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Showing content with the highest reputation on 05/26/2017 in all areas

  1. Read the CFR carefully, you will see that for things like brandy and whiskey the proof limits are for the quantity produced as a finished product for the run. That means you ignore heads and tails, and you can be above proof for segments, provided the final proof of the finished product is below proof limit.
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  2. Masters in chemistry, while helpful, is far from necessary. What you really need is a process engineering consultant for about a year, a stellar marketing company, compliance officer, and CFO. Oh, and a shit-ton of money. Distilling is by far the easiest thing about running a distillery (and probably, after the first year, the most boring).
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  3. While much of what Joseph says is, and always was, true (operating capital management, marketing 101), I don't buy the bubble argument for one second. People have been saying the same thing about craft brewing for 20 years. It's still growing in volume nearly 13% year on year. Spirits are just getting started. Millennials re-wrote the markets for craft beer and wine, and they're about to do the same for spirits. They don't have the age statement bias of their parents. They're not afraid of trying new things (would you or I have ever tried a cinnamon whiskey - bleah!) They also crave experiences. So, putting capital into your location and tasting room may be FAR wiser than into name-brand copper in your stillhouse. There's also the international markets that are clamoring to experience US craft spirits. Know what an ounce of Stranahan's goes for in NL? 25€ The tired old shelf space argument never ceases to crack me up. Do you honestly mean to tell me your local liquor store had 10-12 beer coolers back in the 80s? Liquor stores are in the business of selling booze. If there's a market, THEY'LL MAKE SPACE. There's this absurdly tiny liquor store on my way home from work. Not even 500 sq ft. They are incredibly convenient though. I stopped in looking for my go-to beer (Trumer Pils) about a year ago. Of course they didn't carry it. I just mentioned to the owner that I was looking for Trumer. He said "I'll have it here next Tuesday". Now he didn't know me from Adam, but you know what? He somehow made space. Trumer Pils is always there and I pick up a six every week. 250 types of brown spirits? LOL. Have a look at the wine isle and imagine yourself in THAT market. Oh, and they're thriving. Sure, there will be some craft distillery closures. The days of "if I make it, they will come" are over. For every closure though, there will be 2+ more opening. And some of those will actually have a clue about marketing. FFS, High West just cashed out for $160M, selling whiskey they didn't even make!
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