It’s a tough world out there. Businesses are vying for customers, trying to draw in more people and sell more than others. Sometimes that means thinking in a new direction, creating a different experience. In the past, many places started adding coffee shops. A latte and a cart, for some, seems like a little break from the hum drum day. Another idea out there is to branch into wine sales, allowing shoppers to sip a glass of vino and shop at the same time. This might work for an establishment if owners find the following three things in their favor.
1. Make A Business Plan Before Proceeding
Every business should have an initial a business sketch and that is why you need a marketing research. All businesses have some criteria but when you are going to launch a business that is related to wine, it is something different and most difficult to start up. But if you buy a running store then it will be easier to continue.
So, you need a business plan to run your business without any hassle. You must know all the relevant and necessary steps, else you could face a huge loss after launching your wine business.
2. General Clientele
What is the audience for your establishment? Some larger box stores have started offering drinks, permitting customers to sip as they shop. Would this work for your place too? It might if the people coming to your place meet several criteria:
- Are they mostly over 21?
- Do they tend to stroll about for a bit?
- Would they likely consume a drink or two without worrying about money?
The idea here is to match the product to patrons. In addition, think about whether people who are likely to have time to dabble in drink.
3. Local Laws
What are the county and local codes? Read up on them to ensure that it’s legal and reasonable to obtain. Some areas are a bit more cumbersome than others, and different cities and states dictate various regulations. For example, someone interested in liquor license Houston TX would have to contact the authorities there to understand their clearances and expectations. That may be quite different from a license in Jacksonville, FL.
4. Profit Margin
Is this going to bring in revenue? Calculate the profit from each drink. Remember that some wines do go bad faster than others. Reds can spoil while white tends to last a bit longer. That may affect the cost of the glass. Are you going to recoup the investment?
Also think about how much longer people might stay in the establishment. As patrons stroll about they are likely to see more items, hopefully picking up more merchandise. Run a spreadsheet comparing revenue from a comparable month with no alcohol sales versus one with sales. While you may not make a ton on the drink itself, see if it affects how much product is selling.
Adding a wine menu might just prolong the consumer experience and increase the bottom line. Before making a decision, decide if the concept is reasonable for an area and business.
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