This study investigates the business models of natural wine producers in Georgia using the PRIV (Performance, Resource, Innovation, Value) framework. Through interviews with 10 natural winemakers and the head of the Natural Wine Association, the research reveals how tradition and innovation interplay to create sustainable business models in this unique segment of the Georgian wine industry. The findings highlight the key components of their business models and the distinctive factors influencing Georgian producers, who strategically balance financial viability, environmental sustainability, and cultural heritage. While reflecting global trends in natural winemaking, Georgian producers exhibit unique characteristics shaped by the country’s ancient winemaking traditions and the specific opportunities and challenges of the Georgian context. The study contributes to the limited literature on natural wine production and provides insights into the sustainable business practices of an emerging natural wine region, underscoring the need for further research.