You’ve found the perfect spot to set up your liquor store. However, you can’t just stock the shelves and call it a day. There are some other steps you must take before you can welcome your first customer.
Build a Plan
If you need a loan to support your dream, you have to prove to the bank that you’re trustworthy and will be able to pay the money back. Draft up a prospective inventory and payroll, showing an in-depth list of your expenses. Even if you have private backing, it’s still a good idea to have everything committed to paper so your investors can have confidence their money won’t be wasted or misspent.
Follow the Law
Alcohol isn’t as regulated or restricted as THC products, but there are still a lot of rules to follow when it comes to selling it. Some of these rules are federal, but others may be local. For example, having a Texas alcohol permit means you can’t sell hard liquor on a Sunday.
Know Your Audience
Do you live in a college town with “Thirsty Thursdays” every week? Or are do you live near a vacation spot and expect most of your business to be tourists during the summer months? By keeping your finger on the pulse of local demographics, events and special dates, you can appeal directly to your client base by refining your stock and sales.
Less Is More
A wide selection makes a trip to the liquor store feel like a scavenger hunt. Sometimes this is a fun build-up to the excitement of a party—but sometimes it’s a real hassle, especially if the store is small and crowded. Keep your aisles easy to navigate, even if it means sacrificing some stock. Just let your customers know that you can make a special order for them if you don’t have what they’re looking for.
Be flexible, accommodate the needs of your customers and you will have their business for years to come.