Starting a liquor company requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell liquor, or selling liquor online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a liquor company ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$0||$7,000|
|Employee & Freelancer Expenses||$151||$352|
|Business Formation Fees||$5,600||$20,400|
|Equipment & Supply Expenses||$66||$700|
|Retail Business Expenses||$1,250||$11,650|
|Advertising & Marketing Costs||$75||$5,286|
|Food Business Expenses||$300||$1,400|
|Total Startup Costs||$8,177||$71,847|
|Pennsylvania Liquor Control Board||lcb.pa.gov||#2,832|
|Mission Wine & Spirits||missionliquor.com||#279,460|
|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](https://www.thebalancesmb.com/do-i-need-to-collect-sales-taxes-in-my-state-398913)|
|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!|
Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.
For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
A partnership is a formal agreement between two or more entities to oversee business operations and share profits and liabilities.
Creating strategic partnerships with an existing business can be a huge win for a startup.
This is considering that a partnership creates a new slate of future options for your startup.
On the other side, pursuit of partnerships could suck up a ton of time, and bunch of resources, and fail to materialize.
Therefore, entrepreneurs need to do proper research and evaluate the possibilities of achieving success through partnerships.