Thinking about starting a liquor store business. Don't know how profitable it would be, but logic dictates most people like to drink. especially on weekends. Any advice and or experience in this area?
Looked into it a few years back (had no money, just a fantasy). Obviously gonna want a good location near peoples homes and commutes. If you live in a state where grocery stores can sell liquor/wine you probably won't want to be near one of those. Look up the laws on distribution where you live. In TN there is a three tier system where the brewers have to sell to distributors who can only sell to retailers. No one can skip these steps (except for "souveniers" you can buy at places like the Jack Daniels brewery in Lynchburg.) The only way to get a price advantage over your competition is to buy in bulk. So you have to have somewhere to store lots of inventory. This will increase your costs. From all the research I did, it doesn't seem like the kind of thing you can make good money at as only the owner. You will need other business or have to work there to get a decent livable salary.