Surefire Tips for Making Lots of Money with a Liquor Store

Are you attempting to locate a business that won’t be badly affected by the present economic downturn? Everyone else is! So, grant me the privilege of sharing just one essential piece of advice with you.

Buy a liquor store.

Liquor stores are amazingly recession-proof, perhaps even more than any other sort of retail business. With experienced management on your part, you can sustain solid profits from your liquor store, even in really tough times.

People will still buy alcoholic beverages, even in a tough recession. Liquor sales stayed solid through the economic downturn of the mid-1980s, and they’re holding firm in the current economic market. People keep buying wine, liquor and beer, even when times become difficult. But let me put forth the following consideration:

Currently, people are spending carefully. The days are gone (or at the very least, they’re on hold) when most consumers would think nothing of paying $40, $50 or more for a bottle of wine to go with their evening meal, but don’t worry, that trend positions you to keep your profits strong, because:

The liquor business lets you adjust and adapt to buying patterns. You can offer an extensive variety of exceptional lower-priced products that appeal to customers today. If you’re an imaginative merchandiser, you can stock your stores with an innovative array of lower-cost wines, beers and other alcoholic beverages, ensuring your customers get good value for their money and never feel deprived. After all, they can still enjoy the adventure of buying and drinking interesting products, while saving money too! Just remember that you need to shop carefully for these products, while remembering to:

Supercharge your profits with low-cost, effective marketing. You can make a $30 profit on a case of economically priced Chilean wines, vs. $10 on a single bottle of more expensive French wine - and the marketing costs are the same for either selection! With the right kind of low-cost marketing (through sales flyers in local newspapers, or via an email newsletter that you send to your clients), you can sell a lot more inexpensive products in these tough times. Your customers will value you and the excellent value you provide. You can build your perceived value even more by following this next strategy:

Use great service and advice to increase sales dramatically. More customers these days are looking around for alcoholic beverages that are inexpensive, yet still really good quality. (This can be summed up with the simple word, “Value.”) This spells opportunity for you, the proud new owner of a thriving liquor store. You can become a student of wine yourself, hire experienced salespeople or just order prudently from the well-priced wines that you see reviewed in famous trade journals. Just remember to bring in customers with some innovative marketing strategies, such as sending your customers professional email newsletters that include discount coupons for selected products.

There are no small retailers, only retailers with small ideas! If you’re looking for a flexible, resilient business that will bring in solid profits in the current recession, and make even more money when the current recession goes away - look no further than a liquor store!

Richard Parker is the President and founder of the Diomo Corporation - The Business Buyer Resource Center. His inspiring materials, seminars and consulting have assisted thousands of business buyers with achieving their life-long dream of buying a business.