Bismarck Distillery | Application Preview
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General Information
Business Registration Number: 85-3526183
Location: Bismarck, ND, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
We plan to use any funding for growth within our business. The main focus for funding would be to expand with new equipment to help cut operating costs and produce products in-house faster. We would also use the funds to keep our bottle inventory up. Currently, we are having to keep a lower stock of supplies just due to overhead. This adds stress as suppliers are short on inventory and sometimes can't get us what is needed to supply our distributors due to a backlog of orders. We are growing as fast as we can but sometimes its not fast enough from the requests we are getting from our customers. Funding will also be used to create new products such as Ready to Drink canned cocktails which has been requested from our distributors. We have multiple pallets preordered just need to save funds to be able to accomplish a release of a new product.
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Business Plan
Over the next five years, our goal is to bring more in-house and lower the need for our contract distilling to keep up with demand. This is also important to us because the more we bring back in-house it creates more jobs but also allows us to use more North Dakota-based products from farms and local companies. In 5 years we see our growth going all over the state and possibly regional distribution. Investors will see continual growth with in our company and will see us not just selling a product but meeting a need or request from local distributors, bars, stores, and customers. We are continually planning for the next step of growth and making sure we a growing at the right speed but also fast enough not to lose sales to another business. We are a small distillery but we are successfully competing against some of the largest spirit companies around the US. We are creating a brand that becomes the first stop for distilled products.
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Self Identified Competition
So within the state, there are three other distilleries. We positioned ourselves to have products that can compete and outsell those distilleries. We are also first to market for many of our products and that gives us a local edge. Outside of local distilleries, we are up against the big spirit companies that have a customer base that is hard to break into. Hard but not impossible as we are proving that we are gaining to be the first choice when buying spirits. We are doing this in two ways. First is having a great product that competes head to head against the larger companies. Second, we have built our business to be able to be price competitive with all our products. This gives the customer another reason to switch to our product on a regular basis. Honestly, what makes us different is we are setting ourselves up to meet the demand of the market. A lot of distilleries make a single line of products and cant switch up due to specific equipment purchased or goals they have set in stone. We have developed our business to be flexible allowing an ability to add or change products released to boost sales. We are the first thought for distributors when they get requests for new products. The reason we are first to thought is we can develop new products faster than others, but also create a product that gives the consumer the "wow factor" when drinking our products.
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Contact Applicant
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