Taking control of your own Bond has many benefits for a drinks business. The cost savings alone can be in the hundred of thousands, not to mention the additional revenue opportunities that can present themselves.
However, having responsibility for your own Bond can be quite daunting to a lot of drinks businesses. So, if you’re in two minds about starting your own Bond, here are our top 3 benefits as experienced by a few of our customers, to show you how it can benefit your drinks business:
1. Cassidy Wines use their vacant warehouse space as another commercial channel
Renting out your warehouse space to partners, and even competitors can be a real revenue generator. After integrating our bonded warehouse software, Cassidy Wines saw an opportunity to lease some of their warehouse space to other local businesses. As it turns out, this decision has opened up an additional revenue stream for their business and contributes positively to their overall revenue goal.
An added Bonus to having their own bond is using our Bonded warehouse software;
“Not only does the bonded warehouse software work really well, it’s easy to use and you don’t need much of an IT background to make it do everything you need it to. Even with an average stock holding of over 30,000 cases of wine, it’s simple for us to locate and track products coming into and leaving our warehouse. We can generate the reports that we need with just a few clicks of the mouse. I’d definitely recommend Gaina’s bond software, even to our competitors!”
Ray McTague, Operations Manager, Cassidy Wines
2. JC Kenny can lower their purchasing costs for goods that will exist in Bond
For JC Kenny, managing their own Bond opened up a whole new world of wines. Having the ability to store goods in the Bond allowed them to purchase from outside of Ireland and buy directly from the Vineyard. This is not only more cost efficient than buying from a reseller, it also means that they can import in larger quantities, further lowering the purchase costs of goods.
“The Bond gives us the flexibility to buy in larger batches and sell in smaller quantities as we don’t have to pay the duty on goods until we’re ready to sell. This frees up our cash flow so we can place larger orders at a better price”
Aileen Long, JC Kenny
3. Robb Bros Wines predict savings of £100k, year on year.
Managing your own Bond has a huge financial advantage, not least is the costs savings in not having to pay a 3rd party for your paperwork and storage. Something that Robb Bros Wines can attest to after saving an estimated £100K, year on year from implementing our bond software.
“By managing our Bond ourselves, using Gaina’s software, we have estimated cost savings of £100,000 per year!”
Jim Lynas, Robb Bros Wines
Why not read the full Robb Bros case study here.
The above cases are all real customers who we have made the decision to manage their own Bond. In addition to these benefits, our Bonded warehouse software enables them to:
- Track goods between multiple EU countries with European bond movement reporting.
- Run a bond over multiple locations by tracking goods between a number of bonded areas with under-bond warrants
- Free up cash flow that can be invested elsewhere in your business through automated picking.
- Operate within your legal parameters by assigning monthly thresholds for your bonded stock.
As you can see operating your own Bond with our Bonded warehouse software can help your business in many ways, from reducing your cost per purchase, freeing up cash flow and ultimately ensuring your compliance with customs reporting.
If you’re thinking about getting your own bond, get in touch with us today. We have over 35 years experience in helping customers set up their own bond and we pride ourselves on our software’s ease of use and speed of implementation. In fact, check out this case study from Robb Bros Wines who (in addition to their predicted £100k per year savings) had their bond software implemented in just 5 weeks!
