Wine Store Business Plan

Mostly, it’s nice that a big company can’t swoop in and take over every liquor store in sight.

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And, your take-home pay will vary with some years better than others depending on volume.

But, so long as you have customers who walk in the door, no one can really take away your job.

Sure, I wish the store was a huge cash cow; you know, pay myself a nice salary every month and do whatever I want all day. And, it’s nice that the liquor store provides a comfortable income.

Sounds great in theory but as a member of the community I’m glad it’s not so easy because big corporate greed would quickly follow. That way the owner is highly unlikely to sell booze to minors – there’s too much at stake to break the law for a few extra bucks.

Since 2010 I’ve been investing in real estate in Pueblo, Colorado and when a commercial building with retail on the ground floor and multifamily residential on the second floor was listed for sale I went to take a look. Instead, the owner accepted my offer…..hey, that’s great newwwwzzz…shit. Since taking ownership of the store I’ve learned a few things about the liquor business that might surprise you. Inventory is expensive and margins are thin, managing inventory and cash flow is extraordinarily difficult and SKU level demand is nearly impossible to forecast accurately.

proud owner of a liquor license and a terrific selection of craft beers, pinot noirs and small batch bourbons….among many other standard liquor store offerings. I fully expected a counter-offer that wasn’t sufficiently attractive, allowing me to walk away and go back to business as usual. Retail liquor, at least in Colorado, is a fascinating business. The quantities of categories, brands, flavors, price points and size variations are mind-numbing. Liquor distribution is heavily regulated in Colorado with a 3-tier system composed of manufacturers, distributors and retailers; each tier has its own set of rules and requires its own special license with an application paperwork trail that only a lawyer could love.

You just need to find a way to back them up when someone asks you about it.

Come up with percentages on growth over a 3 year period, and then find ways to justify the growth.

I found a competitor in a different country, and set up a call with them. They were more than willing to tell me anything.2) Look for new businesses in your niche that are currently pitching.

I just stopped at a new distillery in Ennis, Montana. If you can't get a competitor to tell you the info, then you could consider calling a similar business.

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