Operating a booze shop isn’t a terrible option if you’re looking for fresh business prospects in Texas. Because many varieties of alcohol are unavailable in conventional supermarkets, liquor stores provide shoppers with a broader range of possibilities.
Prepare a business strategy for your liquor shop. This plan shows your business’s expenses and profits from the beginning to the conclusion of its life cycle. These estimates will assist you in determining whether you are hitting sales targets and will also be required if you wish to seek finance.
Create a company by forming a corporation, single proprietorship, or partnership. Obtain a federal employer identification number from the Internal Revenue Service and a Texas Comptroller of Public Accounts sales tax authorization.
Find a decent spot, particularly in a busy neighborhood. Locations more than 1,000 feet away from a public school must be bonded for $5,000, while those less than 1,000 feet away must be bonded for $5,000. A few blocks can make a significant difference in your startup expenses.
Sign a lease for the place of your choice. Make the lease conditional on obtaining a liquor license if at all feasible.
Make an appointment with the TABC for a pre-licensing interview. You, your partners, and other investors should attend the interview to clarify your obligations as a liquor store while also discussing and giving the documentation required for your application.
If the site hasn’t served booze in the last two years, post given signs conspicuously in the windows for 60 days before acquiring your liquor license. This 60-day notice must be displayed so that the public is aware of the approaching license hearing. Arrange for TABC inspectors to check the location at this time, as required by law.
Find an appropriate beer, wine, and liquor distributor to serve your establishment. Larger firms, such as breweries, may manage their distribution rather than relying on a third party, so you may need to interact with many providers.
Attend a license hearing at the courthouse in your county. Your application must be authorized in court, and public members may object to licensing at this point.
Place your initial orders with your preferred distributors. Many wholesalers may be able to help first-time orders to ensure you choose a diverse range of brands that are likely to sell.
Opening a Liquor Store in Texas
Many individuals appreciate a glass of nice, high-quality alcohol, yet businesses that sell it are few. Most individuals will wish to buy a high-quality alcoholic beverage at some time in their life, whether for a present, a special event, or for no reason. Whether you are an alcoholic, owning a liquor shop might be a great idea. If you’ve been thinking about operating a liquor shop in Texas, keep reading to learn where to begin.
Investigate Insurance Options
Before you start your firm, contact a Texas liquor liability insurance provider to inquire about your industry’s rates. There are several alternatives for insuring your company, but you may undertake a risk assessment to determine which ones you will require.
Create a Business Plan.
Spend time focusing on your business plan and be prepared to go over it and make modifications multiple times before you are entirely prepared to launch your company. Your business strategy should account for both growth and setbacks, so ensure that your firm can continue to operate without interruptions.
Determine an Appropriate Location
Finding the ideal location for a liquor store does not have to be difficult when you have a priority checklist. When looking for a location, visit as many as possible and ensure that your chosen property meets all of your requirements. A $10,000 bond is required if your store is within 1000 feet of a public school, whereas a $5000 bond is required if it is more than 1000 feet away.
Obtain a license and permits
Make an appointment with the Texas Alcoholic Beverage Commission (TABC) for a pre-licensing interview. The TABC will offer signs and notifications to put in your business window for 60 days if you choose a storefront that has not sold booze in the previous two years. Make an appointment with the TABC for an inspection after the pending hearing for your liquor license. You must also apply for a new permit with the Alcohol and Tobacco Tax and Trade Bureau (TTB).
Register Your Liquor Store Legally
You must create a legal company for your store to act as a real business. A single proprietorship, general partnership, limited liability company, or corporation can be formed. If you are unsure about the legal structure to use, you may seek advice from specialists such as business or tax attorneys. After settling on the best business structure, register your company with the Secretary of State and the Chamber of Commerce.
Maintain Accounting and Banking
Open a corporate bank account to keep your finances distinct from your firm’s. If you want to obtain a line of credit for your liquor store, look into your alternatives when selecting a bank. Money is critical. Therefore, hiring a business accountant is one of the finest things you can do for your company, especially if you are unfamiliar with finances.
