers address and overcome obstacles as they re-orient to a more long-term perspective.
What I thought was interesting from this article was the sustainable side. How it effects the process of the financial side. Allot of people wouldn’t expect it but wind itself has allot of organic vegetables and fruits that intertwine with alchohal. For producing wine you want to make sure you get the best product and that it taste good and looks good. Lastly they also talk about how money isn’t everything you just want to do things that makes you happy.
World’s first winery airline is up and running (blog post)
https://www.thedrinksbusiness.com/2023/02/worlds-first-winery-airline-up-and-running/
The one of the first things that I found interesting is that the French had to add a law that allows the spouse to collect a pension for the hard work that they do for the winery. It proves that these places are turning a profit.
The second thing is that since some family members have to work outside of the home that they may not be as profitable.
Lastly, if majority of the families who own wineries are content with being able to pay their bills and then some then I would consider them profitable.
I thought it was interesting to hear the authors family history of having a vineyard and how it differs to today. It sounds like his family was not focused as much on selling a ton of wine given that they sold a portion and then kept the rest for the family. I also thought that it was interesting that the writer said that financial success should not be measured by profit but by the ability to make sure that the vineyard is still there tomorrow.