Friday, March 24, 2006
Building a Presence in the Wine Industry
How do you get your winery project off the ground?
Many people think that when they are creating a new winery venture that they will have to have investment from deep-pocketed institutions or individuals to get it running. Certainly, to achieve any kind of viable scale, some capital is required at the outset.
But if you consider your wine venture as 'your baby' then you'll have to find a way to accept that you do not own the company - your investors do. And they can control or take it away from you when ever they choose.
Reading Seth Godin the other day prompted me to consider whether a winery could be funded on a parceled basis or project by project. That way you don't sell out. Each wine or however you segment the business is funded separately. When you invest in a motion picture you don't buy the studio - you buy a chunk of a film and your returns vary with each agreement.
I'd be interested in your feedback on this.