Wine is one of the most popular beverages in the world. It sets the mood of a dinner party, creates romantic moments, provides social outlets, and is used in dishes across lots of countries. Starting a winery business, therefore, seems like a great idea because there will always be a market demand. If you are a wine expert, enthusiast or simply a business veteran looking for a new venture, here are the top things to consider before you go down this path. Shockingly, it’s not all about the amount of funding you’ll need for the new business or the projections.
The Options Are Varied
Your starting point will depend on how much money, time, and commitment you have to this business adventure. There are several routes available to you, and what you pick will dictate what you can do.
Your Own Vineyard
To create a business that is truly your own, buying a vineyard is the best option. You could opt for a land purchase in a prime location and grow from scratch, but if you want to dive in and get making brand standard wine in a shorter timeframe, then purchasing a pre-established vineyard is the best bet. If you opt for this choice, make sure you take on board the following.
Size is Important
How much land you buy will be determined by what’s inside your business plan. If you want to provide wine to local restaurants and retailers, then you won’t need as much as one that has global reach. This is the difference between producing 100 bottles of wine and 50,000 each harvest season, and it will be an important distinction.
Permits and Licenses
There will also be an inevitable need to purchase and secure a permit or license. There will be a requirement to register with official bodies such as the FDA, and each state has difference policies on liquor licenses, so do your research.
Securing Equipment
Of course, there can be no wine without the right equipment to bring it to life. Therefore, learning what you will need and how to maintain it is essential. You will need things like a fermenter container that holds the wine while it matures, and this will need an efficient solution for tote cleaning too to properly sterilize and protect the product.
You Will Need a Business Plan
As mentioned above, having a business plan is the only way to establish your needs. This should include a detailed budget accounting for all the costs and equity, alongside a comprehensive account of intention and projected capacity. The first year of your winery will be the hardest because this is when you are striving to become established and figure out if this goal is a viable and sustainable one.
Establish Partnerships
Wherever you decide to open and get the ball rolling, there will be a need for partnerships. Suppliers, resources, and customers are big driving forces behind getting you up and running and establishing a proper brand rapport. Find reliable partnerships, and this will take you where you need to be.
Creating a winery business is a fun, lucrative way to explore a hobby or passion. You must get to know the industry and adhere to regulations to ensure your brand is the best it can be.