It goes without saying, but one of the best and most lucrative businesses out there is all about food. Food is a constant need, and you’ll never run out of customers. In case you’ve become a successful restaurateur or an owner of a mom-and-pop burger stand, you might like to consider branching out. This time, it’s going to be about drinks.
Starting a beverage business requires almost the same set of principles you used in building a food business. Here are some tips that will give you a head start.
Alcoholic or Non-Alcoholic?
This all boils down to the market you’re going to target. If you want it to be wholesome, you can always go for fruit juices or flavored water. If you’re targeting older audiences, alcoholic beverages will surely be a hit. At this point, you need to decide if you’re going to make your own beverage or resell. Weigh the pros and cons before deciding.
If you’re making your own beverage, you need to have a recipe. The recipe should be patented if it’s a unique product in the market. You’ll also have to set up a manufacturing facility and hire people, ranging from chemist to production operator. On top of that, you’ll need to come up with a streamlined logistical process to properly manage supply and demand.
Once you’re done with all the hard and technical stuff, it’s time to create your marketing campaign. First, you need to come up with a brand, which encompasses the logo and strapline. This will appear on the beverage labels. The launch is crucial to gaining traction with the target audience. Other than print, TV, and other conventional marketing media, you need to harness the power of digital.
Starting a beverage business involves a lot of details. You can always consider getting a partner and investor to make this a reality.