Thanks to the internet, it’s never been easier to go into business for yourself. If you’ve got an entrepreneurial spirit and the drive to create your own business, starting a company can be a great opportunity to increase your income, set your own schedule, and more.
Of course, in order to reap the benefits of being your own boss, you need to come up with a product or service that others will actually be interested in. Thankfully, the beverage industry is booming thanks to the rising popularity of more health-conscious drinks, sports drinks, and low-calorie alcoholic beverages. Here are five tips to keep in mind as you plan to launch your own beverage business.
When it comes to going into business as a beverage supplier, your product is a key component of how well you do. After all, the word of mouth your product gets will have a lot to do with how it’s received by consumers, both in terms of flavor and texture as well as the benefits that it offers. White Claw didn’t catch on solely because it was a low-calorie alcoholic beverage great for summertime—it also tasted good! As such, finding a manufacturer that can help you handle the formulation and taste testing of your beverage, as well as packaging and distribution is key.
The best private label beverage manufacturers offer end-to-end service, meaning that from start to finish you don’t have to work with any company other than your manufacturer. This cuts down on communication and shipment delays since you have one source of truth for all things related to your new beverage business.
Aside from slight alterations in flavoring, what’s the difference between Sprite, 7-Up, and Sierra Mist? Branding! Good branding helps to set you apart from your competition, while simultaneously offering customers a window into who you are as a business. Some brands even work to position themselves as “for” a certain type of consumer, so if you’re just starting out, playing up your niche and target demographic can help other customers see themselves drinking your beverage, too.
As you start to get your beverage manufactured, you’re going to want to get in touch with local businesses that can stock you on their shelves. After all, while it’s possible to drive business through eCommerce, having a footprint in brick-and-mortar stores is a great way to keep getting your name out there. When you take these meetings with big-name distributors (or even investors!) it’s crucial that you dress the part of a successful business leader. That means a professional suit and tie for men and a pantsuit or nicer dresses for women. Even though your product should speak for itself, many judgments are made based on appearance, so invest in a few professional outfits so you can look the part at important meetings.
People are online more than ever, making social media an ideal way to market your drink to customers. Social media marketing allows you to use compelling imagery, video, and text to sell your product, and offers a great ROI, too! Best of all, you can use a wide range of targeting tools to identify specific demographics or interests that you’d like to appeal to on platforms like Facebook or Instagram, ensuring that your ads are received by the audience you want to see them.
If you know you’re interested in getting into the drink business but aren’t sure what direction you’re interested in taking, a trip to your local liquor store can be a great way to survey the industry. This can serve as a source of inspiration and ensure that you aren’t trying to go to market with a product that’s already out there, too. Even if you just get inspiration for a color scheme or flavor you hadn’t considered, the trip will be well worth it.