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Episode Sixteen: David Crooch • Ritual Beverage
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The Month End provides emerging inventory based brands real life knowledge in the accounting, finance, and operational world. Our guests are not only similar brand founders and owners, but key stakeholders and contributors to the industry. Each episode provides a glimpse into the vast experience and insight from its guest’s unique background in a casual, conversational tone.
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In episode sixteen, Accountfully's Managing Partner, Brad Ebenhoeh sits down with Founder and CEO of Ritual Beverage Company, David Crooch. He tells us why (and how) he and his cofounder - two cocktail enthusiasts - decided to launch a non-alcoholic beverage company; from initial conversation, to award winning non-alcoholic Tequila. On the CPG business side, we take a journey through his detailed sales channel strategy and learn how he manages and plans for the margins of each. This is a robust episode full of inventory management and small business development knowledge-sharing that you don’t want to miss.
SHOW NOTES and VIDEO RECORDING: http://www.accountfully.com/podcast
The Ritual Beverage Website: http://www.ritualzeroproof.com
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Chapters
1. Episode Sixteen: David Crooch • Ritual Beverage (00:00:00)
2. Ritual Beverage Intro and Story (00:00:48)
3. The top selling product(s) and the award winner (00:02:42)
4. What David focuses on as CEO (00:04:12)
5. The importance of a positive first impression in a new product space (00:05:37)
6. Ritual's sales channel plans (00:06:18)
7. Favorite sales channels and how David assess the success of each (00:08:34)
8. Margin analysis by sales channel (00:11:25)
9. Retail/ Natural foods sales overview and thoughts (00:13:09)
10. Lessons learned surrounding freight costs and shipping across sales channels (00:14:10)
11. How Ritual is managing their sales channels and inventory systems/processes (00:15:51)
12. Details on how Ritual manages their production forecast and model (00:18:24)
13. How Ritual factors in cash flow across the model and forecasts (00:20:45)
14. How recent supply chain challenges have played into Ritual and ways they have addressed it (00:21:21)
15. David's CPG biz wins to get some supplier breaks (00:23:21)
16. KPIs that David reviews, and how often (00:24:55)
17. Whats next for Ritual Beverage (00:27:08)
18. David's CPG "do" (00:28:33)
19. David's CPG "don't" (00:29:28)
20. Ritual Beverage Recipes (00:30:53)
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