Challenges of entrepreneurship

Financial instability

Financial instability is a major challenge for any small business, but it can be especially difficult for a niche market like mead. Mead production involves significant upfront costs, such as obtaining high-quality honey, fermentation equipment and bottling supplies, before revenue can be generated.
Cash flow can be unpredictable, especially in the early stages when brand awareness has yet to grow. Seasonal fluctuations in sales can add to this uncertainty. Unlike beer or wine, mead is virtually unknown in Belgium, giving it a smaller, more specialized customer base.

Multiple hats

For many mead owners, the business begins as a passion project. With us, it was no different. Driven by a love of making unique medes and sharing them with others. However, running a successful meadery requires more than just passion for the product - it requires business acumen.
Owners must balance their creative aspirations with the practical realities of running a business. This includes managing costs, competitive pricing, effective marketing and ensuring consistent quality. The passion that drives the business can sometimes clash with the need to make difficult financial and operational decisions. 

Competition and awareness

Mead is still a niche product in many parts of the world, presenting both opportunities and challenges. The Belgian market is saturated by beer or wine, so we face the challenge of educating consumers and building market awareness with our meads. 
Competing with established alcoholic beverages requires a strong brand identity, innovative products and effective marketing. Convincing potential customers to try something new can be difficult, especially when large breweries and wineries dominate the market with significant marketing budgets.

Regulatory hurdles

Running a meadery requires navigating a complicated web of regulations in Belgium. Mede is just as regulated as wine and you need the same licenses. These rules can be daunting, especially for those new to the industry.
Compliance includes obtaining production licenses, navigating tax regulations, complying with labeling requirements and meeting health and safety standards. The cost and complexity of managing these regulations can be a significant burden for small co-ops, taking time and resources away from production and creativity.

High-quality ingredients

The quality of mead depends heavily on the ingredients, especially the honey. It can be a challenge to find high-quality honey that is both affordable and consistent. The type of honey used affects the flavor, aroma and overall character of the mead, making it crucial to find reliable suppliers.
In addition to honey, many meads are flavored with fruit, herbs or spices, which must also be of high quality. Seasonal availability, price fluctuations and the challenge of finding organic or locally produced ingredients can add complexity to the production process.
Pressure on the entire alcohol market from both skyrocketing excise taxes and competition erodes margins. The temptation then to choose cheaper, lower quality ingredients is therefore strong. Especially since the average consumer puts price before quality. One of our greatest values is that we put quality and taste first, above all else.

Production and maturation process

Unlike beer and young meads, which can be produced relatively quickly, we choose to let our mead ferment and mature for longer periods of time.On average, our process takes a year.This way the flavor profile develops to its fullest and we do not have to interrupt the fermentation process with chemicals.This means we have to be patient and plan our production schedule carefully.
The longer production time can strain cash flow because money is tied up in inventory that may not be ready for sale for years. It is an ongoing challenge to strike a balance between producing enough mead to meet demand and ensuring that each batch is given time to mature sufficiently.Building a community and engaging customers
Meads thrive on community support and customer loyalty. Building a customer base takes time and effort, especially in a market where many consumers are unfamiliar with mead.Organizing tastings, participating in local events and connecting with customers through social media are all crucial strategies for building a constituency.
However, these efforts require time and resources that can tax an already thinly spread team. Creating a welcoming environment, educating customers about the mead production process and consistently delivering high-quality products are all essential to building a loyal customer base.

Work-life balance

The impact on work-life balance is a challenge that is often overlooked.The lines between home and work can quickly blur, with business concerns carrying over into evenings, weekends and vacations.Wearing multiple hats (above) also contributes to stress and pressure on work-life balance.The pressure to succeed and the fear of failure can lead to long workdays and a lot of stress.Without careful management, this can take its toll on physical health, relationships and overall well-being.
Conclusion: The resilience of co-op owners
When we started our passion project, we had no idea what we were getting into. Running a meadery is not just another business; it is a craft, a passion and a commitment to preserving and sharing an age-old tradition.Despite the challenges, from financial pressures to regulatory hurdles, those who choose this path are driven by a deep love for their craft and a desire to bring something unique to market.

Conclusion

The difficulties of running a meadery are real, but for those who persevere, the rewards - both personal and professional - are considerable.The joy of making something with your own hands, the satisfaction of seeing customers enjoy your product and the sense of community that comes from building a small, dedicated customer base make the journey worthwhile. At the end of the journey, you can generally think of entrepreneurship as: solving problems. No matter what industry you work in, as a small business owner there are always new problems coming your way that need to be solved.Whether it's production problems, regulations or customers.You have to find solutions. 
And the entrepreneur who can successfully solve the problems that arise succeeds.
Ultimately, running a co-op requires resilience, creativity and an unwavering belief in the value of your craft. It's a challenging road, but for those who are passionate about mead, it's a journey full of rewards as sweet as honey.