5 Implications to Consider When Launching a Microbrewery Service
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Read the lecture notes for Module 4, review one of the recommended articles, complete the Individual Exercises 4-1, 4-2, 4-3, 4-7, and discuss one or two of the following questions:
What implications can be drawn for the launch of a microbrewery service?
Evaluate the proposed new draft beer products (business running case, attachment 1) and discuss important factors to be considered in the process of selection of the successful combination of existing (offered by other breweries) and the new (in-house made) products.
At what price should the new products be sold? Why?
Evaluate the placement alternatives (in-house and through local wholesalers), including the sales needed to break even for the new microbrewery.
What distribution strategy do you recommend for the new microbrewery unit?
Design a promotion strategy for the new draft beers. Include how the restaurant owner should advertise and what message she/he should convey.
Explain one of the five steps of the financial planning process and clarify its importance with examples from your Team Assignment 3 PART1
Discuss one of the three components of the corporate finance plan (sales forecast, forecasted financial statements, and methods for raising any external financing), and demonstrate its importance with an example from your Team Assignment 3 PART 1
In preparation for your Team Assignment 3 Part 1, explain your initial plan for selection and application of decision support tools and methods
Assignment Preview:
What implications can be drawn for the launch of a microbrewery service?
Starting a microbrewery can be a challenging but rewarding endeavor. There are a few key implications to consider when launching a microbrewery service:
Market demand: It is important to research the local market and determine the demand for craft beer. Is there a significant number of potential customers who are willing to pay a premium for locally-made, high-quality beer?
Competition: What other breweries or microbreweries already exist in the area? How will the new microbrewery differentiate itself and compete with these established players?
Capital requirements: Starting a microbrewery can be capital-intensive, as it requires the purchase of equipment, ingredients, and potentially a facility. It is important to carefully plan and budget for these expenses.
Regulations: There are various regulations and licensing requirements that must be met in order to legally operate a microbrewery. It is important to familiarize oneself with these regulations and ensure compliance.
Marketing and branding: Finally, it will be important to effectively market and brand the microbrewery in order to attract customers and stand out in a crowded market. This may include developing a unique branding and packaging strategy, as well as implementing marketing and advertising campaigns.
