Liquor Store Business Plan

9 Chapter Business Plan Template in MS Word, Google Docs and MAC Pages
Pitch Deck Template in PowerPoint, Keynote & Google Slides
5 Year Financial Model Template in MS Excel, Google Sheets and MAC Numbers
Financial Dashboard Template in MS Excel, Google Sheets and MAC Numbers
Business Model Canvas Template in MS Excel, Google Sheets and MAC Numbers
SWOT Analysis Template in MS Excel, Google Sheets and MAC Numbers
Competitive Analysis Template in MS Excel, Google Sheets and MAC Numbers

I.- Liquor Store Executive Summary

Business Overview

[Company Name], located at [insert location], will be a community and quality-focused liquor store brand based out of Atlanta, GA. [Company Name]’s liquor store business plan focuses on offering customers a unique alcohol buying experience. [Company Name] will offer the widest selection available in the area and the liquor store will seek to provide a friendly, inviting, and consultative environment that offers affordable pricing.

Services

Products offered by [Company Name] will include a broad range of whiskey, cognac, vodka, tequila, rums, Champagnes, wines, and beers. Luxury and mainstream brands will also be available at a fair and affordable price. Wines and liquors are the company’s primary product offering, however [Company Name] will supplement retail sales with an alcohol catering division. The alcohol catering division will supply and serve alcohol for events such as benefits, private events, parties, etc. in the Atlanta metropolitan area.

Customer Focus

Based on our liquor store business plan, [Company Name]’s target market will be residents aged 21 and older who live within a 10-mile radius of our store. [Local area] has 416,000 residents with demographics that include 1,750 workers who do not live in the neighborhood, and a median age of 34 years. Residents have an average income of $54,700, 38.9% are married, and 49.6% hold a professional occupation.

Management Team

[Founders Name] currently manages [Company Name] and has been in the liquor store business for 20 years. Though [Founder] does not have experience in starting a small liquor store, he was the assistant manager to another store and has the necessary in-depth knowledge of the liquor store business to put into action a liquor store business plan. [Founder’s Name] also has experience in both operations and management side of the liquor store business.

Success Factors

Thanks to [Company Name]’s location, management team, lack of quality liquor stores within the area, and proven liquor store business success, [Company name] is uniquely qualified to succeed. [Company Name] has secured a location in a high-volume area with little direct traffic and therefore will be highly convenient to access for passersby. [Company Name] also has a top-notch management team that has a track record of success. Additionally, there are currently no quality liquor stores within the community. According to data gathered from the local population, we are confident consumers within the community will frequent our store once opened. Finally, the liquor store is a tried-and-true business that sees success in the United States. [Company Name] is confident in the liquor store business plan that the team created and is ready to launch the business.

Financial Highlights

[Company Name] is seeking $330,000 in funding to launch its liquor store business plan. $165,000 will be used for store design, and the remaining $165,000 will be used for working capital such as salaries, marketing, and land costs until [Company Name] breaks even.

II.- Liquor Store Business Overview

Who is [Company Name]?

Located [At/In], [Company Name] will focus on providing a community and quality-focused liquor store brand based out of Atlanta, GA. [Company Name] has created a liquor store business plan template that will offer the widest variety of products available anywhere in the area and will create a niche product that will foster a friendly, warm, and consultative environment. [Company Name] will have a heavy focus on affordable pricing we will further focus on transforming the in-store alcohol buying experience for consumers and will seek to maintain a unique and distinctive brand identity to differentiate itself from its competitors. [Company Name] will also seek to change the consumer liquor buying experience through an upgraded sampling, handling, and delivery process.
[Company Name] will further transform the consumer alcohol experience by providing a large range of whiskey, cognac, vodka, tequila, rums, Champagnes, wines, and beers while also providing consumers access to luxury and brand name alcohols. [Company Name] will supplement retail sales with an alcohol catering service that will supply and serve alcohol for benefits, private events, parties, etc. in the Atlanta metro area.
Founded by [Founder’s Name], in [month] of [year] while on a trip to Fort Lauderdale, FL, [Founder’s Name] visited an independently owned liquor store that experienced tremendous success. [Founder’s Name] believed [Company Name] would experience similar success in [Insert location] after several conversations with the liquor stores owner and is confident in his ability to launch a small liquor store business due to his experience within the liquor store industry! After surveying the local area, [Founder] is further confident after receiving promising feedback from consumers within the local area.

[Company Name]’s History

Once [Company Name] returned from Fort Lauderdale, FL, [Founder’s Name] incorporated the company as an S-Corporation on [date of incorporation] and has since developed the company’s name, logo, and website. [Founders Name] further created a liquor store business plan that has determined the list of products to be offered, equipment, and inventory requirements, identified 20 potential suppliers, and received preliminary interest from them.

[Company Name]’s Products/Services

Below is [Company Name]’s initial list or product categories:

• Beer


• Wine


• Whiskey


• Cognac


• Vodka


• Tequila


• Rum


• Champagnes


• Ice

Besides the largest and most varied inventory in the county, the company will promise that the store either carries the customer’s alcohol of choice or can source it from an external third-party. This offer will successfully establish the company as the ultimate and final source for high quality, niche and rare alcohols in the entire area.

