How To Create a Liquor Store Business Plan

The next section of your liquor store business plan should showcase what you learned during the market research phase. Specifically, it should explain who your customers and competitors are. 

First, let’s talk about your customers. Your business plan should highlight your target customer, their demographics, and how your liquor store will fulfill their wants and needs. It should also estimate your liquor store’s market size — which is how many customers (and how much revenue) you expect to win. 

This section of your business plan should also include a competitor analysis. List other local liquor stores within a certain radius and explain how you’ll differentiate your business — whether you plan to offer better customer service, lower prices, or a more curated selection of spirits.

The right selection of spirits is what brings customers through your business’ doors and keeps them coming back — which is why your liquor shop business plan should include a detailed overview of your inventory plan. 

List the brands and sizes of wine, beer, and liquor you plan to stock, as well as any mixers and accessories like shakers, glasses, and cocktail recipe books. You should also explain your pricing approach, including your estimated inventory costs, markup strategy, and projected profit margins. 

This section should also outline your liquor inventory management strategy. It should detail how you’ll track inventory levels, prevent stockouts, and handle overstocking issues. 

Your liquor store business plan should also include a tentative planogram. This asset maps your liquor store’s floor plan and shows where and how you’ll display each bottle.

Your liquor store business plan should include a comprehensive financial plan. 

First, estimate your startup costs. Include the cost of renovating and furnishing your space, securing your liquor license, and stocking the shelves with initial inventory. 

Your next step is to create a cash flow projection. This part of your liquor store financing plan should answer two critical questions: How much will you spend to keep your liquor store running, and how much will you make in monthly revenue?

You can use your startup cost estimation and cash flow projection to identify your liquor store’s breakeven point — which is when you’ll begin turning a profit.

One common mistake to avoid is writing a liquor store business plan that ends with your grand opening. Instead, your plan should include a list of goals and how you plan to achieve them. 

For example, your first short-term goal might be to bring a steady flow of customers through your store’s door. To accomplish this, you need to implement specific marketing techniques for attracting new shoppers — like launching a website, claiming your Google Business Profile, or offering a new customer discount.

Later, your focus will shift to retaining customers through strategies like a customer loyalty program or convenient pickup and delivery services. 

Regardless of your goals, our number-one tip is to track specific metrics. Monitoring your foot traffic data, average basket size, customer retention rate, and overall revenue will help you understand your liquor store’s sales performance, chart your growth, and set new goals.