Have you ever had a thought about opening a distillery and whiskey bar? Craft distilleries are taking off in the business world, but there are some things you should know before opening one. Explore these tips for starting your own distillery and whiskey bar.
Begin With the Fundamentals
Take time to understand that beginning a business is a scary venture, but it can be gratifying to create something yourself from scratch. You’ll most likely be working seven days a week for the foreseeable future.
Distilling is an incredibly time-consuming business, plus events that are perfect for building brand awareness, such as consumer shows and fairs, happen on the weekends. There are so many fantastic products on the market. Just because you believe yours is smoother, more balanced, or has excellent branding, doesn’t mean it will take off right away. Craft distilleries need significant time invested into them to become “something.”
Learn All About Whiskey and Distilling
Another tip for starting your own distillery and whiskey bar is to learn and understand the business. Learn as much as you can about the history of whiskey. What makes it great? What makes a great distillery? Take time to understand whiskey cocktails. Make them over and over again until you like how it tastes.
Visit other distilleries and talk to the owners regarding what they’ve learned and mistakes they’ve made along the way. You need to have passion for what you’re doing. It will make a massive difference in the success of your distillery.
Secure Funding
One of the most challenging parts of any venture is finding the funding. You’ll have difficulty with banks because they don’t appreciate how small the margins are. Venture capitalist funding and finance institutions can be better ways to expand your operation.
Let’s take a look at crowdfunding. This option grows your fanbase without having to give up equity. It’s an attractive option.
Another option is private investors. Raise money from family, friends, or pitch to an angel investor who wants to take part in your distillery after you pitch them the idea. This route is prevalent among people trying to open up a distillery.
After you’ve secured your investments and you’re getting ready to open, don’t forget about the ambiance. Create candles that smell like your whiskey to sell with a set of custom matches. The look, the feel, and the smell are all reasons why people will continue to visit your distillery and drink your whiskey.