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3 Tips for Increasing Profitability When You Buy Liquor Store Businesses


Buy Liquor Store Businesses Tips

When on your search to buy liquor store businesses, consider additional ways that you may use the location to generate additional revenue streams. Wine and spirits are an important and profitable part of the American culture -- and by implementing a few creative programs and events you can reach new audiences, drive customer loyalty, and increase profitability.

Wine Tasting Events

When you buy liquor store businesses, you're not only limited to shelf sales. Consider holding weekly or monthly wine tasting events in your liquor store. Invite local winery representatives to pour wines, sign bottles, and educate consumers on the history of the wines and vineyards. People love to have a story to share with friends and family when they serve wine at parties or around the dinner table. As a result of the event, shoppers may pick up several bottles of wine that they would have never considered before.

Mixed Drink Classes

Another way to boost sales and traffic after you buy liquor store locations is to host mixed drink making classes. Many customers aren't sure what they can create with the many different types of liquors and mixers on your shelves. Hosting weekly events that teach people how to make one or two new concoctions gives them a reason to purchase new liquors, mixers, gadgets, and glasses.

Wine Pairing Classes

While many love to toast a glass of wine at dinner and serve wine at parties, many people will admit that they are not necessarily wine aficionados. They aren't sure which type of wine to serve with which foods or how a $40 bottle of wine differs from an $8 bottle of wine. Educating the public on wine choices and options is not only fun for them, but profitable you. Many people who buy liquor store locations won't consider these out of the box revenue streams, meaning more market share for you.

When looking to buy liquor store locations, look for retail spaces that have either a back room or a section that can accommodate an event such as these. By hosting an event you can drive new traffic to your liquor store that may not have come in otherwise.

Categories: BizBen Blog Contributor, Buying A Business, How To Buy A Business

Contributor:

Peter Siegel, MBA
Areas Served: All Of California
Phone:  925-785-3118 Cell, 925-785-3118 Text
Founder & President Of BizBen.com (since 1994) & BizBenNetwork.com. I am the Lead Facilitator for the ProSell & ProBuy Programs on both websites. I consult daily with buyers, sellers, and intermediaries daily about buying and selling businesses. Call 925-785-3118.

Comments Regarding This Blog Post


One thing that I did when I owned liquor stores, which I hardly see anymore, is that I operated a small deli station in the store. I was lucky enough to have a location that was next door to a large aerospace company that had 30,000 employees plus, and the deli served as a great source of income, because not only would people buy a sandwich, but also bought chips and a soda. An owner should investigate with the city in regards to permits and licenses, and see if they can mainly focus on cold sandwiches and use a convection oven to heat things up.






  Helpful Resources To Assist In Selling And Buying California Businesses
Chris Seaman, Business Broker: Southern California

Founded in 1994, First Choice Business Brokers has accelerated to become one of the most successful Business Sales Organizations in the world. Our team of agents have gone through extensive training to become experts in the field of business brokerage. Call Chris at 858-578-4111 for more info.

Mani Singh CBB, M&AMI, Business Broker, Southern California

I have successfully represented clients sell & acquire multitude of businesses ranging from Gas Stations, Liquor Stores, Markets, Super Markets, Smoke Shops, Postal Stores, Restaurants, General Retail, Auto and Construction related. Phone me for assistance with selling or buying at 951-296-7646 Cell

Jim Saxton, Liquor License Broker & Consultant - SF Bay Area

20 years experience of local governmental requirements, such as Police Departments, Zoning / Planning Departments, and ABC District Offices, my company Liquor Licenses of SF Bay Area is very qualified to resolve all of your concerns during the liquor license transfer process. Call 925-787-0770.

Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence

Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.

Joe Ranieri, Business Broker: Orange, LA County Areas

Having owned retail/restaurant businesses for over 20 years, my interest turned to listing and selling businesses rather than owning them. I specialize in LA & Orange County high volume restaurants, fast food independents and chains, bars, & liquor stores. Call 714-292-5448 Cell/Text.

Jeff Sacher, Business Broker: North Bay Restaurant, Retail Specialist

Jeff is a leader in business brokering in the North Bay. Since joining Santa Rosa Business And Commercial in 1999 he has assisted Buyers and Sellers in over 200 business sales and acquisitions. Jeff provides other services for his clients as well. Reach Jeff and his team at 707-888-4972.

Manjit Singh, Business Broker - SF Bay Area, Central Valley

Assistance in the SF Bay Area & Valley. Contact me about buying or selling a restaurant, liquor store, gas stations, markets, and c-store businesses. If you are looking to buy or sell a SF Bay Area, Central Valley liquor store, market, c-store, restaurant, etc phone me direct at 510-417-9429 Cell.

Diane Boudreau-Tschetter: Escrow & Bulk Sale Services - CA

California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.


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Successful Liquor Store Buyer: Shares Liquor Store Buying Tips With BizB...
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Article On Buying C-Stores: Finding Moneymaking Convenience Stores
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