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Tips for Starting a Liquor Store

Tips for Starting a Liquor Store

Starting a liquor store is a great business avenue. There will be absolutely no dearth of customers! Some insights on how to start such a business, is presented in the following BusinessZeal write up.
Medha Godbole
I wonder how amazing it must be for those who prepare and sell liquor. Some businesses are such that they are never affected by season or any other slack period! Liquor business never slows down and is never out of customers! On a serious note, though, starting a liquor store can be a fantastic business opportunity. Tempted to know more? Then hang in there!

Opening a Liquor Store

Well, owning a liquor store is not as easy as sipping a few pegs. A lot of things go into setting up a liquor store.

Read and Research
Read and research about this business, get the intricacies and understand the requirements of the business. The most important part of the research is to check out the local and federal laws regarding setting up a liquor store. If possible ask a liquor store owner about the tricks of the trade and how he set everything up, before starting a business.

Search for a Shop Space
You need a shop space for the shop. Either you yourself can search a building zoned for liquor sales with variable traffic, or if you want to spare yourself that task, get in touch with a commercial real estate agent close by and tell him your requirements. An important thing to remember here is that the agent will need to be told by you that the property will have to be held by him for a minimum of 90 days. These 90 days will give you a breather to get all the requisite licenses and permits, and most importantly the business plan. The agent may ask you money for doing this. These are the small things you have to take care of, while starting your own small business.

Complete the Paperwork
Well, you cannot escape the legalities while starting a business, right? So the city or county office is the place to be to apply and obtain for a permit or license for the same. Sole proprietorship will be an easier option to deal with, while filling in the details of the business. Applying for your state's Department of Revenue tax ID number is also equally essential.

Develop a Business Plan
A business plan is very important, whether you want to start a small liquor store or a big one. Marketing section will be perfect, if it focuses on ways for getting as many customers as possible. The management section of the business plan has to be done in a manner that it reflects what you are doing everyday towards starting your store. Then you will also have to deal with the financial aspects of the business.

Start the Business
After you are done with all the permits and the like, it is time to approach the liquor manufacturers and buy liquor, to actually and finally kick start the business. Choose the types of liquor you want to stock wisely, and do a lot of research on them.

All you have to do now is to make sure that all the permits and licenses are in order. Avoid opening the store without being absolutely sure of that. Also, get a video surveillance system set up in the shop.

Now the only consideration left is how much does it cost to start a liquor store. Just to give you an idea, in some states, the licenses itself are supposed to be in a 6 figure amount. Add to the cost of the liquor and the shop expenditures, you have a hefty amount to go in as an answer for how much to start a liquor store! But every business requires some start-up capital, and this one is no different. All the best in your endeavor!