Starting any business is undoubtedly a huge task, and a wine-related business like a wine bar or retail wine business is no exception. Keep in mind that starting a wine business is an expensive, competitive, and tough endeavor that is more difficult than your current job.
Like it or not, it requires a few years of planning and saving, and a few years more before you can actually turn a profit. What’s more, is that these are only the initial steps. Once your wine business is up and running, it demands a massive amount of luck, dedication, and work.
For a little help, we’ll walk you through some of the necessary steps of how to start a wine-related business. So, take a read!
Starting a Wine Bar Business
Wine bars have become increasingly popular spots to sip and dine or hang out. It’s mostly because of the influx of interest in everything that has to do with wine. A wine bar business cannot only be pleasant to run but extremely profitable.
Whether you are in a small city or in a large metropolitan area, you can open a wine bar with dedication and thorough planning. When starting any kind of business, it’s recommended to learn as much as possible about what you are selling.
For wines, you must learn the different varietals, glassware, how they’re made, food pairings, how to store and serve them, and how to taste them. You can attend an online or local wine school, subscribe to wine publications, or read books. The more you know about wine, the more you can entertain and educate your customers.
Next, pick a niche for your wine bar. For example, you can feature bottles of wines from other countries, like Flagey Echezeaux wine. Or you can open a wine bar that hosts gatherings and events or a casual wine bar. After choosing a niche, select a location for your business. The ideal spots would be locations near entertainment like dance clubs, art galleries, and billiard halls.
Then, get the necessary permits to run a wine bar. Normally, you’ll need to get a liquor license, resale permit, food enterprise permit, employer identification number, and so on.
Moreover, create a menu for your bar. Of course, you don’t want your customers only to enjoy wine, since they’ll become drunk quickly. If selling full meals is not your option, then consider offering tapas, cheese, and crackers, or appetizers.
Be sure to buy wines you want to serve from a wine distributor and buy decorations for your bar. Lastly, don’t forget to promote or advertise your wine bar.
Starting a Retail Wine Business
A lot of people dream of turning their hobbies and passions into a business, enabling them to do what they like while making money. With that said, for wine enthusiasts, a retail wine business could be a perfect way to share your know-how about a good wine with others, while making money to pay the bills.
Just like any kind of business, opening a retail wine store can be difficult. However, for those people who are more than willing to invest their effort, it can offer many rewards, both personal and financial.
To start, you need to know the liquor license process in your state because before you can sell a bottle of wine, you need to get a liquor license. Take note that this can be a lengthy process. Next, look for a location.
Find a building that’ll shelter the wine you want to sell plus any events you would like to convene in your store. Be sure to inspect the zoning of the building and consider the parking availability and foot traffic.
After that, you need to purchase stock. Perhaps, you’d want to sell varieties from all over the world or local wines. Take the time to visit vineyards and wineries to choose brands you think will sell.
Moreover, you need to hire knowledgeable employees. Get people that can discuss the basics of wine. Make sure to train them on the systems, products, and services you would want to apply to organize your business.
Lastly, build your store and operate your business. Pick designs, wine racks, and furnishings that meet your budget. Of course, after your sales pick up, you can always upgrade your things.
Takeaway
Starting a wine-related business needs more money than you think you do. Say, for instance, if you start a vineyard from scratch, keep in mind that it can take at least four years before you can produce a commercial drop. Also, the winemaking process can last at least two years.
Ultimately, if you plan to start a wine bar or retail wine business, know that it takes years of planning and saving before you start turning a profit. Thus, patience, dedication, and commitment must be observed.
