Business Plans for Liquor Stores in Gauteng: Don’t Overlook These Factors
Liquor stores operate in a regulated industry. To operate a bottle store in Gauteng, you need a liquor licence. Though the licences and finance applications are separate, you have to meet the document, approval, and information requirements for both to get finance for the venture. Our team of accountants, tax experts, and industry consultants are experienced in drafting business plans for retail ventures in Gauteng. They are familiar with the requirements for liquor stores, factors that affect the success of such ventures, and crucial aspects to consider in financial projections.
Target Audience
Determine your target audience. Do you plan to sell to the low-, medium-, or high-income groups? A demographic study of the area is essential. We do demographic studies or use information to the effect in business plans for liquor stores in Gauteng.
Why is The Target Market Important?
The inventory depends on the customer preferences. Even the store layout is affected by the target audience profile. Marketing efforts, branding, and overall service offerings are linked to the preferences and buying patterns of the customers. If selling in a high-risk area, you may need to stock the alcohol behind the counter. For the low-income groups, beer, wine and low-priced alcohol must be the largest part of the stock.
If you sell in an affluent area, you need to stock a wide range of products including glasses, gift sets and top-of the-range brands. Self-service is more suited for the target market, which means more start-up inventory. Our consultants know how target markets affect business plans in Gauteng. We draft the proposals according to the client’s intended target audience.
Premises
Fitments of the store for alcohol sales equals a capital layout. This is true even when you buy an existing liquor store. You need to include fitments, signage, and repair costs in the initial capital projections. Consider broken tiles, fridge replacements, upgrading POS systems, etc. Such costs must be indicated in business plans.
Safety and Security
Work security costs into the monthly budget, including lock replacement, close circuit cameras, alarms, armed response, etc.
Marketing
Promotional materials, directory listings, and sign-ups form part of the marketing costs. How do you plan to gain a competitive edge over the larger liquor retailers in Gauteng? We address these and other critical factors in our business plans for liquor stores. Seek professional help to attract investors. Let us help you get started.
For more information, also visit our Facebook Page: iAuditor
