so i want to open a liquor store, in Texas.

[zanejohnson]

i want you to be able to come in and buy DonQ @ 15 bucks 750ml, be able to buy Crown, Captain Morgain, or Grey Goose, but also be able to buy (what the guy above me quoted Buffalo Trace Antique) and other fine liquors, in the same location....it doesn't need to be big and flashy (like the existing establsihment), small, but, on point.

 

[Hoober]

You gonna be able to hook me up with access to bottles from the Buffalo Trace Antique Collection ?

F'ing Buffalo Trace and their BS Fireball siphoning nonsense can DIAF. So pissed about the lack of Buffalo Trace here lately.

 

[Carson Dyle]

Is there a shortage of liquor stores in that area?

32% of all liquor stores are losing money? So nearly 1/3 of liquor stores are either going to eventually go out of business or they're going to suck their owners dry. I'm not sure why that seems like a positive stat to you, unless you have very deep pockets.

I basically frequent two kinds of liquor stores:

1. The big 'warehouse' stores. Largest selection, best prices, (usually by a good margin), best sales.

2. Whatever is open latest when all the others are closed.

For others, it's convenience. The place next to the grocery store, on the way home from work, or the place 1/4 mile from home. If I get in my car and drive to the liquor store, I'd just as soon drive 2 miles as 1/4 mile.

 

[zanejohnson]

Is there a shortage of liquor stores in that area?

32% of all liquor stores are losing money? So nearly 1/3 of liquor stores are either going to eventually go out of business or they're going to suck their owners dry. I'm not sure why that seems like a positive stat to you, unless you have very deep pockets.

I basically frequent two kinds of liquor stores:

1. The big 'warehouse' stores. Largest selection, best prices, (usually by a good margin), best sales.

2. Whatever is open latest when all the others are closed.

For others, it's convenience. The place next to the grocery store, on the way home from work, or the place 1/4 mile from home. If I get in my car and drive to the liquor store, I'd just as soon drive 2 miles as 1/4 mile.

yep there is a shortage of stores in my area, closest town is 7 miles away, down a long FM road full of cops... i'm in a small country club/gated community, with another dry town of 6000, 4 miles the other direction......really the location is perfect..this is what swayed my decision, the restaurant business here is saturated, 4 sit down restaurants, + the country club restaurant (large, well managed, expensive)

the only 3 locations you can get liquor, are the country club bar, the newly opened hole in the wall (non local owned) liquor store...in a little shopping center/strip mall just outside the gate.... the location i found is right next to the existing liquor store... in a different building, just down the road... but on the side of the road closer to the neighboring town..

 

[Carson Dyle]

the location i found is right next to the existing liquor store... in a different building, just down the road... but on the side of the road closer to the neighboring town..

Proximity to other liquor stores will likely be a consideration in licensing.

 

[zanejohnson]

Proximity to other liquor stores will likely be a consideration in licensing.

good point, gonna look into that.

 

[allisolm]

Doesn't your criminal/DUI record preclude you from getting a liquor license?

 

[jlee]

Buy an MR2 instead. ATS Racing is in Denton. :awe:

 

[Insomniator]

How could only 68% of liquor stores be profitable? They are all over the place and never go out of business in my area. I've often joked to myself why don't I go open a liquor store.

Literally everything in the stores sell. Stand on a line and it it will be sketchy people buying cigs and 40's, kids buying cases of keystone and fireball, adults buying wine and whiskey etc etc...

Whats the profit margin on this stuff?

 

[preslove]

1. The whole profitability thing might be related to taxes, if the liquor license requires skimming some % of the profits. Better to pay the owner a larger salary as a manager, and then show a loss on the books, than to take it out as profits and get hit with capital gains AND local/state taxes.

2. You ain't gonna sell glassware in a liquor store. That'll get your license pulled real quick.

3. You gonna sell vinegar?

 

[SunnyD]

He understands the principal.

