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Things You Need to Know About Starting a Wine Business

The wine industry has seen a tremendous upswing in new entrepreneurs hoping to get into this “grape” business. Of course, that is making the winemaking field all the more competitive. But, since you are obviously interested in joining the surge, these are the things you need to know about starting a wine business.

But before you invest any money in this venture, click here. You will undoubtedly need Park View Credit Review’s help. Since they offer financial services and are based in wine country, California, they are an excellent asset for your new business. They can help you boost your credit scores which will make securing a space and funding for your new wine business a whole lot easier.

Things You Need to Know About Starting a Wine Business

Understand What You’re Getting Into

If you are dreaming of establishing your own vineyard, you should understand what you’re getting into. You will need land, the ability to plant and harvest and you will have to bottle the wine yourself. That is probably more than you are ready to delve into. Especially since land is expensive and the weather is often challenging.

On the other hand, you could always buy your grapes from another source. However, you cannot negate the expense of marketing, distribution impediments, and the veritable cornucopia of global competitors. You will quickly understand that this is not a simple business to jump into. Make sure you have a long-range concept, a stick-to-it-ness that is unwavering, some useful professional advice, and deep pockets.

Read more about getting into the wine business.

The Best Advice

The best advice someone who has already tried and survived in this industry could give you is, “find your niche.” Remember, we told you that the wine business is intensely competitive. So, there has to be something special about your brand that sets you apart from all the other people in the industry. Consider creating your own unique liqueurs and brandies. Even ciders are a good bet.

This advice could truly span the spectrum of all kinds of entrepreneurial endeavors. But it is particularly important in this arena as there are simply too many “ordinary” wines available to the average person. Notice that there has been an upswing in blueberry and strawberry wines. Try your hand at various fruit flavors and combinations.

And, here are some additional niche ideas to get your foot in the door:

1.       Vineyard tours

2.       Tasting rooms

3.       Bottling

4.       Distribution

5.       Retailing

6.       Marketing

Some Interesting Statistics

Getting involved in the wine business should spur you to further investigation. That is why we thought you would benefit from some interesting statistics about the wine industry.

·         In the US, wine sales have been recorded as reaching 600 million gallons.

·         Exportation of wine reaches 79 million gallons.

·         Wine sales bring in a whopping $500 million in revenue each year.

·         There are vineyards and/or wineries in 49 states.

·         That makes 2000 wineries within the US.

·         In 2014, the US beat out France for the record in wine consumption that year.

·         Wine consumption is believed to be rising at a rate of about 11%.

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Know the Competition

Before we close, we want you to be aware of your competition. This list offers you some of the top brands in the wine industry:

1.       E&J Gallo

2.       Earl Stevens Selections

3.       Sharp Cellars

4.       Seven Sisters

5.       Brown Estate

6.       Theopolis Vineyard

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