Tag Archive: Wine Business

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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Setting Foot in The Wine Business

Entering and prevailing in the Wine Industry is the fantasy of numerous business entrepreneurs. The business is troublesome and extremely aggressive which makes working in it harder than general occupations. There’s a high amount of risk that accompanies venture, the paper work involved in it can be complex and complicated and you’ll most likely face loss in the early years. Be that as it may, once the cogs are in movement and you realize what you’re doing, the achievement will be exceptionally fulfilling. The following are some essential tips that will help you in wine business over the long haul.

“There are individuals getting into the business that expect the vineyards or wine stores to keep running as property and prosper without much work. They are in for the greatest surprise.” Says Thimios Laourdekis, founder and owner of Wine Outlet.

He says it can be expensive to run a wine store or winery and the opposition is so huge it’s simple for a small business to be overwhelmed by the major wine companies.

Setting Foot in The Wine Business

Enough Money Starting Out

Most importantly you’ll require a good initial investment to begin with. This is the place many individuals fall flat since they think little of the expenses of the business. Along these lines you’ll have to lay out a spending plan for a couple of years before you start to see gains.

Selling Out

In the event that you do make it and your business is on its feet you have to know precisely what to do with it. Typically, you’ll need to pull in the consideration of greater organizations which will help you with offering and distributing the wine. This can be wholesalers to marketing companies and even restaurants which will likewise promote your store or brand. This isn’t a simple step and you should be cautious that you don’t get a bad deal.

One way to make your wine bar appear attractive is to put in interesting entertainment options like television, gaming consoles, snooker etc. You can even promote your brand through mediums like radio ads and even video games. Get a small scale video game made, hire video game voice actors and instruct them on how they can promote your brand through the game. Make sure you pick the best voice actors who offer competitive rates with unbeatable quality.

Paperwork Complications

This is a standout amongst the riskiest and also the boring parts. You have to manage the paperwork, and very carefully so. Delivering or offering items, for example, liquor and wine contingent upon your nation can be a testing task with regards to lawful matters. There are various licenses and consent you’ll require. Likewise, now and then your items should be investigated and endorsed first.

At long last, your item won’t offer without anyone else’s input. You’ll have to promote by means of various channels with a decent marketing plan. Having an online store parallel to your physical store has proved to boost sales. Overall, it’s a complex business that can be overpowering. However, it can likewise satisfy you extremely and effectively, particularly if it’s your dream.