Page 36 - Bord Bia
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CONTENTS
STAGE 1
a) Know Your Market
Continued
Scoping out the size of the market that you want to compete in
This step is to quantify the segment of the market that you believe you can succeed in. At this
point, you should know the value and volume for your sector of drinks Also, you must understand
the growth rates, both past & future as well as the number of competitors in this space. IWSR
Reports* are the best source for this quantitative analysis.
* The International Wine & Spirits Record
The next step is to start identifying the ‘Size of Prize’ for your business
Start by making some very important assumptions on your 3 key business metrics:
Pricing:
At what price you’ll sell it to distributors. This is key to determining your sales revenue.
Volumes:
Number of cases and/or kegs you plan to sell.
Growth Trajectory:
How quickly you plan to grow your business.
NOTE:
More detailed costings & budgets will be added as you progress through this pre-trading stage
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