Wineries for Sale in United States, Virginia
We interviewed Janine Aquino, Licensed Winery Real Estate Agent from Aquino Baron Consulting to explain better what’s going on in the Virginia wine scene after years of hard work from many local wine families who are ready to either upscale their operations or list their winery for sale. There is increased interest from international investors.
To understand better how this opportunity works for investors, Aquino Baron Consulting manages two types of new ownership which Janine Aquino consults on – brand new ownership and generational ownership.
New ownership occurs when someone purchases a winery. They typically come from another industry, such as Tech, Finance, or IT, or they just have had a passion for wine for a long time and want to take that passion to the next level. These people typically don’t have the knowledge base on what it takes to run a winery.
Generational ownership is when family members decide they want to be the next owners to carry on a family legacy. Perhaps they’ve worked at the winery, so there is some knowledge about the industry. Sometimes they don’t have any knowledge about the industry, so they fall into the category of new ownership.
In either situation, I approach my consulting by looking at the «bones» of the business. Essentially, I do an «audit» of the business. I look for holes that need to be fixed. I look at the overall health of the business from internal processes and procedures to how all the departments of the business are functioning. More times than not, current ownership has been running it the same way for many years and never had the time to fix the issues.
After the audit results come in, then we form a strategic plan consisting of what needs to be done in order to have a smoothly running operation. My company gets involved with creating procedures for the departments within the winery, new menu offerings and design, wine club revisions, sales training, new job descriptions, revising their distribution model, revising their events model, assessing their marketing materials, and more. I highly suggest this be done when someone either buys a winery or when the next generation is looking to take over.
What inspired you to get into the business of selling wineries?
I have been in the wine and winery industry for my entire life. Grew up on a vineyard growing grapes and making wine as a child and my family had a generational wine importing company in New York. I worked for wineries in the Hudson Valley region of New York, then I moved to Ohio where I owned and operated a winery for 10 years. The pandemic hit and I was given an opportunity to work at wineries in Virginia, so I took a chance, and it has become a very fulfilling career. I started consulting wineries in operations and strategic planning and my clients were wanting to buy wineries and I thought since Virginia didn’t really have a seasoned wine professional selling winery, this would be a great fit for me. I enjoy helping people move onto their chapter because I was in the same position when I wanted to sell my winery in Ohio.
What would you say are the main strengths that make Virginia an attractive location for investors to buy a winery?
Virginia offers much diversity in its terroirs and landscape with temperate climates. There is much value in the land and you can get more for your money than say California. Virginia has so much potential and it’s becoming the next «hot» market. Why is wine tourism particularly important right now? Since the pandemic, people are looking for more ways to be outside and enjoy nature. Virginia has beautiful landscapes throughout the state from the mountains to the beaches.
Are most wineries open for visitors, weddings and other events?
Yes, there are more agribusiness and agritourism properties offering private and public events like weddings, parties, association meetings, live music, food trucks, walking trails, and activities for all ages.
Are wines from Virginia primarily consumed locally, regionally, nationally or internationally?
Locally and regionally mostly. Nationally, just a little bit. Virginia is a hidden gem and has not been introduced to the entire United States or internationally much at all. The Zonin family owns Barboursville Winery and other wineries, and they hail from Italy. Chateau Montrose bought RdV Winery in Virginia and renamed it Lost Mountain. Several wineries here in Virginia have sister wineries in other US states also.
Current Listing of Wineries for Sale: https://www.aquinobaron.com/farms-and-wineries-for-sale/
To know more about this opportunity:
Janine E. Aquino / President
614-562-4900 (cell)
Expert Winery & Agritourism Consultant
Licensed Real Estate Agent
