Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$5,600

$20,400

Equipment & Supply Expenses

$66

$700

Retail Business Expenses

$1,250

$11,650

Inventory Expenses

$350

$14,750

Software Expenses

$162

$3,094

Advertising & Marketing Costs

$75

$5,286

Food Business Expenses

$300

$1,400

Total Startup Costs

$8,177

$71,847

Liquor Authority

sla.ny.gov

573

Pennsylvania Liquor Control Board

lcb.pa.gov

2,832

Diageo

diageo.com

83,276

Liquorland

liquorland.com.au

99,542

Saucey

saucey.com

112,964

Beam Suntory

beamsuntory.com

167,830

Bacardi

bacardi.com

187,616

Deutsche Beverage

deutschebeverage.com

272,272

Mission Wine & Spirits

missionliquor.com

279,460

home

bcldb.com

283,742

Brown-Forman

brown-forman.com

289,564

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Unlimited income potential

With starting a liquor company there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.

Predictable income stream

Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!

Location is everything!

When operating a physical storefront, the location often speaks for itself and serves as it's very own marketing tool! It's important to choose a location in a high traffic area so you can spark curiosity and get people through your door!

You can sell your product in various places!

There are various different markets to sell your product, which will help you reach different audiences and revenue streams.

Longer Sales Process

A liquor company can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Security Issues

With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.

Taxes

As a liquor company, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

You may need to charge sales tax

If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out this article

Strict regulations

With any liquor company, there are strict rules and regulations as it relates to processing your product. You must follow these regulations specifically, or significant legal issues could occur.

Be prepared to get out of your comfort zone!

Although this is exciting for some entrepreneurs, it can be a big challenge for others! You may find yourself in uncomfortable social and business situations, jumping into tasks and responsibilities you aren't familiar with, and pushing yourself as far as you can go!