A vodka business plan, surprisingly, is an increasingly common document these days. Specialty vodkas are all the rage, and there are several upstart ventures – some with celebrity backing – jockeying for recognition right now. If you need a business plan for a new type of vodka, you have some work cut out for yourself. First off, what is it about your vodka that makes it special? What ingredients, packaging, or backing will help you succeed in the tight liquor space? This is an ultra-competitive and highly concentrated industry where the liquor titans control huge market share, so to carve your niche, you will need a business plan that gives confident, researched answers to the following questions:
• Who are your target customers? No matter how obvious it seems, you need to know!
• How will you get your product distributed?
• What will the retail price point be?
• Where will it be distilled/bottled?
• What are the timelines for start-up, launch, and break-even?
The business plan needs to detail the capital requirements and make it clear that you know what regulatory and permitting hurdles you will face. You should also profile the chief competitors, which are most likely the major vodkas in the space and any smaller liquor companies that play to the same markets or have a similar branding approach. Lastly, include a marketing plan that shows how you will get your product into the hands of consumers. What are your best channels and how much can you spend in print, on point of sale displays, on promotions, etc.? The business plan should also have a full pro forma financial model. Need help with these things? Call MasterPlans. We have written the business plans for several start-up liquor companies and we know how to get it done. The call and consultation are free: 877-453-2011.
