Colorado Small Business Development Center Healthcare Coverage and the Affordable Care Act Federal Healthcare Reform law does not require businesses to provide health coverage to workers, though large employers will face penalties for failing to do so. The Affordable Care Act may help small businesses and small tax-exempt organizations afford the cost of covering their employees. Businesses with fewer than 25 employees, that provide health insurance, may qualify for a small business tax credit of up to 35 percent up to 25 percent for non-profits to offset the cost of health insurance. This will make the cost of providing insurance much lower.
Five business issues to consider before starting a brewery November 12, Chris Farmand We are confident you know how to operate all those valves and tanks, but can you balance your checkbook?
When you are ready, hire someone who knows the industry — they will get it! With all the excitement surrounding opening a brewery, there are some realities an aspiring brewer must reconcile with to make this dream work.
Brewing beer is fun and owning a brewery is more fun, but at the end of the day, it narrows down to owning a business. Capital Do you have the money it takes to open a brewery? Under capitalization is the equivalent of roofers affixing shingles with bubble gum. Tack on an additional 30 percent of total brewery startup cost, including equipment, as a safe starting number.
While this may seem like a large amount of working capital, figure salaries and marketing alone will eat up most of that in little time. Sources for capital are friends and family, banks, investors, crowd sourcing and most recently crowd investing.
You must align yourself with the right legal and financial team to structure receiving money from anyone. One wrong move here could spell big trouble in the future. Plan If a culture is sharply defined, it will attract flocks, and what is the old saying?
Birds of a feather, flock together. A confident culture will only result in a more loyal brewery following, resulting in higher sales.
Do you have a plan? I am not talking about a traditional business plan. I am talking about a PLAN. Traditional business plans are for winemakers.
Fly up to 30, feet with me for a minute. When I say plan, I mean: Can you feel the energy you are about to bring?
Planning in the beginning can be as simple as production goals, tasting room vs. While these may seem elementary, they will act as a foundation for more complex metrics in the future. As time goes on, planning should mature into a deep dive from information received during production, marketing and financial processes.
Distribution What does distribution look like in your state? Is self-distribution an option? For the states that can self-distributeare your logistics and liability coverage in order?
Self distributing is a wonderful option to have in the beginning, but at some point, you will need to pass it off to the professionals. When that time comes, the nuances of a distributor contract may drive you insane.
You are handing off the transport and promotion of your proud product to a complete stranger. I always suggest distributor selection should be a slow courting process where you have many opportunities to interact and drink beer with the people who will be taking care of your baby.
Back office Do you have the money it takes to open a brewery? I am confident you know how to operate all those valves and tanks, but can you balance your checkbook?
The accounting and compliance piece may be a little more than your spouse can handle. There is no better feeling than knowing your CPA or bookkeeper can speak your language to solve a problem.
Another reason the back office should be in order is … the TTB requires it.Welcome to Sprudge Jobs, a division of the Sprudge Media Network focused on hirings and availability from the best brands in specialty coffee. 1.
Target a niche, or type of food you will serve, for your buffet restaurant, such as pizza, home style or comfort food, vegan cuisine, or a soup and salad bar. With all the excitement surrounding opening a brewery, there are some realities an aspiring brewer must reconcile with to make this dream work.
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.
Sullivan has opened a bunch of Denver restaurants over the years, including TAG. “Getting the business plan together, getting the capital. “Getting the business plan together, getting the capital.
Executive Summary Put a brief summary at the front of your marketing plan binder. On a single page, sum up (with key financial numbers) in no more than a single page the contents of your marketing.