Virginia's winery business plan example Essay Example | Topics and Well Written Essays - 1000 words

Virginia's winery business plan example - Essay Example The sustainability of the winery to competitive advantage will be to seek and attract younger generation wine consumers2. The main source of market will be analysed through internet perceptive marketing methods that will apply the use of flashy websites. The primary use of this marketing method is that it allows sales of wine through the internet3. Moreover, there shall be a 5K wine run that will incorporate the county’s clubs especially the Augusta County Track Club. This initiative will run or operate for the three years with the aim of supporting local area runners thereby publicizing the name of the new company among the locals4. Additionally, the Virginia’s Winery will host a series of events including business meetings and weddings among other festivals that will be conducted throughout the year. In the beginning of the operation, the winery will have three distribution channels. These channels will mainly provide retail services for the product within the company and outside the company as well as internet sales. Notably, these three channels will provide the business with the most accessible and effective primary and secondary markets5. Additionally, competitive pricing strategies where prices slightly below other local premium wineries will be applied to these new products in order attract younger generation among other wine consumers6. Finally, profit generation and maximizing of profit will be achieved through the analysing of different operational costs to ensure that the company will be generating a modest profit to cover all its expenses. To start the operation of the company, Virginia’s winery will need a long-term loan that will be operated in line with credit as the amount that will help cover the start up operational costs of the winery. By the ninth year of operation, the Winery will get switched to a net income corporation. At this point, the management will establish customer based