starting your distillery business. plan to succeed time to plan make mistakes on paper research...

Starting Your Distillery Business

Success in a Bottle

Creating Your RecipePlan to succeed

Time to plan

Make mistakes on paper

Research industryExamples of successExamples of failure

Research Your IndustryInterview 5 to 10

existing distilleries

Research Associations

RMA & NAICS comparisons

Meet local research librarian

Ingredients for SuccessLike great

entrepreneurs you need to create the vision of success

Who will buy?

How often?

How soon?

At what cost?

Profit per customer?

Lingering Effects of Prohibition

TTB – Fed

LCB – State

City/County License

Tenant Improvement Permit

Revenuers, Revenue, & Real Estate

Retail lives and dies by location

Study traffic flow, look at foot traffic

Parking availabilityZoning and UsageArms length governing

body most strictTalk to Chamber, Main

street ProgramsVisit nearby shops, talk

to owners

Label of SuccessStrategy not and ad

campaignDirect market to your

nicheDevelop marketing

pieces/toolsLogo, Company ImageBusiness cards, letter

head, flyersConsistent image, brand Web site

Escaping the RevenuersCreate record keeping

systemEnvelopesQuickbooksGAAPClasses at collegeForm of doing

businessSeparate records

Looking Back, Moving Forward

Looking BackPlanningResearchVisionMarketingRecord Keeping

Moving ForwardMake Money?Funding?BankingResources

Sta

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osts

Sta

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osts

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osts

Packaging Costs

Sou

rces

and

Use

s of

Fun

ds

Monthly Costs of Goods Sold

Income Statement Year 1

Cash Flow Statement Year 1

Break Even Analysis

Get Funded

Good Record Keeping

Good Accountant

4 C’s of CreditCash FlowCredit ScoreContributionCollateral

Develop Relationship with Bank

Deposits and loans in the

same bank

Separate personal and

business accounts

Merchant Services

Line of Credit

Grants are for non profits

Cash is King

Take advantage of ResourcesChamber of

CommerceCity HallScore/SBASBDCBig Bend Community

College

www.greenriver.edu/businesscenter

Summary

Take Time to Plan

Play by the Rules

Market Strategy

Know Your Numbers