Four tips for setting up a small beverage business

According to Research and Markets, the estimated global beverage market was worth around $1568.39 billion in 2021, and this is expected to grow over the next few years.

Given how fundamental beverages are in society, there’s no wonder that so many new beverage businesses are merging. If you have a fantastic idea and want to start your own small beverage business, continue reading below.

Put a launch plan together

The only way your beverage will succeed is if you’ve got a solid plan in place. Your launch plan will lay down overall goals, strategies, market analytics, forecasts, and funding. As well as keeping your small beverage business grounded, it will help to attract investors and business partners.

Perfect the concept and drink category

Most beverage companies start with a simple idea for a delicious product, and yours is different. However, to succeed, it’s important to fully conceptualise the drink and build it into a product worth centering a business around. This process will involve meetings with industry experts and market research.

The beverage market is enormous, which is why drinks are split into different categories. Before you start manufacturing prototypes and spreading the word, you need to fully understand where your business aligns with the rest of the industry.

Are you making sparkling water, energy drinks, health drinks, coffee and tea, alcoholic beverages, or soda?It might not feel important, but knowing the category will help when it comes to future marketing and branding.

Processes and testing

Creating the perfect drink relies on a scientific process and the perfect blend of ingredients, so you may need to lean on some industry experts to get the manufacturing process down. Once you have a prototype, it’s important to test it in the market to fine-tune the recipe and manufacturing process.

When you’re happy with the prototype, it’s time to source the best ingredients while making sure you stick within your budget. This part can be tricky, as you don’t want to overstock ingredients, but you don’t want to find yourself unable to meet unforeseen demand.

You also need to determine how you will manufacture your drinks, whether you’ll do it in-house or outsource.

Each option has pros and cons, but it’s important for you to understand the manufacturing process. For example, you need to understand the importance of using food-grade stainless steel processing tubing. After all, it’s your responsibility to make sure your customers stay safe. 

Work on branding

Branding is the way your business comes across to your customers. It includes everything from a memorable logo to providing consistently high quality customer service. To make sure you get the branding right, spend time getting to know your audience, and then build around their specific needs.

The road to finding success as a small beverage business won’t be simple, but it will be much easier if you take note of the tips outlined above. Most importantly, spend time researching the market and putting a viable launch plan together - it’s the only way to avoid failure from the start.