Design

[Company Name] will develop a 5,000 square foot store whose key elements will include the following:

• Main store


• Storage Room


• Coolers


• Tasting area


• Wine Racks


• Liquor Displays


• Check-Out Counter


• Restrooms

Below please find a rough sketch of the floor plan:

The retail location has 20 dedicated parking spots which should suffice even in peak hours.

[Company Name] plans to be open 7 days a week, from 10 AM to 7 PM. As demand dictates, we may extend or reduce our hours.

III.- Liquor Store Industry Analysis

[Company Name] directly or indirectly competes with all nearby liquor stores including big box retailers, convenience stores, and other liquor stores. Though [Company Name] will face a large number of competitors, [Founder]’s familiarity with the industry will assist in guaranteeing a successful liquor store business plan launch.

What you Get in Your Liquor Store Business Plan Package

Industry Statistics & Trends

Important industry facts that will attribute to the success of [Founders Name]’s liquor store business plan for [Company Name] include projected annual growth for the beer, wine, and liquor industry being 2.9% throughout the next five years, while US revenue for the industry stands at $44.7 billion and an industry net income of $3.8 billion. Consumers are further shifting away from restaurants, bars, and nightclubs and opting to drink at home. Findings point to an upwards trend in consumers drinking at home as this section of the industry rose by 9.3% and restaurants and bars experienced a 4.6% decline in 2010. Additionally, consumers are drinking an average of 10 drinks per month at home versus 5.7 drinks in bars and restaurants.
A successful liquor store business plan also considers how alcohol consumption within the United States is at an all-time high since 1985, with 67% of Americans considering themselves active drinkers. The industry has proven to be recession-proof as well when liquor store revenues saw a 9% increase in 2008 and a 1% in 2009. Experts anticipate growth within the liquor manufacturing and store business within the United States as this is coupled with deregulation of state-run liquor stores, increased consumer demand, and bolstered industry revenue. Consumers are seeking affordable alcohol as well.

IV.- Liquor Store Customer Analysis

Profile of Target Market

[Company Name]’s liquor business plan template will focus on serving the residents of [company location] and the immediately surrounding areas. The demographics within the area are more affluent than other areas and are therefore more likely to spend more on alcohol than the average community.

Demographics

The precise demographics of the town in which our retail location resides are as follows:

Customer Segmentation

There are a total of 313 million people with over 222 million of the population over the age of 21 years old and the major alcohol buying demographic are individuals between the age of 21 and 30. Consumers aged 31 to 40 are the second largest alcohol buying consumer group; these two demographic groups have been considered in [Founder’s Name]’s liquor store business plan.

V.- Liquor Store Competitive Analysis

Direct & Indirect Competitors

Liquor stores within a 10-mile radius of [Company Name] that are considered direct or indirect competitors include Sigel’s Liquors, Total Wine & More, and Goody Goody.
Sigel’s was founded in 1905, is a beer, wine, and liquor store based out of Atlanta, and has 10 stores in operation. Sigel’s also has a division in North Texas and is the most comprehensive full-service beverage alcohol distributor specializing in unmatched personal service. The company carries a vast selection of hard-to-find handcrafted spirits and includes more than 225 single-malt scotches, single-barrel bourbons, rare wines and cognacs, imported brandies, vodkas, and microbrews. Siegel’s focuses on providing consumers with a higher-end experience that offers a comfortable, elegant atmosphere. Sigel’s boasts of a warehouse and sales totaling more than $125 million last year while also having done a large portion of their business with restaurants. Additional services that Sigel’s offers include glassware (direct distributor for Libbey and Riedel), bar supplies and associated products, and day and nighttime deliveries six days per week.

Total Wine & More is Headquartered in Potomac, MD owns more than 9- stores in 15 states nationwide and in Canada, and offers wines, beer, and liquor products. On average, Total Wine & More sells 8,000 different types of wine, 3,000 kinds of spirits, and 2,500 varieties of beer. Additionally, Total Wine & More has 100 superstores and expects to continue expanding operations in areas that include Canada, Arizona, California, Texas, and New Mexico. By operating several retail locations, Total Wine & More can leverage its position and secure low-cost contracts with breweries, distilleries, and wineries, which can benefit consumers in the form of cost savings. Regarding expansion, Total Wine & More also plans to have at least two stores in Washington where a law was lifted that limited the state’s retail monopoly on liquor. Total Wine & More also offers wine accessories like decanters, as well as cigars and other products however according to their liquor store income statement, 57% of revenue come from wine sales.
Goody Goody is also another competitor, their business launched in 1964 and the company has since grown to be one of the major liquor suppliers at the wholesale level for higher-end restaurants and hotels in DFW. Currently operating 23 stores in the area, Goody Goody has since opened several other locations throughout the United States. Goody Goody’s inventory includes thousands of types of wines, liquor, and beer, and a walk-in wine room includes some rare bottles. The store offers tastings of several Texas-based Vodkas, Wines, and Bourbons, as well as many other liquid libations and exotic elixirs.

