Before embarking on a business partnership in the drinks industry, take these practical steps to set your company up for success—or, indeed, an amicable exit if plans go awry.
“If the parents are dysfunctional, the entire household suffers,” says Josh Jacobs, the cofounder of Speakeasy Company. It’s an analogy for the leading relationship in a beverage company—the founding partnership that so often runs it. “[But] unlike most households, business partners are managing tens of millions of dollars, so the stakes are higher.”
In the beverage industry, with its numerous startups, partnerships form the foundation of many businesses and brands. And everyone knows of one that eventually became stressed and even fractured. There can be many reasons for this, but there are also practical approaches to reduce the chances of it happening—or the fallout if it does.
