RETAIL WINE STORE BUSINESS PLAN SAMPLE
Are you planning on starting a wine business? Do you want to establish a wine store online? Then having a business plan for the wine store is paramount.
In this post, I will give a wine shop business plan sample that can be used as a guide in writing your business plan.
Here is a sample business plan for starting a beer and wine store business.
BUSINESS NAME: Success Wine Store
TABLE OF CONTENT
- Executive Summary
- Business Description
- Vision Statement
- Mission Statement
- Product and Services
- Market Analysis
- Business Structure
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
- Conclusion
EXECUTIVE SUMMARY
Opening a wine store is the type of business that thrives and succeed in communities where its residents consume wine. The business is basically about selling pre-packaged alcoholic beverages to customers who are likely to take it somewhere else to consume.
The business can either be started on a small scale or be launched as a standard wine store with outlets in different good locations. A wine store business is not the type of business that requires its owner to struggle to grow the business once the important and necessary steps are taken before the business is started.
Most States have regulations in relation to the sale and consumption of wine and other alcoholic beverages although it varies from one state to another. For instance, most states in the United States of America have laws that clearly states the type of alcoholic beverages that must be sold in wine and liquor stores.
The wine, liquor and beer industry is a very large and well thriving industry in every parts of the world. It is a profitable industry that is always opened for aspiring entrepreneurs to establish his/her business.
BUSINESS DESCRIPTION
Success Wine Store is a family business that is owned and managed by Coker Williams and his immediate family members. Coker Williams is a graduate of Business Administration and has experience by working with one of the leading departmental stores. He is determined to bring the use his experience and expertise to build Success Wine Store to compete well with other leading wine stores in Boston.
Success Wine Store is a well standard and registered business that will be located in Boston most especially in the newly constructed area where retail outlets are much needed. The business will focus specifically on providing excellent customer service through the availability of different types and quality of wine and competitive pricing.
We are aware that the newly forming Boston residential area are in need of neighborhood retail outlets and store so the Wine Store has been able to get a facility in the area in order to be distinguished from competition and capture market share.
Success Wine Store is in the business to make profits and also at the same time give to the customers the value for their money and time by giving customers the opportunity to choose from a wide range of drinks that are manufactured both in the country and other parts of the world.
VISION STATEMENT
Our vision is to establish a wine store in Boston that serves as a one stop, that is, the best wine store in the State.
MISSION STATEMENT
The mission statement of Success Wine Store is to develop the best location and outlet to buy wine in Boston. The store will make good use of bestselling products, match profitability to service levels, manage cash flow very well and optimize relationship between supplier(s) and distributor(s).
Success Wine Store also aims at achieving the following:
- Making and maintaining Success Wine Store as one of the best stores in the trade of wine in Boston.
- Having talented, motivated, hardworking and responsible staff.
- Achieving a profitable return on investment within first three years of operation.
PRODUCT AND SERVICES
Success Wine Store will operate a standard and licensed wine store that retails a wide range of alcoholic and non-alcoholic wines, beers, and liquors. Some of the products that will be provided in our wine store are:
- Red wines
- Alcoholic and non-alcoholic wines
- Liquors
- Distilled Spirits
- Martinis
- Tobacco
- Non-alcoholic beverages
- Locally crafted beers
- Beers
MARKET ANALYSIS
Target Market
Success Wine Store will be situated at Boston offering full retail service to the residents. New construction of houses has been robust in Boston for the past few years which has also led to the formation of new communities. As the population increases, the need for neighborhood stores and outlets also increases and this is one great opportunity for Success Wine Store to grow and capitalize on the trend.
Success Wine Store is in business to offer services to a wide range of people, some of which are:
- Business people
- Celebrities
- Government Officials
- Sports people
- Tourists
- Students
- Every adult in the neighborhood
Market Trends
In this age of online community, it will do really good to the business to have an online presence by blogging frequently about your business, this will create more awareness for the business and also make people see you as an expert in your field of business.
Also, an online outlet can be created for people to order online for their choice and this will be supported by an effective and efficient home delivery system. You can also achieve publicity via Instagram, Facebook, and so on.
SALES AND MARKETING STRATEGY
Since Success Wine Store is new in the wine and liquor industry, we will ensure that the following services are provided to ensure rapid growth of the business.
- our customers will be given special and quality treatment whenever they patronize the store.
- A CRM software that will enable one on one relationship with our customers will be provided.
- Our customers will definitely be involved in the process of selecting wine brands that will be made available and also when making business decisions that might affect them directly or indirectly.
- In everything we do, our clients’ interest will come first and everyone working in Success Wine Stores will be guided by our values and professional ethics.
BUSINESS STRUCTURE
Success Wine Store is really focused on putting the right structure in place to support the growth, mission and vision of the business. The business will ensure that only honest, qualified, hardworking and customer centric people will be employed to help build a successful business that will be advantageous to all stakeholders.
A profit sharing arrangement will be provided to all the staff and it will be based on individual’s performance for a period of seven years. Therefore, we have decided to hire qualified and competent people to occupy the following positions:
- Chief Executive Officer (who happens to be the owner)
- Store Manager
- Merchandize Manager
- Sales and Marketing Manager
- Information Technologist
- Cashiers
- Cleaners
FINANCIAL PLAN
The store needs about $200,000 to be able to start the business in full swing and we have been able to get 80% of the startup fund and the remaining 20% will be gotten as loan from the bank.
COMPETITIVE ADVANTAGE
Due to the high level of competition in the wine, liquor and beer industry, Success Wine Store has decided to stand out and above competition by choosing a location that is advantageous to the business and also by deciding to ensure that wine of different categories and types are available at all times including those that are produced in other parts of the world.
SEE: Business Plan for Wine Consultants
CONCLUSION
This is a typical wine store business plan sample that is real useful and important for the wine business. This business is owned by Coker Williams and will be located in Boston.