Since 2005, micro-distillery numbers have increased almost thirty percent each year. People believe that making money owning a micro-distillery is as easy as paying the set-up fees and putting the liquid in a bottle. However, there is much more to owning a business than that. While many have started, even more have failed.
In order to develop a quality micro-distillery, you must take the time to do it right. While there are many steps that you should take into consideration, here are four to get you started.
Develop a Business Plan
As with all businesses, it is important that you have an effective plan in order before you make your start. Be sure to include anticipated expenses, income, and operational expectations in your plan as well as thorough information on the product your hope to sell.
Obtain the Appropriate Funds and Purchase Equipment
Funding a micro-distillery can cost as little as $10,000 and as much as $400,000. Be sure that you have obtained the necessary funds to purchase your equipment and get started. If you do not have the funds you need, they can sometimes be obtained through donations or loans.
Understand the Laws at the Local, State, and Federal Level
You must be sure to follow all applicable laws at the local, state, and federal levels. Completing paperwork through the U.S. Alcohol and Tobacco Tax and Trade Bureau is necessary to obtain a permit. Do your research to determine which laws apply to you.
Determine a Quality Shipping Company
When deciding on a micro-distillery shipping company, be sure to research ahead of time. Companies should provide you with no restrictions or minimum orders, specialized care, and high quality customer service.
Utilizing These Four Steps to Open a Micro-Distillery
In order to create a quality micro-distillery, it is imperative that you follow these four steps. While these are not the only steps you should take, they are of the utmost importance when you are beginning your micro-distillery business. Talking to professionals and those in your field can help you to make decisions when it comes to your business.
