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Why a Liquor Store Can Be the Most Recession-Proof Business of All

By Richard K Parker

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Published: 28Jun2009
Word count: 509
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Are you looking for a business that won't be adversely affected by current economic troubles? Of course you are! So, allow me to share one piece of advice with you.

Buy a liquor store.

Liquor stores are extremely recession-proof, perhaps more than any other type 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 strong in the recession of the mid-1980s, and they are holding quite strong in the current climate. People continue to buy wine, liquor and beer, even when times get tough. 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 a wide range of terrific lower-priced products that appeal to buyers 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 costs are the same for either selection! 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 looking for alcoholic beverages that are inexpensive, yet still excellent. (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 knowledgeable salespeople or simply order strategically from the economical wines that you find reviewed in popular 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!

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=> http://www.howtobuyaliquorstore.com/

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