All your friends say your craft beer is good enough to sell. When you receive support to go into business, it’s tempting to jump in headfirst. Even if you make the best beer in town, your business won’t succeed without the right financial planning. Start with these tips for opening a small-town microbrewery to see if you’re ready to own a bar and restaurant.
Determine Start-Up Costs
Before starting any type of business, you should consider your financial situation. It costs money to make money, and microbreweries require a lot of space, equipment, and insurance. Before diving in, make a list of all your expenses, and work toward saving money or getting a good loan.
Create a Business Plan
Make sure you can run a successful bar when you create a business plan. It should include your goals and plans for increasing profits while paying off debt. Other things to figure out while developing your plan include:
- Target audience
- Business name
- Business logo
Purchase Space and Equipment
One of the biggest expenses involved with opening a microbrewery is rent. You’ll need a large space to accommodate your brewery. Much of the equipment for brewing large quantities of beer is large and expensive. Whether you display them or keep them in the back, you’ll need different types of beer fermentation tanks. While you’ll likely need both, you should understand the difference between brite tanks and unitanks so that you use them correctly.
Attain Permits and Licenses
In addition to registering your business, you must attain a license to sell liquor, a brewer’s bond, and a federal brewer’s permit. Without these, you can’t legally operate a bar and restaurant. Further, you should acquire business insurance. The law requires it, and it can protect you from financial ruin.
Remodel the Interior
You want your brewery to stand out from the rest. Especially when operating in a small town or remote area, you’ll have a better chance of attracting customers from near and far if you have a theme or niche. Consider your target audience and what they would most enjoy, whether it’s sports or family seating.
Starting a business isn’t supposed to be easy. It takes hard work and passion to achieve your dreams and build a reputation that people will trust. With these tips for opening a small-town microbrewery, you can successfully start up a bar and restaurant that locals will love. Start planning your business today.
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