Ready-to-Drink Canned Alcoholic Beverages
Startup Costs: $50,000 - $100,000
Franchises Available? No
Online Operation? Yes
Ask the Expert: Joey Angelo, founder of MARGS.
What is the first step to getting started in the ready-to-drink industry?
My advice is to identify a business you have a passion for… a gap in the marketplace, a differential and/or an ability to help solve a problem. Once the “need” is established, it will make the build a lot easier. Being an entrepreneur was something I once thought was impossible. Taking risks is scary and the odds are against you, but once you take that leap and believe in yourself and your products, there is no going back. But it can be a gift and a curse. For me, I have one speed, so my options were to work 24/7 at 100 miles per hour for someone else or put that same effort and confidence into my own business. That’s not an easy decision, and the pressure is real, but when you know, you know.
Is the ready-to-drink industry growing?
Yes, the RTD category has been growing faster than other drink categories since 2018.
What are some of its current trends?
Tequila-, mezcal- and other spirit-based RTDs are growing at a rapid pace, and are expected to reach 8% of the total spirits business in the next two years.
How much money can a person expect to make in the first year and in five years?
It really depends on your goals and other objectives, as well as how much you want to reinvest in the business. The sky’s the limit, but 50% growth as a minimum is reasonable.
What kind of experience/training do you need to have?
I have 20-plus years’ experience in the business, from being a server and bartender to a bar/nightclub owner operator, from a distribution executive to brand owner.
What do you wish you knew when you were starting out?
I think, as with any business, so much is about how you directly relate to the consumer and the quality of your product. Additionally, and most importantly, it’s how you treat people inside and outside of your organization. I am a firm believer in doing the right thing, always!
Who are your customers and where do you find them?
I think we appeal to a massive audience. If you would enjoy an all-natural, low-calorie super-premium sparkling margarita, then you are our consumer. Our stadium and social media growth has led to many new customers; tens of thousands of people seeing our products featured at stadiums and arenas has really impacted growth. Additionally, our global awards and accolades have helped reach an entirely new audience.
Are there any resources you recommend that were extremely valuable in getting your business off the ground?
Fortunately, we have a great support system and are surrounded by some of the best business minds New York City has to offer.