Begin Creating Your Liquor Store’s Brand Identity
There are numerous liquor stores, but there must be something that distinguishes yours from the others. Certain aspects of your liquor shop will become familiar to customers over time. Your brand identity is what distinguishes your store from the competition. Therefore focus on developing your brand.
Concentrate on Your Marketing Strategy
Many businesses would not be where they are now if it weren’t for their marketing plan. Hire an expert if necessary to ensure you can reach your target audience.
5 Expert Tips for Starting a Liquor Store in Texas
Before we begin, you should be aware that the most successful liquor shop owners invest in the proper instruments from the beginning.
A liquor shop POS system is one of the most critical instruments for starting and growing your business. However, when choosing a POS system for your liquor shop, emphasize service providers who provide industry-specific capabilities like mix and match bottle pricing, case break inventory management, age verification, etc.
The advantages of a liquor shop POS system are practically limitless!
Aside from purchasing a liquor business POS system, these are the five crucial actions you must take to start a liquor store in Texas.
1. Obtain a liquor store license.
Begin by obtaining a liquor business license. A liquor license is required if you want to start a liquor business in Texas. Unfortunately, getting a liquor license in Texas is easier said than done.
The number of distributed liquor licenses is usually limited in most cities and municipalities. To make matters worse, obtaining a liquor license might cost hundreds (or even thousands) of dollars. As a result, we encourage starting the application process as soon as possible.
Consult the Alcohol Beverage Control Board’s statewide directory for links to your state’s liquor authority. Contact state and local regulatory bodies to determine the type of liquor license you require and for more information on the Texas liquor license application procedure.
2. Apply for a Small Business Loan
Get a small business loan to jumpstart the success of your new liquor shop. The correct small business loan may position your company for a prosperous future. Furthermore, applying for a loan is pretty simple.
Here are some financing possibilities for your Texas liquor store:
- Kiva
- Fundera
- OnDeck
- Fundbox
- Lendio
3. Employ and Train Employees Next, hire and train your expanding workforce.
Getting your crew “up to speed” is vital to the success of your new liquor shop — and POS Nation provides an incredible array of free materials for understanding the ins and outs of your liquor business POS system.
Furthermore, our team of professionals will work with you to ensure that you get the most out of your new system. Discover how simple it is to use our contemporary POS system, from system training and onboarding through administration.
4. Create and Implement a Marketing Strategy
Successful liquor business is predicated on a solid marketing strategy.
If committing to a marketing plan makes you nervous, realize that there are many simple ways to generate sales for your new booze store.
The nice thing is that many of these marketing strategies may be used in conjunction with your POS Nation POS system. We advocate, for example, establishing a promotional campaign. Simply construct a discount code outside the POS system, distribute it, and watch your sales increase!
Other areas of your liquor shop marketing may be easily managed with our system, including email campaigns, customer loyalty rewards, gift cards, online purchasing, and more.
5. Choose a Point-of-Sale System Partner
Finally, invest in a contemporary point-of-sale system.
The “greatest” liquor store POS system for your business provides the distinct features that you are expanding booze store needs. We recommend consulting third-party organizations, like Capterra and Consumer Affairs, to hunt for the best POS system. This is an excellent opportunity to hear directly from users of the system.
We also recommend arranging a product demonstration. Providers are eager to meet with you to discuss your specific requirements in most circumstances. This is an excellent time to ask specific questions about the product’s features and capabilities.
Texas POS Nation Powers Liquor Stores
There’s a reason why more liquor shop owners choose to power their company with POS Nation. We’ve assisted thousands of company owners just like you in launching and managing a successful enterprise.
It all starts with purchasing the appropriate POS software and hardware.
How does your POS system compare to the finest in the industry? Perhaps this is your first time investing in a point of sale system.
We recommend obtaining our free eBook, The Guide to Liquor Store Inventory Management, as a next step.
This handbook will provide in-depth information on the most recent inventory management best practices. Use this professional advice to better understand the characteristics you should look for in a potential liquor business POS system.
Conclusion
Texas may be a competitive environment for many different businesses, but this has only spurred new ideas. Opening and maintaining a liquor store in Texas might be difficult, but nothing can stop you if you set your mind to it and want to do it well. Now that you know everything there is to know about operating a liquor shop in Texas, you can take the first steps and watch your business flourish.