Thursday, May 13, 2021
Like many everyday and in-demand goods, the beverage niche is already well-occupied by international brands. In other words, there’s plenty of competition that can complete with them starting from scratch. However, just because there’s competition doesn’t mean that there isn’t room for specialty, small, batch, and other premium offerings sought out by customers who’re tired of the same options. For those ready to jump on the opportunity, we present a step-by-step guide to starting a beverage company.
The first step to any solid business plan is to understand the niche it will compete in. Simply selling “beverages” is too vague and doesn’t target a particular audience. Are you interested in selling drinks to health-conscience people? Or perhaps you wish to brew quality coffee beverages? Do you want to target vegans? Or possibly collectors interested in small brewery alcohols?
All these different items have very specific audiences that can be defined through demographics. Understanding who your customers are will help you fine-tune your product offering to be highly appealing rather than generic. The more unique a product is, the better chance it has to be found and stand out from competitors.
The success of a brand is not determined by clandestine factors buried deep in the inner workings of the internet. Rather, it takes careful planning and hard work—much like the designing of your goods according to your target audience. It’s time to refine the rough idea of your business’s offerings into a concise vision and personality. What angle makes your beverage so special, so worth purchasing?
Besides tasting good, you’ll need to design your brand based on what you’re trying to say through your product. For instance, if the item in question is a line of health drinks targeting athletes, a common personality behind major brands is often focused on self-improvement and personal power. It’s important to understand what your competition’s angle is and understand what you can improve on. For instance, your brand might come from a more inspirational angle and appeal to young and upcoming athletes.
With the concept work out of the way, it’s time to deal with the more practical side of things. It’s important to investigate your state’s rules on selling different types of beverages. If you plan on starting at a larger scale, you’ll likely need to act under multiple states' regulations. In addition, attaining the necessary licenses and filing the business is a must.
Next, your resources have to be identified. No step-by-step guide to starting a beverage company would be complete without mentioning sourcing ingredients and a steady supply of packaging from glass bottle distributors. Finally, funding will need to be raised through savings, crowdsourcing, or by securing investors.
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