Born in Chicago, Clare Archer has a background in art history, music, investing, travel and personal finances.She has written professionally since 2004 and her work has been published in publications such as "Creative Loafing" and Daily Kos.Smaller wine shops wishing to establish a repeat customer base should pick select wines in various price ranges valued for popularity and a smaller selection of exclusive wines.
State liquor licenses often require owners to keep in-stock inventory within a certain range or product type, and that owners purchase the alcohol only from a licensed wholesaler.
High-end specialty stores incur higher start-up costs because of price points of the product, but can end up with a higher profit margin in product sales.
State laws often require owners buy items from licensed vendors, and might have different restrictions on purchases of beer or wine versus hard liquor.
Small-business owners familiar with state purchasing guidelines can avoid potential delays or mistakes with product purchases.
Wholesale alcohol prices fluctuate widely based on the type of alcohol, quality, availability and quantity bought.
Despite the wide variety and cost of products available, small liquor store start-ups can properly stock inventory by making purchases based on the business plan, mission statement and budget.
Business owners often joke that the liquor business is recession-proof, but stocking store shelves with inventory that doesn't sell won't elicit much laughter.
Learning about how much start-up inventory is recommended for a small liquor store will help you save time and money.
Given the nature of the retail alcohol industry, it's easy to go overboard in start-up inventory costs with the hope of attracting more clients.
Liquor store start-ups should have obtained a liquor license before purchasing inventory.