What you Get in Your Liquor Store Business Plan Package

Competitive Advantage

Advantages that [Company Name] has over its competitors include a high-end focused liquor store business model, a great management team, and coveted relationships within the community. [Founder’s Name] has created a liquor store business plan that has a sole focus on providing customers with high-end beer, wine, and liquor. The high-end liquor business is currently a fast-growing niche market segment and [Company Name] plant to take advantage of the market while providing a personalized, meaningful shopping experience. To further provide a more sophisticated, customer-focused shopping experience, [Founder’s Name] has organized a management team that has years of liquor retail experience and an in-depth understanding of liquors. Finally, [Founder’s Name] has lived within the community for 25 years and has created relationships with local leaders, newspapers, and suppliers, therefore, allowing for [Company Name] to quickly build brand reputations and awareness proving a successful future launch to [Founder’s Name] liquor store business plan.

VI.- Liquor Store Marketing Plan

The Marketing Plan describes the type of brand [Company Name] seeks to create and the Company’s planned promotions and pricing strategies.

The [Company Name] Brand

The unique value proposition [Company Name] will focus on includes personalized, curated beer, wine, and liquor selections in an intimate environment rotating products to offer variety and the latest selection, and providing excellent customer service. Each focus will allow for a positive liquor store financial model that turns a profit due to our unique, overall value.

Promotions Strategy

[Company Name] expects its target market to be those living within a 10-mile radius and plans to promote through direct mail, public relations, advertising, ongoing communications, and pre-opening events. Direct mail will reach consumers through a blanket neighborhood approach where neighborhoods within the area will receive direct mail pieces that include discounts and other incentivizing information that will pull consumers to our liquor store. Customers will further be enticed to visit through [Company Name]’s public relations approach where local newspapers and television stations will receive a press release describing opening events and the unique value [Company Name] offers. We will also build customer relationships through ongoing customer communications where [Company Name] will maintain a website and publish monthly email newsletters that tell customers about new events, products, and more.

Further, our liquor store business plan has included funds for initial advertisements where [Company Name] will initially advertise in local newspapers and sponsor community events to build awareness. We have also set aside finances to support our liquor store financial model that will allow for [Company Name] to organize pre-opening events designed for local merchants and press contracts. Pre-opening events will create buzz and awareness for [Company Name] while furthering customer and business relationships.

Pricing Strategy

[Company Name]’s liquor store business model has focused on pricing that will be appropriate for the high quality and level of service associated with the store.

VII.- Liquor Store Operations Plan

To launch [Company Name]’s liquor store business model, the Company will perform administrative and retail functions. Administrative functions will include legal, marketing bookkeeping, sourcing and managing supplier relations, and hiring and training staff. Retail functions will include customer service and checkout, gift-wrapping, gift certificate program management, and display stock, rotation, and design. Janitor and maintenance personnel will be employed to keep the store clean and up to consumer expectations.

What you Get in Your Liquor Store Business Plan Package

Milestones

[Company Name] expects to achieve the following milestones in the following [] months:

VIII.- Liquor Store Management Team

[Company Name], led by [Founder’s Name] who has been in. While [Founder] has never run a liquor store himself, he was an assistant manager at a liquor store previously. As such [Founder] has an in.

[Founder’s Name] who founded, [Company Name], has been in the liquor business for 20 years and has in-depth knowledge of the liquor business. Though [Founders Name] has not previously acted upon launching a liquor store business plan, he is qualified to do so through his experience as a store operations manager, flood sales, display design, retail marketing, hiring and training workers, liquor trends, and his ability to build relationships with suppliers. Additionally, [Founder] graduated from the University of ABC where he majored in Communications.

Hiring Plan

[Founder] will serve as the store manager and has determined an assistant manager, who will handle the store operations and manage the store during [Founder’s Name]’s days off, three check-out floor staff, and a part-time bookkeeper to manage accounts payable, create statements, and perform other administrative functions, will be necessary to launch his liquor store business plan.

IX.- Liquor Store Financial Plan

According to the finance section of the liquor store business plan template, [Company Name]’s revenues will come from alcohol sales and the major costs for the company will be the cost of goods sold (supplier costs), staff salaries, and rent for a prime location. In the initial years, the company’s marketing expenditures will be high to appropriately establish its place within the industry.

Capital Requirements and Use of Funds

[Company Name] is seeking financing of $330,000 to launch its store. The capital will be used for funding capital expenditures, manpower costs, marketing expenses, and working capital. The store design will utilize $165,000 of funding while working capital, which will be used for marketing, salaries, and lease costs will utilize the remaining $165,000 until [Company Name] breaks even.

Liquor Store Financial Plan Sources And Uses Report

Key Assumptions

Below please find the key assumptions that went into the financial forecast and a summary of the financial projections over the next five years.

Liquor Store Financial Plan Core Inputs

Liquor Store Financial Plan Top Revenues Report

Liquor Store Financial Plan Top Expenses Report

Liquor Store Financial Plan Income Statement

Liquor Store Financial Plan Cash Flow Statement

Liquor Store Financial Plan Balance Sheet Statement