Segments in this Video

Entrepreneur's Journey: History of Wine (02:34)

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Ivars Spons, owner of Sovereignty Wines, speaks about why he took an interest in wine and what led to his decision in starting a wine shop.

Entrepreneur's Journey: Passion (02:06)

Ivars Spons, owner of Sovereignty Wines, describes the different jobs he tried before realizing his passion for wine and his abilities in this industry.

Entrepreneur's Journey: Retail and Consumers (01:59)

Ivars Spons, owner of Sovereignty Wines, describes the reason he decided to start a wine business.

Entrepreneur's Journey: Learning New Things (02:29)

Ivars Spons, owner of Sovereignty Wines, recommends job shadowing prior to starting any business and the importance of having a basic knowledge of wine.

Entrepreneur's Journey: Building Consumer's Trust (02:04)

Ivars Spons, owner of Sovereignty Wines, advises on the long hours spent running a wine business, the amount of time invested in interacting with consumers, and the importance of knowing your products prior to selling them.

Entrepreneur's Journey: Difficulty Managing Inventory (03:11)

Ivars Spons, owner of Sovereignty Wines, explains how being knowledgeable in your products will generate more purchases. The range of prices in his store and inventory are discussed.

Entrepreneur's Journey: Making Improvements (03:08)

Ivars Spons, owner of Sovereignty Wines, speaks about buying the business and the responsibilities that come along with it.

Entrepreneur's Journey: Time Consuming Business (02:46)

Ivars Spons, owner of Sovereignty Wines, explains different challenges he faced when beginning his business and the traits a person should have in order to have a successful wine business.

Lessons Learned from the Journey (02:30)

This segment summarizes Ivars Spons' start-up experience starting a wine shop.

Entrepreneur's Advice: Responsibility (05:05)

Ivars Spons, owner of Sovereignty Wines, details the difficult process of obtaining a retail liquor license.

Entrepreneur's Advice: Licenses (01:47)

Ivars Spons, owner of Sovereignty Wines, advises on how long it takes to obtain a retail liquor license, temporary liquor licenses, and the process of re-applying for a retail liquor license.

Entrepreneur's Advice: Regulatory Issues (04:13)

Ivars Spons, owner of Sovereignty Wines, speaks about random inspections, audits, legal paperwork and how to financially handle a business for a successful start.

Entrepreneur's Advice: Marketing (01:28)

Ivars Spons, owner of Sovereignty Wines, advises on costs for marketing, recommends amount of cash an owner should set aside for emergencies, and concludes with the amount it would take to start a business.

Entrepreneur's Advice: Liquid Assets (02:35)

Ivars Spons owner of Sovereignty Wines explains bank loans, SBA loans, and how personal loans are the most common loan when starting a wine business.

Entrepreneur's Advice: A Marketing Tool (01:49)

Ivars Spons, owner of Sovereignty Wines, speaks about the banks taking interest in the business after it is successful and the importance of using a business plan.

Entrepreneur's Advice: Make it Happen (02:23)

Ivars Spons owner of Sovereignty Wines advises on the different types of wines, their value, and how to determine which ones to buy.

Entrepreneur's Advice: Making Connections (03:25)

Ivars Spons, owner of Sovereignty Wines, speaks on the ways to store mass amounts of wine on the business premises, blitz sales, and how the connections of the industry works.

Entrepreneur's Advice: Knowing the Wine (02:47)

Ivars Spons, owner of Sovereignty Wines, advises on how he likes to taste the wine before making a decision to buy from the wholesaler and the importance of doing your research.

Entrepreneur's Advice: Specialized Wines (02:31)

Ivars Spons, owner of Sovereignty Wines, advises on wholesalers and clientele.

Entrepreneur's Advice: Careful Management. (04:25)

Ivars Spons, owner of Sovereignty Wines, speaks about special orders, the statistics in mark-ups, how to manage temperature control, storage, and shrinkage.

Entrepreneur's Advice: Building a Brand (04:23)

Ivars Spons, owner of Sovereignty Wines, advises on software available to make a successful business and marketing tips.

Entrepreneur's Advice: A Successful Start (03:55)

Ivars Spons, owner of Sovereignty Wines, explains a blitz sale, what to expect when starting a wine business, and how to treat customers to keep them coming back.

Summary of the Entrepreneur's Advice (05:20)

Summary

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Starting a Wine Shop: The StartUp Experience

Part of the Series : The StartUp Experience
DVD (Chaptered) Price: $129.95
DVD + 3-Year Streaming Price: $194.93
3-Year Streaming Price: $129.95

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Description

Ivars Spons started his career as an electrical engineer, but his love and passion for wine gave him the opportunity to work in a wine shop, which he then bought and made into his own. Ten years later, Sovereignty Wines is prospering, and Ivars is looking to expand. In this program, Ivars discusses what licenses you need, where to get them, and how much they will cost; the importance of a love of wine and a passion to serve people; how much inventory you should carry; what your initial costs will look like; what wine to buy and who to buy from; the three-tier wine-buying system; the “blitz special,” a great marketing tool; how to get wine wholesalers to work for you; and more. (69 minutes)

Length: 69 minutes

Item#: BVL47853

ISBN: 978-1-62102-468-2

Copyright date: ©2011

Closed Captioned

Performance Rights

Prices include public performance rights.

Not available to Home Video customers.

Only available in USA and Canada.


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