Today’s post is about funding your dream distillery. I am assuming you are starting from scratch, more or less.
Money is the problem or I should say the lack of money is the problem. How are you going to fund your distillery?
Your options:
You have money: You, or your family, are wealthy or you have money in savings.
Investors: You are starting your adventure with capital from outside sources.
You and Investors: Your money plus outside money.
Commercial Loan: Dealing with the banks. (So much fun)
There are many costs associated with opening a distillery. Depending on the scope of your distillery the costs will vary.
Except for your personal money, any outside money will need to be paid back (you will actually want to get your initial investment back, too).
Now that you have solved the opening costs problem, you will get to take on the cash flow problem. So you will need enough cash to keep the doors open until you start making money, also take into account ownership. It may be your dream and your sweat equity but in the end who has all the shares? If you give up too much control you could lose control of your business (it happens).
Cheers!