Hi Scott,
I have a dream. I want to start my own vineyard. I love wine! We live on 20 acres in Gippsland (Victoria) and I want to add 4 hectares of vines. I always thought it was a pipe dream but last year I got an inheritance of $250,000 from my grandmother. I want to use that money to create something. I want to bottle my own wine, it’s very profitable. My wife is not so sure, and wants to pay it off the mortgage. Is this a good idea?
Craig
Hi Craig,
I know nothing about wine, so I asked the best winemaker I know, Ben Ranken.
Ben won the ‘Young Gun of Wine’ award from his industry peers, so he knows what he’s talking about.
Over to Ben:
“I see a lot of doctors and lawyers and wealthy people who fall in love with the idea of owning a vineyard, but they never think about who they’re going to sell their wine to.
“So my advice to Craig is to work backwards: have a wine with a local winery and ask them about their experience, how much they’re selling their wine for, and to who, and how much money they’re making.
Because it can be a tough slog. A vineyard costs between $30,000 and $50,000 a hectare (irrigation, posts, vines) to set up, and then you’ve got three years before you have a crop.
So you’re basically working for free, and you’ve got all the risk. As you know all too well, Scott, there are bushfires, floods, kangaroos, rabbits, hailstorms …”
Thanks Ben, I’d go with paying down the mortgage Craig (and buying a case of your favourite plonk).
Speaking of which, I famously don’t drink anymore, but back when I did it was Ben’s wine that was my rolled-gold favourite. In fact I used to give away his plonk to hoity-toity wine snobs, and they’d often tell me it ‘tasted like $200 wine’ (check out Ben’s wines out at www.wilimeewines.com.au). I don’t get paid anything to say that … other than to see my readers get to drink amazing good wine.
Tell him Barefoot sent you!
Scott.