Trending...
- Spartan & Guardians Partner with Guitar Legend Buckethead to Support Global Child Rescue Efforts
- Preliminary.online Introduces Short-Term Job-Readiness Courses with Employer-Verified Certifications
- Governor Newsom honors fallen California Highway Patrol Officer Miguel Cano
Wine and Hospitality Student Teams vie for the Virtual Best Wine Brand Business Plan
NAPA, Calif. - Californer -- Registration is now open for entering the 2020 Intercollegiate Wine Business Invitational (IWBI). Beginning the second week of September, the program consists of webinars, ongoing support forums and resources to keep the students engaged and productive until the final submission date of November 1, 2020. The competition is organized by Wine Business Education LLC, under the guidance of America's first Master of Wine, Tim Hanni, and supported by faculty advisors from each institution.
The IWBI provides a hands-on learning opportunity for hospitality, wine business and general business students by creating an engaging and realistic wine business and team environment. Participation in the IWBI will result in future winemakers, marketers, salespeople and buyers in both restaurant and retail environments that have the advantage of understanding how the complex and fascinating wine industry works. In turn they will provide greater value in their future roles as professionals in every area of viticulture, wine production, marketing, sales or as a buyer for stores, e-tailers or restaurants. The elements of the competition are set up in a way that each participant on a team, regardless of their general wine knowledge, can focus their attention on various elements of product ideation, brand development production costs, packaging development and decisions, and supply chain costs and considerations.
More on The Californer
The winning team is the one that presents the best label, business plan and financials for their cost of goods and distribution pricing for a $25-$40 retail wine from any state in the US. Awards will be given in each of three categories (label, business plan and financials) and the Grand Prize will be awarded to the team with the best scores for all three categories combined. Coordination, tutorials, online webinars and proprietary financial calculators are provided by WineBusinessEducation.com for use by the students and participating schools.
Each team will prepare and submit documentation in three key areas for their wine/winery that are evaluated by panels of industry experts, journalists, etc., who will judge each component of the competition:
● Business Plan - Each team provides the mission, vision and goals of the winery, outline sales and marketing strategies and conduct a competitive analysis for their wine.
● Financial Plan for working up cost of goods, establishing wine FOB selling price, plus distribution and pricing financials for establishing selling price of the wine in retail stores, online and restaurants.
● Wine Label including winery name, wine name and information that meets Certificate of Label Approval standards (both front and back labels including the wine and winery name, verbiage, label graphics and legal information).
More on The Californer
The key financial component of the competition is an online suite of wine-industry specific financial calculators developed by Wine Business Education. A separate account will be set up for each team. They will receive login credentials, instructions and support to create their project financials to develop the finished cost of goods for their wine and a pricing calculator. The system will allow them to create, save, recall and edit Intercollegiate Wine Business Invitational projects. For a demonstration/FAQ regarding the proprietary financial workbooks, please visit: http://winebusinesseducation.com/workbooks/.
Higher learning institutions with a hospitality program, winemaking or wine business program, and/or with a general business program are encouraged to participate in the 2020 Intercollegiate Wine Business Invitational. You can learn more about the competition details at Winebusinesseducation.com/iwbi.
ABOUT:
Tim Hanni, MW, is one of the first two Americans to successfully complete the examination and earn the title Master of Wine. He is a Certified Wine Educator accredited by the Society of Wine Educators and has been involved with wine- and food-related businesses, education, and research for more than 35 years.
The IWBI provides a hands-on learning opportunity for hospitality, wine business and general business students by creating an engaging and realistic wine business and team environment. Participation in the IWBI will result in future winemakers, marketers, salespeople and buyers in both restaurant and retail environments that have the advantage of understanding how the complex and fascinating wine industry works. In turn they will provide greater value in their future roles as professionals in every area of viticulture, wine production, marketing, sales or as a buyer for stores, e-tailers or restaurants. The elements of the competition are set up in a way that each participant on a team, regardless of their general wine knowledge, can focus their attention on various elements of product ideation, brand development production costs, packaging development and decisions, and supply chain costs and considerations.
