Yes, wine is a very profitable business in France. According to UNComtrade data, in 2019, about $11 billion worth of wine was exported worldwide by French winemakers.
It is a known fact that France is famous for wine. As the home of wine, the exportation of good wine has also been a lucrative business. For cheap evening regulars and good quality, France meets your wine needs. Foreign wine lovers are known to tour several wine regions in France.
If you are bold and love wine, France is the right spot to begin your own lucrative wine business.
Top Buyers of French Wine
According to a 2019 study, the United States is the largest importer of French wine. The report shows that the U.S.A brings in over $2 billion worth of French wine (Chablis, Champagne, Bourgogne, Champagne, and Bordeaux) among others. The United Kingdom came second-largest importer of French wine with a worth of about $1.3 billion. Other European countries include Germany, Belgium, and Switzerland. Japan represents the major buyer of French wine from Eastern Asia.
How to Start a Profitable Wine Business in France
The wine business in France is competitive. Therefore, pay attention to the following wine start-up tips.
Intensive Vineyard Research
Purchasing a grape plantation in France is a big dream for many wine lovers. This can be a daunting task, passion alone won’t do it. Even more, a considerable amount of research and investigations are needed. Sure, you can plug a portion of these holes by recruiting and conversing with a few right individuals, it’s significant that you perceive what to be expected. The types of challenges.
Pick the Right Region
One of the most important things that will help you build a profitable wine business in France in the region of your vineyard. This isn’t just about the spot you will be living and working. The region also determines the type of wine you will be producing or selling. Wine regions in France target different wine markets. What’s more, Rhône valley vineyards produce great wine.
Marketable Business Plan
You need to create a business plan for your wine business. Include research overhead to this plan as well as marketing costs. Also include rent and salaries. Don’t forget to calculate the margins, weighing how much it would cost you to create a bottle of wine and what selling price. A considerable part of your business plan will be similar to one for a restaurant.
Launching a Wine Shop
You can decide to buy an existing wine shop or establish your own. This is the same case for a vineyard. Nonetheless, a third choice, which is also well known, is to run a shop that is within a franchise. A wine franchise will make things easier for you. Built-in market and brand identification are extra bonuses. But you enjoy any independent decision-making with a franchise, you still have control over what gets stocked in your shop.
French wines are more sought after across the world. Running a wine business in France is lucrative. However, you must do your research, choose the right wine region, and have a comprehensive business plan.