Interested in small bottled beverage company ideas? If YES, here is how to open your own beverage production and distribution business with no money and no experience. How much does it cost to start up?
How to Start a Beverage Business
Do you want to start a beverage company? Do you need an ideal template on how to start a beverage company ideas? If YES, then this article is meant for you.
The mistake most beverage entrepreneurs do make is as their failure to analyze their market. Some lack the required positioning strategy, and most of them do not have much capital which is the backbone of the business.
However, you will find the following guidelines helpful on how you can start your own beverage company.
Carry Out a Market Research
The first thing to do if you want to start a beverage company is to conduct a thorough market research. It is of great importance for you to carry out a research on the beverage market prior to taking a plunge.
You need to know the market size and the market differences and it is very crucial to know whether or not the market size is increasing and at the same time if the market is a fragmented one or not?
The beverage production is a very competitive business, and so it requires careful planning. The business requires a huge startup capital, and being impatient on this business can screw up your funds.
To avoid this mess, take out of your time to conduct a market survey. Search the internet for any useful news in the beverage production business in your country to have some basic insight on how fair the market is.
Meet with beverages company managers or owners you know and ask them varieties of questions about the beverages manufacturing business. Find out more about the startup capital, the required tools and equipment, the kind of environment that the beverage company should be located, plus any challenges you may come across during the course of starting the business.
Draw your Beverage Startup Business Plan
Having carry out a market survey on the beverage production, the next thing you need to do is to come up with your business plan. The business plan will serve as the foundation on which the beverage company will be built. Draw a comprehensive, accurate and adequate business plan for your proposed beverage company.
This plan will entail all your beverage company details, like how the company will look like, what will be the business goals, aims and objectives, mission and vision of the proposed beverage company, estimated startup capital, operation costs, unique selling point, projected earnings, market analysis, market competition, target audience, marketing strategy etc.
It is this business plan that will guide and direct you throughout the process of setting up and running the beverage business, it will also keep you away from going off-track.
Your proposed beverage company plan will also be useful whenever you approach third parties like investors and business lenders, for the startup or better still, for expansion funding.
So, make sure that your business plan is well detailed, accurate, comprehensive and professionally packaged. In case you cannot draw up the business plan yourself, you can visit any nearby business consultant office to help you out with the planning sketch.
After you must have embarked on a market survey and adequately prepared your business plan, the third step is to look for a commercial location for your beverage company. Since the beverage company is not going to be located on air or on the sea, therefore looking for a nice location that will suit the business isn’t what to be taken with levity hand.
Meet the Necessary Suppliers
It is very necessary for you to find a reputable and reliable raw material supplier who will be supplying your beverage company all that you will need for the beverage production like flavors, carbonators, sweeteners and coloring.
Also, you will need someone who will be supplying you empty containers to fill in the beverage, fuel, and other important products.
Going for your beverage company registration is another important guideline to be put into consideration. In most part of the world, owning a beverage company of any sort, be it alcoholic or non-alcoholic, requires the government licenses and permits.
So, it is very important you contact the necessary and appropriate regulatory agency around you to find out more about the necessary paper work you are required to sign and whatsoever form you are to obtain before kick starting your beverage company.
Since it is obvious and apparent that you cannot singlehandedly run the beverage company; you will need some staff who will work together with you in different positions.
Staff like accountant, machine operators, Public relations officer, packaging supervisors, and host of others depending on the size and need of your beverage company.
However, it is ideal that you hire only those that are skilled and have enough experienced as your working staff, this is so because, the reputation and image of your beverage production business hinges greatly on the competency of your employees.
Market and Advertise your Business
You will need to create awareness of your new beverage company for your prospect and target audience to know of your existence in the market. Being a new company, you will definitely need to promote, advertise and market your company on any available media outlets.
You can market and advertise your beverage company through the television, radio, and available print media, such as distribution of fliers, handbill, construction of bill board etc.
You can also advertise your beverage company via the various online marketing platforms, such as popular blogs, online forum and communities, social media etc. An added advantage is you setting up a website or blog for your beverage company and offers.
In conclusion, if you carefully follow the seven steps mentioned above, you wouldn’t encounter any problem when you are to start a beverage company.