I. General Information

1. Course Title:
New Wine Business Feasibility

2. Course Prefix & Number:
VITI 1130

3. Course Credits and Contact Hours:

Credits: 3

Lecture Hours: 3

4. Course Description:

This course provides a systematic look at the different components of a successful wine or vineyard brand and assists students in creating a plan for a profitable business. Students will be exposed to key aspects of the business, including the regulatory climate for making and selling wine or grapes, financial frameworks to develop a vineyard and/or winery or to create a virtual brand, and different models for profitability. Every student will be given the tools and frameworks to critically evaluate this competitive landscape and make decisions on a course of action.

5. Placement Tests Required:

Accuplacer (specify test):

No placement tests required

Score:

6. Prerequisite Courses:

There are no prerequisites for this course.

9. Co-requisite Courses:

There are no corequisites for this course.

II. Transfer and Articulation

1. Course Equivalency - similar course from other regional institutions:

Missouri State, VIN 130
Highland C.C., VIN 130

2. Transfer - regional institutions with which this course has a written articulation agreement:

The Viticulture and Enology Science and Technology Alliance (VESTA):
Technical Certificate or Associate of Applied Science Degree in Viticulture or Enology or Wine Business Entrepreneurship.  Partnerships were established as follows: 
Missouri State – West Plains 2003
N.E.Iowa Community College 2004
Redlands C.C., OK 2005
Rend Lake C.C., IL 2007
Michigan State University, MI 2008
Highland C.C., KS 2008
Arkansas Tech. University, AR  2009

III. Course Purpose

1. Program-Applicable Courses – This course fulfills a requirement for the following program(s):
Wine Business and Entrepreneurship - Certificate, AAS

IV. Learning Outcomes

1. College-Wide Outcomes

College-Wide Outcomes/Competencies	Students will be able to:
Demonstrate oral communication skills	Explain and discuss the financial frameworks in developing a vineyard, winery or virtual brand.
Demonstrate interpersonal communication skills	Demonstrate an understanding of the regulatory environment
Analyze and follow a sequence of operations	Analyze the feasibility of an intended project against the cost identified in a financial model.

2. Course Specific Outcomes - Students will be able to achieve the following measurable goals upon completion of the course:

• Discuss different models of success – e.g. values, intended purpose, availability of supplies and resources, and options;
• Identify the different models, types, and scopes of a successful wine or vineyard business;
• Explain the different models for profitability;
• Recognize available resources for supply;
• Identify and list the components of a successful financial model;
• Understand and explain financial statements, i.e. cash flow, P&L, balance sheet;
• Analyze the feasibility of an intended project against the costs and reserves identified in a financial model;
• Recognize various tools for the use in a business plan specific for vineyards and wineries;
• Identify federal, state, county, and local regulatory requirements for vineyard and winery operations;
•  Recognize various tools for the use in a marketing plan specific for vineyards and wineries; and
• Critically evaluate the competitive landscape of the vineyard and wine.

V. Topical Outline

Listed below are major areas of content typically covered in this course.

1. Lecture Sessions

1. Course overview, models of success, mission statements
2. Identifying business stakeholders and their needs, resource identification, management
3. Successful winery or vineyard business models
4. Components of a successful financial model, financial statements, financial top three KPI's, feasibility study
5. Components of a successful P&L financial model
6. Structure of the business plan unique for vineyards (Ag) and wineries
7. Basic methods of financial structure for internal/external winery financing
8. Regulatory requirements for vineyard and winery operations at federal, state, county and local level - distribution - agricultural regulations- packaging
9. Regulatory requirements - production
10. Wine business, regulatory, environment – hospitality – ABC

 

2. Laboratory/Studio Sessions