Liquor Store for Sale

Unlike many other products for sale, alcohol is one that is not seasonal. People consume alcohol all year round, and liquor sales have yet to drop due to external factors that would typically affect other industries. This makes it a reasonably safe bet to invest in, and become a part of.

Business for Sale

28 September 2021

Summary

South Africa has a very big drinking culture, and margins on wholesale alcohol are reasonably high. As such, breaking into the alcohol business as an entrepreneur is a good move. In saying this, there is still a lot of hard work that goes into owning and running a profitable liquor store.

Benefits of Running a Liquor Store

Inelastic Demand

It’s Versatile

With the likes of major eCommerce sites offering alcoholic products, alcohol consumers are able to conveniently have their products delivered to their door. This opens up a number of different channels for consumers to access your products with additional convenience. Having multiple leads come in from different sources is lucrative and improves sustainability.

Improved Reseller Value

Because liquor is highly regulated, having an already established liquor store with the proper licensing means that you can ask for a higher price when you’re ready to sell. If a liquor store is run correctly, there are some major profits that can be obtained.

How Profitable is Owning a Liquor Store?

Just like with any other business, the profitability of liquor stores will depend on a multitude of factors. These include:

overhead costs,
demand in-store location,
inventory,
suppliers,
clientele.

Tips for Running a Successful Liquor Store

Popular or not, alcohol will still need to be promoted. Here are a few simple ways that you can ensure that your liquor store is as profitable as possible.

Create Awareness

Planning events around the stock in your store, hiring promotors, and sponsoring some popular (relevant) events will get people talking about your store. Alcohol is a fun product to market, and it won’t take much convincing to get some sales in.

Plan Your Store

A well-planned store will encourage walk-in clients to buy more, or at least remember what merchandise you have for next time they’re looking for that specific item. Strategically placed items such as party supplies, non-alcoholic drinks, shooters, bar supplies, home brewing gear, and more can be placed to entice customers to spend more and keep coming back.

Stand Out from Competition

If you can, try to find stock that competitors aren’t selling and market those. People often enjoy trying something new when it comes to alcoholic beverages.

How Much Does it Cost to Invest in a Liquor Store?

Every business is different. It’s best to explore your options on a reputable directory that sells businesses from multiple industries. Check out Business for Sale for more information, and contact us if you need some help!

Author: Business for Sale

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