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Why a Liquor Store can be a Successful Business in an Economic Downturn
By: Richard K Parker

Are you trying to find a business that won't be unfavorably affected by the current economic slump? You should be! So, grant me the privilege of sharing just one essential piece of advice with you.

Buy a liquor store.

Liquor stores are incredibly recession-proof, maybe even more than any other kind of retail business. With smart management on your part, you can generate strong sales from your liquor store, even in difficult times.

People will continue to buy alcoholic beverages, even in tough times. Liquor sales remained solid in the recession of the mid-1980s, and they are still doing very well in the present day market. People keep buying wine, liquor and beer, even when times become difficult. But let me add the following thought:

Right now, people are economizing. The days are gone (or at the very least, they're on hold) when most consumers would think nothing of paying $40, $50 or more for a bottle of wine to go with their evening meal, but don't worry, that trend positions you to keep your profits strong, because:

The liquor business lets you adjust and adapt to buying patterns. You can offer an extensive variety of exceptional lower-priced products that appeal to customers today. If you're an imaginative merchandiser, you can stock your stores with an innovative array of lower-cost wines, beers and other alcoholic beverages, ensuring your customers get good value for their money and never feel deprived. After all, they can still enjoy the adventure of buying and drinking interesting products, while saving money too! Just remember that you need to shop carefully for these products, while remembering to:

Supercharge your profits with low-cost, effective marketing. You can make a $30 profit on a case of economically priced Chilean wines, vs. $10 on a single bottle of more expensive French wine - and the marketing expenses are the same for either choice! With the right kind of low-cost marketing (through sales flyers in local newspapers, or via an email newsletter that you send to your clients), you can sell a lot more inexpensive products in these tough times. Your customers will value you and the excellent value you provide. You can build your perceived value even more by following this next strategy:

Use great service and advice to increase sales dramatically. More customers today are searching around for alcoholic beverages that are low cost, yet still great quality. (This can be summed up with the simple word, "Value.") This spells opportunity for you, the new owner of a liquor store. You can become a student of wine yourself, hire experienced salespeople or just order prudently from the well-priced wines that you see reviewed in famous trade journals. Just remember to bring in customers with some innovative marketing strategies, such as sending your customers professional email newsletters that include discount coupons for selected products.

There are no small retailers, only retailers with small ideas! If you're looking for a flexible, resilient business that will bring in solid profits in the current recession, and make even more money when the current recession goes away - look no further than a liquor store!

Copyright (c) 2009 Richard K Parker

Article Source: http://www.excitingdestiny.com/articles

Richard Parker is the author of the How to Buy a Good Business at a Great Price series. As President and founder of Diomo Corporation - The Business Buyer Resource Center, his materials, seminars and consulting have helped thousands of business buyers realize their dream of business ownership. Want to find out more about business buying strategies that really work, then look no further than=> www.howtobuyaliquorstore.com/

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