Ryan Malkin joins Erica and Felicity on the Business of Drinks Podcast. In Episode 2 Legal Lingo (or How to Not Get Screwed), Ryan dives into some of the key issues people should consider when launching a product. Ryan speaks about everything from DTC to importing. What will set your product apart from the rest, what will keep your consumers coming back, are all questions that companies must ask themselves in order to have success in the industry.
In this podcast Ryan even dives into what a company without a distillery needs in order to start smoothly. For brands that don’t have a distillery, Ryan discussing making sure they have reliable co-packers, in where everyone knows what each is responsible for. The agreements must be clear and outline everyone’s responsibility.
Also discussed are distributor relationships. Keep in mind is that many distributors will often try locking in brands with their agreements. These agreements’ bottom line will often state that if the contracts aren’t renewed the brand/companies fees will be multiplied. These are one of the many things a brand may want to review in order to avoid future issues.
Ryan also explains that every state has different rules and regulations and shares details about Set the Bar, an app that brands can use to help navigate the industry. The app includes many of the rules and regulations of all the states in the U.S in an easy read formatting. The app even comes with a quiz to test the knowledge of its users. Note: the app is not a legal advice and not a part of Malkin Law.
You can also hear about all the different routes a brand can potentially make when it comes to distribution, such as self-distribution, and brands getting their own wholesale permit. Ryan suggests going through this process backwards, meaning brands ask accounts who they would potentially buy from in order to make the best distribution and route to market decision for their brand.