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Starting Your Distillery Business
Success in a Bottle
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Creating Your RecipePlan to succeed
Time to plan
Make mistakes on paper
Research industryExamples of successExamples of failure
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Research Your IndustryInterview 5 to 10
existing distilleries
Research Associations
RMA & NAICS comparisons
Meet local research librarian
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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?
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Lingering Effects of Prohibition
TTB – Fed
LCB – State
City/County License
Tenant Improvement Permit
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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
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Label of SuccessStrategy not and ad
campaignDirect market to your
nicheDevelop marketing
pieces/toolsLogo, Company ImageBusiness cards, letter
head, flyersConsistent image, brand Web site
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Escaping the RevenuersCreate record keeping
systemEnvelopesQuickbooksGAAPClasses at collegeForm of doing
businessSeparate records
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Looking Back, Moving Forward
Looking BackPlanningResearchVisionMarketingRecord Keeping
Moving ForwardMake Money?Funding?BankingResources
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Sta
rt U
p C
osts
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Sta
rt U
p C
osts
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Sta
rt U
p C
osts
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Packaging Costs
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Sou
rces
and
Use
s of
Fun
ds
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Monthly Costs of Goods Sold
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Income Statement Year 1
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Cash Flow Statement Year 1
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Break Even Analysis
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Get Funded
Good Record Keeping
Good Accountant
4 C’s of CreditCash FlowCredit ScoreContributionCollateral
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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
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Take advantage of ResourcesChamber of
CommerceCity HallScore/SBASBDCBig Bend Community
College
www.greenriver.edu/businesscenter
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Summary
Take Time to Plan
Play by the Rules
Market Strategy
Know Your Numbers