Write Your Business Plan
Step 1: Write your business plan
Carefully planning out your business model, budget, and fundraising structure is necessary to put your brewery on solid footing.
Early business model decisions include:
- Deciding whether you will be a brewpub or a production brewery
- Deciding whether you will serve food, and
- Planning whether you will distribute immediately or wait until you have exhausted the local demand for on-site sales.
Early budgetary decisions include:
- Planning how much money you can dedicate toward rent, your build-out, and equipment,
- Expense planning for a professional to help with your various legal needs,
- Realistically estimating revenue and expenses after opening, and
- Setting goals at various checkpoints going forward.
Early fundraising decisions include:
- Deciding how much capital the founders will dedicate toward the business,
- Determining what type of equity and voting interest investors will be entitled to,
- Identifying which potential investors the company will pursue, and
- Planning for what type and size of loan the business will seek out.
Here is a helpful article from my friends at Craft Brewing Business with more tips on writing you business plan. Also, the Colorado Small Business Development Center Network puts on business plan writing workshops every two months or so (see here).