It’s a dream of many Americans to start their own brewery business. Creating the perfect formula to rival those from the biggest companies and selling freshly brewed craft beer to our neighbors are some of the dreams we have when we open our first brewery. However, starting a brewery is no easy task. It is listed as one of the most complicated businesses to start. But if you do your research and gain the essential knowledge you need, you should be able to start your brewery in no time. Her e is how you can start a brewery this year.
The Brewery Market
Let’s first look into the overall brewery market and where you’re going to be once you’ve started your business. The overall beer industry is worth a staggering $623 billion. It’s expected to grow by a steady 5% in the next few years, making it the best time to start your brewery. However, it’s important to know that this particular market is dominated by commercial beer makers such as Heineken, Corona, and Asahi.
So what does this mean for your start-up? This means that you might get dominated and outsold by these bigger companies once you’ve entered the market. It’s even been reported that Anheuser-Busch InBev and MillerCoors own 90% or so of beer production in the US. It’s a dangerous proposition to fight these industry giants, especially if your brand is not yet well known. Our suggestion is to look into the modest but growing craft beer market.
Craft Beer and the US
Americans love craft beer, and it is one way small and independent breweries rebel against the growing monopoly in beer production. It is also the market we suggest that you penetrate. The craft beer industry is valued at a modest $89 billion with a compound annual growth rate (CAGR) of 10%, a much higher growth rate than the overall beer industry. Moreover, unlike the beer industry, the craft beer industry is dominated by humble independent breweries looking to disrupt the bigger competition. Craft beer is slowly rising, and it should be your main product if you wish to start a brewery this year. There are a couple of reasons for this, one of which is uniqueness.
Craft beer has an emphasis on unique taste and flavor. Uniqueness is an essential factor you’ll have to put into your brand. This means you’ll have to be developing a formula before you even think of starting a brewery. One of the things you should look into is using strata hops as your primary ingredient for your beer. Good strata hops can add a hint of tropical fruit flavor into your beer, making it a unique choice among consumers.
That uniqueness is what you’re looking for because it will organically develop your brand and make you a household favorite among consumers. Additionally, everyone loves flavored beer, which opens your consumer demographic to those who don’t like to drink beer. Aside from uniqueness, you’ll have to develop your brand and identity if you want to grow in this given market.
The craft beer industry is one made by the community. It’s a humble industry made by many independent breweries looking to gain their share without dominating others. Your branding should be dedicated to the authenticity of the creation of your beer, how it’s made, and how it is supporting the community. It brings heart and soul to your brand, and it gives a reason for consumers to return to your brewery and consume your craft beer. Aside from branding, you’ll have to look into loyalty programs so you can start bringing in return purchases into your brewery.
Return purchases are one way you can get your brewery to grow. One way you can control this variable is through loyalty programs. There are now thousands of marketing companies offering loyalty programs to their clients. There are also thousands of app developers willing to make a loyalty program for their clients.
We suggest that you choose the latter. Loyalty programs that can be accessed through mobile are more efficient than any loyalty programs out there. Consumer points can be checked on the go, and this gives your consumer base a reason to stop by your brewery before heading home.
The overall beer industry is changing, and craft beer is one of the main reasons for this change. By taking the opportunity to join this change, you can grow your brewery by a significant margin. Make sure to keep your brand unique through taste and marketing. This will ensure that your brand is identifiable from others in the business. This will bring in return consumers who enjoy the taste of your beer and the price of the products you offer.