If you own a liquor store, you may be having a hard time brainstorming and coming up with a plan to grow and expand your store. There are many ways you can accomplish this if you invest in the right things. Here are a few ideas on how to grow your liquor store business.
Create Your Own Brand
Brewing and distilling your own spirits to sell in your store is a great investment to make to build a local namesake. The initial investment for equipment and supplies may be a little steep, but when you are in control over the entire process it also means you maintain the entire profit margin. A lot of people are interested in trying local selections, especially if your business is in an area that has any sort of tourism.
Wine Or Beer Club
Monthly boxes are a huge trend sweeping the nation with industries from beauty to outdoor recreation. The alcohol industry is no different. Staring a beer or wine club allows customers to engage in a fun activity once a month by trying new beverages outside of the store. Many people find intrigue in the convenience of it shipping straight to their door, and they love the mystery and surprise involved. There are a few considerations to make when offering a club like this. Obviously, the product should be offered at a slight discount from the regular retail price to make it worth it. You should also provide a questionnaire to ensure that each customer gets beverages based on their likes and does not receive anything that they don't care for.
What goes better with wine than meats and cheeses. Charcuterie boards are a huge growing trend that are sweeping the nation. Having a selection of finely crafted meats, cheeses, crackers, fruit and other options to pair with wine, beer and liquor options will increase sales exponentially. It will make your liquor store the destination store for “one stop shopping” for many hostesses in your local area before their next event or girls night in.
Offering special events and classes at your liquor store can boost sales and bring you new and loyal customers. You’re probably wondering what kind of classes a liquor store could offer if any. There are actually a variety of classes that you can offer at your liquor store to increase foot traffic. Some examples are:
- Mixology classes
- Beer making classes
- How to plate a charcuterie board
- Wine basics with tasting
Many of these events sound like they’d be expensive to host, and they may be, but you can charge a fee for attendance and offer some of the products you’re featuring at a slight discount at the end of the night. This will make your store a popular date night spot.
Beyond classes, you can also host tasting nights. You can use these nights to draw in more customers and foot traffic on a night that would usually be a bit slower. At a tasting you should offer samples of new products and other notable products that aren’t being purchased frequently. This is a great way to get your customers hooked on new items. You should also stick to a theme. Don’t offer too large of a variety and confuse your customers, there are plenty of nights to offer multiple tastings of all varieties. Another rule of thumb is to offer some sort of finger food along with your beverage samples. Make sure all food offerings pair well with your drink.
Download our investment guide for additional tips on growing your liquor store!