Running a liquor store can be a profitable (and fun!) endeavor, but success in the industry depends on implementing effective and efficient processes.
Whether you’re starting your liquor store journey or are simply looking for tips to boost your small business, we’ve got you covered as you learn how to run your liquor store.
Let’s dive into six essential steps for running a thriving liquor store.
1. Choose the Right Tools
To make an excellent cocktail, you need the right ingredients and equipment; a great martini requires a shaker, and the perfect minty mojito requires a muddler.
Running a successful liquor store is similar: You need the right tools for the job.
The cornerstone of your liquor store is a point of sale (POS) system. Along with processing sales transactions, your POS system is responsible for handling everything from inventory management to customer loyalty.
That’s why it’s so important to choose the right solution for your business’ unique requirements. If your goal is to become the neighborhood’s go-to stop for alcoholic beverages, a one-size-fits-all POS solution won’t cut it; you need a POS system designed for the liquor industry.
Liquor POS systems include features like automated invoicing, age verification, and a liquor-specific e-commerce integration that are built specifically with the needs of liquor store owners like you in mind.
Helpful Resource: 7 Crucial POS System Features Every Liquor Store Needs
2. Stock Your Liquor Store
One of the first and most important decisions you need to make about your small business is what kinds of products to sell. Will your store focus exclusively on spirits and offer the finest whiskeys and bourbons? Will it be a one-stop shop for liquor, mixers, and other drinking accessories? Is your business a boutique shop for wines and craft beers?
Identifying what sets your small business apart from the competition will inform your inventory choices. But choosing which liquors to stock is only half of the equation; you also need to implement effective processes to manage your inventory and keep your store well-stocked.
To wrangle all those bottles, you need robust inventory management software. Liquor store POS systems offer real-time inventory tracking that follows each bottle from the moment it arrives at your store to the minute a customer takes it home.
Features like automated invoicing and receiving also cut down on time spent managing your inventory, and help you ensure that your customers’ favorite liquors are always waiting on the shelves for them.
3. Manage Your Team
Your employees are the key to running your liquor store smoothly. From restocking your shelves to providing excellent service to each of your customers, they play a foundational role in your business’ success.
That’s why you need the right tools to manage them effectively. Integrated time clocks make it easy for your employees to track their time, and they make your job easier when it’s time to do payroll. Flexible permissions is another liquor POS feature that allows you to set access levels for your employees to ensure your business’ security.
Liquor POS system features like these save you time, keep your store secure, and ensure that everyone on your team can work efficiently.
4. Build Customer Loyalty
The best way to grow your store and boost your sales is to generate repeat business — which is why one of the most critical parts of running a liquor store is to create a customer loyalty program.
Loyalty programs reward your customers for choosing to shop at your liquor store, encouraging them to visit more often and spend more per visit.
Your POS system should make it easy to set up, customize, and monitor the success of your customer loyalty program. Plus, a loyalty program that’s integrated with your POS system provides you with detailed insights into your customers’ preferences and shopping habits, empowering you to make informed inventory and marketing decisions.
5. Comply With Alcohol Sale Regulations
In the liquor industry, complying with laws regulating the sale of alcohol is paramount. Selling alcohol to underage customers can lead to hefty fines and penalties — jeopardizing your liquor store’s success.
That’s why you need an easy and accurate way to verify customers’ ages. To help you stay compliant with the law, liquor POS systems offer built-in age verification.
At checkout, your employees can enter a customer’s date of birth into your POS system to ensure that the sale is legal. For an additional layer of legal protection and to speed up the checkout process, you can also invest in an age verification scanner.
6. Monitor Your Liquor Store’s Growth
If your goal is to run a profitable liquor store, you need a way to monitor your business’ growth over time.
Luckily, your POS system is the right tool for the job. Within your liquor store POS system, you can choose from a variety of detailed reports, allowing you to see your sales, top-selling products, and more.
These reports can help you fine-tune your inventory, operations, and marketing strategies to increase your liquor store’s profitability.
How To Run Your Liquor Store With a Top-Shelf POS
Now that we’ve covered how to run a liquor store, you might be feeling a little overwhelmed by your to-do list.
Fortunately, your POS system can be an invaluable business partner on your journey. Choosing the right point of sale solution for your liquor store will save you countless hours and help you operate optimally — giving you all the tools and resources you need to take your business to new heights.
To learn how Bottle POS can help you run your liquor store, schedule a live, personalized demo today with one of our liquor industry experts.