I have interest in your words.

 

[IronWing]

Doesn't your criminal/DUI record preclude you from getting a liquor license?

Probably. For some inexplicable reason, one has to be of good moral charactor to sell booze.

 

[CPA]

If you are a small business showing profits to the IRS, you are doing it wrong.

Also, book profits != taxable profits

 

[s0me0nesmind1]

3 Words: DON'T DO IT.

You will get steam-rolled by Specs. If you live in Texas you will know what chain of Liquor Stores I'm talking about. Unless you want some shack that you barely make live off of and sleep in for the rest of your life, then I guess go for it. I'm talking about this from a market perspective, I just don't think Texas is a good market to jump into for mom-n-pop liquor stores.

Also, do you know the by-laws and tax authorities when it comes to alcohol distribution? That is absolutely crucial if you're going to be doing this. Alcohol isn't just taxed based on sales tax charged to the end consumer last I recall.

 

[s0me0nesmind1]

If you are a small business showing profits to the IRS, you are doing it wrong.

Also, book profits != taxable profits

This guy must be a CPA

One of few people here that knows his shit.

 

[Rakehellion]

If you are a small business showing profits to the IRS, you are doing it wrong.

Also, book profits != taxable profits

How do you do it then?

 

[poofyhairguy]

Be careful with this. Texas alcohol is regulated to the moon. You say you have a liquor store, but you don't have what you need- a licence. Getting one is a battle.

 

[TwiceOver]

Are there any available Liquor Licenses? That's the first question. If not, be prepared to spend a boatload of money to get one.

BWW decided to open up shop here and didn't check Liquor Licensing, oops. The ended up paying through the nose to get a license from a local guy who then moved his restaurant to a beer/wine only license which is far less sought after and cheaper.

 

[minendo]

My father in law opened a liquor store in West Texas and the first few years it went great seeing as to how they were the only licensed store in the area. Once the "dry laws" were removed and gas stations, grocery stores, etc started selling beer/wine sales quickly declined as most of their business was in beer/wine. They have since sold their license and utilize the store front for a different business.

 

[monkeydelmagico]

If you have not worked in the industry for a while or plan on hiring an ace your odds of failure are much higher. Better get well educated quick. A really good source of information will be distributors. If you can find the right person on the inside who is willing to share info it's gold.

 

[preslove]

Doesn't your criminal/DUI record preclude you from getting a liquor license?

This is an issue.

How do you do it then?

Owner operator employs themselves as an executive and lives off salary instead of profits.

If you have not worked in the industry for a while or plan on hiring an ace your odds of failure are much higher. Better get well educated quick. A really good source of information will be distributors. If you can find the right person on the inside who is willing to share info it's gold.

This too.

 

[Drako]

How do you do it then?

Wow :hmm:



If you have to ask ...

 

[Schfifty Five]

Do they have a better definition of "Profitable" in that 68% statistic?

Profitable could mean they make $100,000 profit, or $1 profit. I totally do not know what the industry is like so that's why I'm asking. Is a $1 annual profit really worth it?

 

[Thump553]

How could only 68% of liquor stores be profitable? They are all over the place and never go out of business in my area. I've often joked to myself why don't I go open a liquor store.

Literally everything in the stores sell. Stand on a line and it it will be sketchy people buying cigs and 40's, kids buying cases of keystone and fireball, adults buying wine and whiskey etc etc...

Whats the profit margin on this stuff?

I was thinking the same thing. But I know in my state liquor stores (ie package stores in the local speak) are heavily regulated by the state and the number is limited. OTOH I don't think I've ever seen a package store go out of business here. Pay your taxes, comply with the laws (especially regarding selling to kids) and it's the next best thing to civil service for a guaranteed income for life.

You've got to be able to risk holdups and being shot, though.

 

[JulesMaximus]

Can't you just buy liquor at Costco or the supermarket like you can here?