Pages

Friday, September 9, 2016

Starting a Wine Business

A good friend invited his cohort to a villa outside of San Diego that is run as a tasting room and wine production facility. He has been working and volunteering their to learn the wine business for sometime. After experimenting with a few different sweet wines he settled on a few production recipes. He explains his journey to wine making.

He has a fascination for the business and is a little bit of a hopeless romantic. He left his occupation in the past year and is pursuing his wine line with full throttle. He hopes to raise capital and move into pushing sales as much as possible. There are a few caveats he needs to learn.

While the product is one of the most important aspects of the business it is the business itself that will determine success. Many people come up with a great product but don't manage the business well. He will need to ensure that he pushes his sales strongly. Without sales he doesn't have a business!

It should be noted that there are also lots of regulations and rules around wine making. Wisely, this business will be a line within a larger business allowing hi to gain experience with the legal aspects of the business without having to do it alone.

Raising investment capital is a tough business. The operations will need to be solid and the product have market viability. He may need to do some research on his own to ensure this product can obtain a return and how that will happen.

A solid business plan can help with many of these problems. It will cover sales, risks, market, legal implications, operations and much more. While a plan is never perfect it does offer the ability to see how the business will be managed.

For his friends that were invited to the taste testing we had a great time eating BBQ, lounging around the pool, and toasting to one thing or another. Sitting around and discussing life, relationships, and business isn't a bad way to spend a Saturday.

No comments:

Post a Comment