Did you search business plans liquors store looking for clues on how to put together a business plan to fund your start-up liquor store? Liquor stores are part of a timeless industry, and unless you're setting up shop in an area that's already densely populated with them, you should have a decent shot at an SBA loan if you go into the meeting with decent credit, collateral, and a strong business plan. So what goes into a strong business plan for a liquor store? First of all, look seriously at the target market. What is the need there? Who will patronize you? What is the state of the industry locally? Next, list out the liquors you expect to carry and the price points and margin sales you can command. Next, flow that information into a financial pro forma (software or Excel model) and input your likely expenses. How does the profit look? A bank will want to see break-even in about a year, so make sure the benchmark is realistic for you. Other considerations:
• - What marketing strategies can you use to get noticed?
• - How many competing liquors stores are there near the location you have in mind?
• - What about second-tier competition like wine stores, mini-marts, and so forth?
• - What personnel needs will you have for three years?
• - Write up your bio as an executive team member.
• - When should the loan payoff be complete?
The financial model should use industry averages and proven figures wherever possible, but remember that it's still just a pro forma projection – nothing is exact. Need help developing the model or showing what your competition will be? MasterPlans can help you. We have worked on thousands of retail business plans including dozens of liquor stores. You can be at the bank, ready to go, sooner than you imagined with the help of our experienced team of in-house professionals. Call for a free quote today! 877-453-2011.
