1. First of all, the most important thing is to know to whom you will sell
your product before starting a beverage company. You have to see the niche market and you have to understand
the consumer. Yes it is good to have a great idea, but will anybody be interested in it?
2. So you know your niche market and you know who will buy your product?
It is a good start, however, second most common mistake is to copy the
market leader. Do you want to manufacture a standard taste energy drink
with different logo? We think it’s wrong! You have to think different, act
different and be different.
3. Your product has to have a soul. You have to think about it like a real
human being. You have to know what does he like, what kind of music does
he listens to, what does he do, to which night clubs is he going and etc.
. You have to create a real person. By that I mean that you have to spend
as mush time as possible for marketing strategy and packaging design. Your
product has to be different and eye catching.
4. You have to know where, when and how you will manufacture your product.
You have to know the factories, minimum order quantities, pricing and etc.
. Maybe it is worth it to find contract filling service provider who has a
better knowledge in this field before a start of beverage company? You will save a lot of time and energy
which you can spend on your marketing and distribution plans.
5. It is very important to think about your product distribution and
storage. Are you planing to take care of it by yourself or are you planing
to outsource?
6. How are you planing to distribute your product? Will you use services of local distributors or are you planing to do it by yourself? You have to find a solution for this because sometimes it is worth more to use services of distributors and to think only about sales and marketing.
7. Do you have a financial plan? Do you know when you will need some extra cash to manufacture your product? Do you know when is your break even point?
8. Do you want to start with a large quantity or do you want to lower your risk? Maybe you want to test the market with a lower quantity? It is always smart to test your product, however, the price for the product will be higher. You have to understand that.
9. What are your goals? How many liters of you beverage are you planing to sell? If your plan is not going the way you wanted, when you will stop the project?
10. Last but not least. Why are you doing this? Do you want to be rich or do you want to test your idea? Is it important for you or not? Beverage business is a tough one, so you have to be ready..
