The wine market is among the most successful and profitable ones. During the last 20 years it expanded even more, with anextensive increase in production and export all over the world. That is why wine is a competitive and tough business. Starting a wine company can be challenging and making it successful even more. Few aspects to bear in mind: owning a wine company require regular farm work, complex paperwork, the elaboration of sales strategies, and a lot of study to fully understand the matter and acquire the proper knowledge. Private label wine companies are not easy to manage if you don’t have the right knowledge and a good plan to follow and implement step by step.
Check your finances and make a business plan
First, a considerable amount of money is necessary to start out. It’s a factor entrepreneurs should really take into account. Beginning with a financial check is the proper first step, since the economic return is not coming immediately. You have to make sure to be able to sustain yourself and support your business. After that, you should work on a business plan. It will help you divide your path into steps and prepare in advance, especially when you are ready to sell.
Look for a vineyard
Making and selling wine begin with a vineyard, so you will need a land. For the ones who do not own a field, they would need to look for it and either acquire or rent it. This step might take some time because the soil might have certain characteristics. Also, other factors like temperature, sunlight, irrigation system come into play. Be ready to visit and examine many places before choosing the one you will work on.
Winemaking and the help of experts
Once you have the vineyard, it’s time for the vinification. As stated before, it requires a good amount of knowledge, and also material and equipment. If you are a beginner, you might use the help of experts for the whole process, because information and expertise is key to run a vineyard and a successful business. This phase might also last long before having an amount that is enough to be put on the market.
The marketing strategy
Alongside, you can work on the marketing. This aspect deserves the proper attention in every kind of business. You have to know who your target is, who are you aiming to sell your wine. Defining the customer is fundamental. Having a clear idea will help you to create a strategy to attract them and present your product in a way that let them think it’s unique and it becomes some sort of necessity. Moreover, carrying out your plan, you will have to determine the price of your product. This should take in consideration the costs, the work done, the average price of the competitors and the purchasing power of your wine.
Be aware of the law
In every country there are specific regulations related to the wine industry to comply with. It goes from the production to retail, with peculiar guidance for storage, labelling, etc. There is a lot to understand, study and take in. Make sure you gather information in advance, in order to follow your business plan following the rules,without risking having to stop, waste time and waste money.