More on The Californer
- California: Governor Newsom proclaims Independence Day 2025
- Gundam GQuuuuuuX Takes Center Stage at Anime Expo 2025
- John Duffy Competes in Mr Muscle Beach
- New Release: 'The Invisible Alternative' Unveiled by Atrisk Corporation, Resilient
- Thorn & Bloom Magazine Unveils Groundbreaking Second Edition: "Breaking the Cycle"
The winning team is the one that presents the best label, business plan and financials for their cost of goods and distribution pricing for a $25-$40 retail wine from any state in the US. Awards will be given in each of three categories (label, business plan and financials) and the Grand Prize will be awarded to the team with the best scores for all three categories combined. Coordination, tutorials, online webinars and proprietary financial calculators are provided by WineBusinessEducation.com for use by the students and participating schools.
Each team will prepare and submit documentation in three key areas for their wine/winery that are evaluated by panels of industry experts, journalists, etc., who will judge each component of the competition:
● Business Plan - Each team provides the mission, vision and goals of the winery, outline sales and marketing strategies and conduct a competitive analysis for their wine.
● Financial Plan for working up cost of goods, establishing wine FOB selling price, plus distribution and pricing financials for establishing selling price of the wine in retail stores, online and restaurants.
● Wine Label including winery name, wine name and information that meets Certificate of Label Approval standards (both front and back labels including the wine and winery name, verbiage, label graphics and legal information).
More on The Californer
- Cheap O SMS Launches Groundbreaking Free SMS API Service
- California: Governor Newsom signs legislation 7.3.25
- Fireworks, fun, and safety: California preps for the holiday weekend
- BillBoards Inc. Hits the Road with God Bless America Tour and Reality Series Now Streaming on Tubi TV
- Legacy vs. Legacy Gala: Celebrating the Past, Powering the Future of the L.A. Watts Summer Games
The key financial component of the competition is an online suite of wine-industry specific financial calculators developed by Wine Business Education. A separate account will be set up for each team. They will receive login credentials, instructions and support to create their project financials to develop the finished cost of goods for their wine and a pricing calculator. The system will allow them to create, save, recall and edit Intercollegiate Wine Business Invitational projects. For a demonstration/FAQ regarding the proprietary financial workbooks, please visit: http://winebusinesseducation.com/workbooks/.
Higher learning institutions with a hospitality program, winemaking or wine business program, and/or with a general business program are encouraged to participate in the 2020 Intercollegiate Wine Business Invitational. You can learn more about the competition details at Winebusinesseducation.com/iwbi.
ABOUT:
Tim Hanni, MW, is one of the first two Americans to successfully complete the examination and earn the title Master of Wine. He is a Certified Wine Educator accredited by the Society of Wine Educators and has been involved with wine- and food-related businesses, education, and research for more than 35 years.
Source: Wine Business Education LLC
Filed Under: Education
0 Comments
Latest on The Californer
- New Media Film Festival Announces Winners
- New Podcast "Spreading the Good BUZZ" Hosted by Josh and Heidi Case Launches July 7th with Explosive Global Reach and a Mission to Transform Lives
- DetailAxis Unveils it's 'Business Engine': Powerful AI Systems for Auto Appearance Pros
- California: Governor Newsom announces appointments 7.2.25
- The Herbal Care, Led by Markel Bababekov, Becomes a Top Dispensary in NYC's Upper East Side
- Digital Watchdog Launches New myDW Cloud Services
- Governor Newsom honors fallen California Highway Patrol Officer Miguel Cano
- Stan Fitzgerald Appointed Acting Press Secretary for Veterans for America First VFAF Georgia State Chapter
- Drone Light Shows Emerge as the New Standard in Live Event Entertainment
- Lore Link is Here to Help Organize Your Game
- Governor Newsom marks historic expansion of California's Film and Television Tax Credit Program, announces 16 new projects to film in the Golden State
- Talar Guedikian Named Winner of 2025 AAJ Paralegal of the Year Award, Sponsored by Advocate Capital
- Chappaqua's Annual Townwide Summer Sale – Unbeatable Savings at Your Favorite Local Boutiques!
- Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
- California: Did gas prices go up by 65 cents at the pump? No.
- Snell & Wilmer Welcomes Associate Victoria Cendejas to the Orange County Office
- Crime in California drops again — state records second-lowest homicide rate since 1966
- FireAid Donates $75,000 To California Strong To Distribute To Palisades and Eaton Fire Victims
- Celebrate Safely: 4th of July BBQ & Celebration Essentials from Mercury Insurance
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)