Does anyone on this forum own a liquor store? If so, what kind of capital is required to open such a business. Is it difficult to operate? Any input would be great.
Liquor Store
- Thread starter x2man
- Start date
Don't own one but am in retail.
Some things to consider
#1. Liability - enough said
#2. Clientel (sp?) - who are you going to be dealing with, etc
#3. TIME - Someone calls in sick, you cover...you get robbed, you're there, etc, etc, etc.
#4. Not necessarily a "gimmick," but why should the consumer go to your store as opposed to any other?
Acquiring a lisence will probably cost a pretty penny, aside from the initial hit you'll take buying what you need to have in stock.
GL with your venture!
Some things to consider
#1. Liability - enough said
#2. Clientel (sp?) - who are you going to be dealing with, etc
#3. TIME - Someone calls in sick, you cover...you get robbed, you're there, etc, etc, etc.
#4. Not necessarily a "gimmick," but why should the consumer go to your store as opposed to any other?
Acquiring a lisence will probably cost a pretty penny, aside from the initial hit you'll take buying what you need to have in stock.
GL with your venture!
....touching on what Hogman already wrote.....
if you live in a town like I live in alcohol is sold damn near everywhere except in the public schools......I know a number of beer truck drivers....thier workload has increased simply because of the number of stops they have to make...
....used to stop at just bars and liquor stores.....now they stop at grocery stores and all the gas stations.....with all that liquor being delivered everybody's piece of pie gets a little smaller....getting too commonplace of an item to buy to make a profit in it.....
if you live in a town like I live in alcohol is sold damn near everywhere except in the public schools......I know a number of beer truck drivers....thier workload has increased simply because of the number of stops they have to make...
....used to stop at just bars and liquor stores.....now they stop at grocery stores and all the gas stations.....with all that liquor being delivered everybody's piece of pie gets a little smaller....getting too commonplace of an item to buy to make a profit in it.....
I don't know about liquor stores where u r at, but I work w/alot of them in indiana...
Don't know how strict they are where u r on these stores, but let me explain indiana. Indiana lets the liquor store assn. control where cold beer can be sold. And it can only be sold in liquor stores here. Pharmacies are allowed to sell hard liquor here, what a combination. And in the indpls marion county area, they are not issuing any new licenses, and a matter of fact neighborhood assoc. they can have some stores licenses revoked, if they don't keep the rift raft and panhandlers off of there property. And SBA will not give a loan on the license. So liquor licenses here run $150k to $200k just for the license. Now if u want a store that is profitable enuff so u can hire a store manager to be on call, the store will have to do at least $20k a week in business and they sell for about $500 to $600k here for those stores. Owner/operater store u can buy for between 250 to 350K. So it is a very expensive startup expense. A buddy of mine was selling off his rental property and is looking for a biz like this, and I was doing alot of the legwork involved with it. These businesses do make a lot of money, if they are runned right. which what i mean by that, don't overorder merchandise, CONTROL THEFT!!! ur employess will steal more for u than any customer, trust me on this. And something else u have to be in a Buying Group to stay competive on pricing and to make a better profit margin. The only guys I work with they are not in buying groups here in indy, by product by the skid, I know of 3 different buying groups here, with about 15 guys in each one.
Hope this helps u out!!
Need to know anything else let me know!!
Something else the guys that make the most money in this business has the nastiest looking stores in the nastiest neighborhood, where everything is behind bullet proof glass!!
Don't know how strict they are where u r on these stores, but let me explain indiana. Indiana lets the liquor store assn. control where cold beer can be sold. And it can only be sold in liquor stores here. Pharmacies are allowed to sell hard liquor here, what a combination. And in the indpls marion county area, they are not issuing any new licenses, and a matter of fact neighborhood assoc. they can have some stores licenses revoked, if they don't keep the rift raft and panhandlers off of there property. And SBA will not give a loan on the license. So liquor licenses here run $150k to $200k just for the license. Now if u want a store that is profitable enuff so u can hire a store manager to be on call, the store will have to do at least $20k a week in business and they sell for about $500 to $600k here for those stores. Owner/operater store u can buy for between 250 to 350K. So it is a very expensive startup expense. A buddy of mine was selling off his rental property and is looking for a biz like this, and I was doing alot of the legwork involved with it. These businesses do make a lot of money, if they are runned right. which what i mean by that, don't overorder merchandise, CONTROL THEFT!!! ur employess will steal more for u than any customer, trust me on this. And something else u have to be in a Buying Group to stay competive on pricing and to make a better profit margin. The only guys I work with they are not in buying groups here in indy, by product by the skid, I know of 3 different buying groups here, with about 15 guys in each one.
Hope this helps u out!!
Need to know anything else let me know!!
Something else the guys that make the most money in this business has the nastiest looking stores in the nastiest neighborhood, where everything is behind bullet proof glass!!
Tks for the replys. Here in Texas, liquor is not sold in the grocery stores, YET. Right now that is a good thing. I am trying to open a place in a city where Walmart and HEB have just opened new stores. New shopping centers are being built so I have an oppurtunity to lease a spot before someone else gets it.
I called around town today to try and get a part time job at an exsisting store so I can gather information about running such a store. Just my luck nobody is hiring. I would work for free just to have someone teach me the ropes, LOL.
As far as all the legal stuff, I haven't done any research in that
area.
I feel owning ur own business is the only way to make some serious money now a days. Work like a dog but the difference is
you see the fruits of your labor in the bank. Does anyone else feel this way?
I called around town today to try and get a part time job at an exsisting store so I can gather information about running such a store. Just my luck nobody is hiring. I would work for free just to have someone teach me the ropes, LOL.
As far as all the legal stuff, I haven't done any research in that
area.
I feel owning ur own business is the only way to make some serious money now a days. Work like a dog but the difference is
you see the fruits of your labor in the bank. Does anyone else feel this way?
