If you're reading this, I'm earning money in some way. I was compensated with money and/or product. Thanks for helping to feed my family. I also may have a financial interest in companies named. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not an accountant, lawyer, doctor, fitness expert, or nutrition specialist. So, talk to a professional before acting on anything you read, watch, or listen to below. Get your own advice and do your own research. Email me at [email protected] with questions.
Creating home-made brews can be a fun hobby that can grow into a professional career. But there are steps that need to be taken to legally establish your business and to give your drink the best chance at success. Knowing how you can start your own craft beer business goes beyond knowing how to brew, though. Make sure you have everything in order before you find a distributor. You can also check out Bar and Drink for more tips and ideas on how to brew beer.
This is most important step that can make or break your brand. This is essentially how your business will self-advertise and catch the eye of potential customers. It’s definitely something that should be considered before filing the correct legal documents.
Your business needs a name, and it must be something that doesn’t currently have a trademark. Using an already trademarked name can result in hefty legal fines. Consult your state’s Secretary of State website and the United States Patent and Trademark Office (USPTO) to cross-reference your potential names.
Judging a book by its cover doesn’t apply apply in marketing. Your brew needs an identifying look to catch the attention of potential customers. A poor design for your product can result in a lack of sales and your company going out of business. Consider proper design choices for craft beer bottles to make your product stand out among the rest.
Once you know your business’s name and brew design, you must form a legal entity for your brewery. Choosing to form a limited liability company (LLC) can protect your personal assets from legal ramifications due to your business.
You also need to file your company’s trademark with the USPTO to ensure no one can legally take your company’s identity. You may already be familiar with this process during your initial phase of selecting your business’s name.
Licensing and regulations can vary from state to state and city to city. You’ll need to do research into the local laws and the requirements about owning and operating a brewery business. Further licenses may be needed if you intend to have a storefront where you serve patrons.
Where is the money coming from to pay for the start-up and initial operation costs of your business? It will require a lot of capital to get you started, and you need to find out where your funding is coming from. It can be from private investors, your own savings, or from obtaining a business loan. For loans, you may need to present a defined business plan explaining all your costs and how you intend to make a profit.
Opening a business means putting in time and effort. You must be okay with taking risks. The chance of failure is always present, but that chance is reduced the more you plan out your business strategy. Know what is required of you to start your craft brewing company and give your business a chance to succeed.
Tips for Helping Your Children Become Financially Smart
Mobile Businesses You Can Take Anywhere
How To Make Your Employees Feel Valued
How To Improve the Efficiency of Your Jewelry Business
Ways To Save Costs When Starting a Business
Industrial Sector: 9 Tips To Create A Safer Workplace
How To Manage Your Finances As A Small Business
4 Ways Medical Distribution Is Changing The Healthcare Industry