Wine is one of the most popular beverages in the world, on par with such staples as coffee and beer. It makes perfect sense, therefore, that the number of wineries in the US has been climbing over the last decade. Aside from providing a steady revenue stream, owning a winery is a great way to share one’s passion for wine.
Opening a winery or vineyard is not something that can be achieved overnight. It will require patience, persistence, and an understanding of how to avoid certain legal and financial mistakes along the way. That said, it’s a feat that anyone who’s willing to put forth the necessary time and effort can achieve.
In this article, we’ll outline some crucial steps – including securing a vineyard loan – for starting a wine business in 2020.
Owning a Wine Business in 2020: Where to Start
Like any business, starting a winery or vineyard will require careful and deliberate planning. For this reason, any aspiring wine business owner should make it a priority to clearly articulate their business goals.
Here are a few examples of questions to ask yourself if you’re considering starting your own wine business:
- Will I need a state license in order to own a wine business?
- Depending on where you live, you may need one (or more) licenses in order to sell wine within state limits
- Has my wine business been registered as a food facility with the FDA?
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- Regardless of location, you will need to plan on registering your business with the FDA before selling any beverage products.
- Am I prepared to submit my paperwork to the Alcohol and Tobacco Tax and Trade Bureau (TTB)?
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- In order to be a legal vendor of alcoholic beverages, you’ll first need to secure a license from the TTB. This can be a particularly time-consuming step in the process, so it’s best to start sooner rather than later.
How Vineyard Loans Can Help
In addition to patience and persistence, founding your own wine business will require a significant amount of start-up capital. There are numerous expenses to account for (shipping, labeling, production, etc.) which means it’s crucial to have a financing strategy. Thankfully, vineyard loans can provide a fast and effective solution.
Securing a vineyard loan is easy. All that you need to do is define your business plans, organize your credit information, and contact a reputable lender. From there, a loan expert will be able to pair you with an affordable loan option to get you started.
Start Applying for Vineyard Loan Options Today
Are you ready to start turning your dreams of owning a wine business into a reality? If so, the experts at MSF Agriculture are standing by and ready to help! Contact our office today to learn more about our services and how we can connect you with a vineyard loan.