Essay About Tourist Destination And Main Products

Foundation of Business
Deep Roots Distillery SummaryLocated in Prince Edward Island. Highly popular for a tourist destination, tourists were mostly from Canada which accounted for 87.7% of the visitors.DRD had access to Beamish Orchard building for its manufacturing and tasting area. The products were crafted with locally sourced but not certified organic produce.Per capita sales of spirits and alcohols in PEI were $226, versus average national average of $182.There are 4 main products sold:Maple liqueur, 25% with maple syrup.Island Time, 45% similar to a moonshine or vodka.Blueberry, 45% one time available supply of wild blueberry wine.Camerise Liqueur, 26.5% made from haskap berry (edible blue honeysuckle).2014, first year of operation financial loss of $16,822. Although was expected to earn a financial gain of $62,600 in the prior year following 2015.DRD earned approx. $12.24 per bottle before production costs.A marketing budget was put in place for $17,150 from the period October 2013 – December 2014.Maple liqueur was outselling the other currently available products by a factor of approx. 5 to 1.The objective for DRD was to become a viable business to sufficiently generate a net business income of $36,000 during the initial year of operation, and to target for $80,000 long term to be able to have a combined annual salary for at least 2 people.The Biggest challenge of deep roots distillery was facing competition. Deep Roots Distillery was incorporated in the year 2014 and at that time , there were many small distilleries that were doing pretty good. Competition was always a biggest challenge when DRD was opened.