Several business opportunities are available to any serious-minded aspiring entrepreneur who truly wants to make good money to pay his or her bills and live the kind of life they have always dreamt of. One of the businesses that you can conveniently start in any part of the world that already has an existing market is a distillery.
A distillery is a depot or place where spirit (alcohol/liquor) is produced commercially. Although there are various brands of spirit in the market, if you are creative with your branding and packaging, you will surely attract your own fair share of the existing market. Aside from the flavor and packaging, there is no difference in the various spirits brands on the market.
Depending on your financial capacity, you can successfully start a distillery with moderate start–up capital. Starting a distillery can be challenging if you don't have experience in this line of business, but if you are hardworking and willing to learn, you will find it a bit easier. The profit you stand to get from this type of business largely depends on your marketing and sales strategies.
Now let us quickly consider 7 steps to follow if you want to start your own distillery from scratch and then build it to profitability within the shortest time frame;
Creating a Distillery – Sample Business Plan Template
1. Conduct Your Feasibility Studies
One of the first steps that you take if you want to start any business is to go out there to conduct your own feasibility studies; you need to get first-hand information about the business you intend to begin if you genuinely want to make a success out of business. When conducting feasibility studies, gather the information that will help you properly analyze your strengths, weaknesses, opportunities, and threats and face such a business.
2. Write Your Business Plan
If you can effectively conduct a feasibility study, it will make writing a good business plan easier for you. This is so because most of the facts and statistics you need to register your business plan have been gathered. Your business plan should be more than just a document for starting a business. Still, a blueprint that must guide all your business actions should contain your goal, how you intend to penetrate the market, your financial projections, and your succession plan if you want to build a business that will outlive you.
3. Register Your Business and Obtain the Necessary License and Permit
Once you are done with writing your business plan, it means that you are truly set for business, and the next step that you should take if you want to legalize your business is to choose a business name that you want to operate with and then approach the secretary of your state to register the business name. The nature of the business you are about to start requires obtaining special permits and a business license before beginning production. As a matter of fact, your distillery will first be inspected by relevant authorities before you can be issued a permit to go into production. It must meet the required health and safety standards.
4. Lease a Facility for Your Business
You would need a decent facility for your distillery, a facility big enough to fit into the picture you have in mind for your distillery. Please note that your facility will first be inspected by health officials from the State Department of Food and Drugs and officials from the Fire Department before you can be issued a permit and license to start operations. So, ensure your facility is in tip-top shape before obtaining your license and permit.
5. Hire Competent Staff
Aside from the production and administrative staff, you would need to kick start your distillery business, you would also need a competent sales team to help you break into the already saturated spirit (alcohol, gin, champagne) market. You can contract your first recruitment to recruitment agencies if you don't have an existing HR structure.
6. Pay Attention to Your Branding and Product Packaging
Undoubtedly, coming into this industry as a newbie is a challenging task. You are expected to hire experts to help you with your branding and product packing if you want to compete successfully with the existing giant players in the market. If you conduct a thorough feasibility study and market survey, you will be able to discover the most accessible means of penetrating the market with your products.
7. Market Your Spirit
The only way you can make money from your business is to market your products or services to those who need them and are willing to pay for them. Your marketing strategy will go a long way to determine the income you will generate, so ensure you go all out to make noise about your product. There may be other spirits (gins, champagne) in the market, but if you are smart, you can quickly sell your product and get people to crave it. Ensure you have the correct branding, packaging, and flavor; you will struggle less to make sales.
Over and above, if you are determined and hardworking, you will surely make huge returns from your distillery business, and your products can become the most preferred in and around your city or country.
0 Comments