If you’ve been thinking to start your distillery, there’s hardly been a better time than now. Craft liquor popularity has gone up, and it is now easier than ever to get a foothold into the industry. Still, you need to know the right way about how to go about it. Here are 5 tips of starting your distillery project and avoid common pitfalls.
Be Ready To Commit To Your Craft
Owning a business requires extraordinary commitment. To become a successful entrepreneur, you must be ready to work the entire length of the week. You should be ready for long, sleepless nights thinking of new ideas and looking for solutions. Before you start, make sure you have sufficient determination to go the whole hog.
Get A Distiller’s Permit
Distilleries, breweries, and other businesses dealing in alcohol manufacture and sale involve a lot of legal red tape. You must therefore first obtain a permit from the relevant government body. Besides, you must be approved for a liquor license as well as other permits that may be necessary. You won’t make much ground in terms of opening your distillery without the right paperwork.
Research Your Product Extensively
In anything that you do, you need to be thoroughly knowledgeable if you want to the best in the game. Try as many liquor samples as you like, check out what other distilleries are doing, and be on the lookout for any new development in your industry. You should always be eager to expand your knowledge on the business and practical end of things.
Have A Unique Selling Proposition
What can you do to make your distillery stand out from the crowded competition? You could be thinking of incorporating ingredients that have never been used in the mix or use an inventive distilling method. Another idea could be going for people who don’t take a gin and making the liquor they can enjoy. Whatever your approach, make sure you always have a clear purpose.
Look for Funding
You are also going to require a good deal of capital to start a successful distillery. Things like applying for a license, buying equipment, hiring help, and leasing an appropriate property, will all require money. You need to approach outside investors to help you raise capital. In general, setting up a distillery will require $350,000-$500,000.
Opening a distillery isn’t the complicated stuff that most people would have you believe. With the rise of the popularity of craft liquor, it is easier than ever to start your distillery ptoject. Research your market thoroughly to have all the information at your fingertips. Licensure is of critical importance, so you will have to make sure you have all the required paperwork.
