Interested in starting your own entrepreneurial journey in food & beverage but unsure what to expect? Then read up on our interview with Mark Adkins, Founder of Reaver Beach Brewing, Co., located in Virginia Beach, VA, USA.
What's your business, and who are your customers?
Our craft brewery creates approximately 50 different beer styles to serve in our two taprooms (Virginia Beach, VA, and Norfolk, VA). We also distribute two beer styles (a double IPA and a New England hazy IPA) to over 500 locations in Virginia and coastal North Carolina. Our customers are typically between 30 - 50 and enjoy full-flavored beer.
Tell us about yourself
I enjoyed excellent craft beer and had a strong business background. Every time I was in a craft beer taproom, employees and customers were always having a grand time. Likewise, I purchased an existing brewery with outstanding beers, employees, and a solid brand.
I want to build a long-term profitable enterprise that benefits our hard-working team members and creates fun times and memories for our customers.
What's your biggest accomplishment as a business owner?
Surviving COVID-19 was a tremendous challenge and accomplishment. We never eliminated any team members. It was also doubling our income over the last four years despite the COVID setback.
What's one of the hardest things that comes with being a business owner?
Cash flow and access to reasonable capital to grow the company.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
First, have plenty of working capital. There will be ups and downs and surprises along the way. Having access to cash is critical.
Second, hire the best people you can afford. Listen to them, act accordingly, and establish a strong culture of your business values.
Third, I encourage someone to explore acquiring a solid business vs. starting from scratch.
For example, in my business, if you were starting from scratch, you would have to purchase all the equipment, location, hire employees, etc., without any brand loyalty, customers, or even if anybody would like the beers, you produce.
Where can people find you and your business?
Website: https://www.reaverbeach.com/
Facebook: https://www.facebook.com/reavernfk
Instagram: https://www.instagram.com/reaverbeach/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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