Registration Opens For 3rd Annual Intercollegiate Wine Business Invitational
Wine and Hospitality Student Teams vie for the Virtual Best Wine Brand Business Plan
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.
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:
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/
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.