How to Start a Retail Wine Business

How to Start a Retail Wine Business

Many people dream of turning their passions and hobbies into a business, allowing them to do what they love while making a living. For wine lovers, a retail wine store can be a great way to share knowledge of good wines with others, and to make money to pay the bills. Just like any type of new business, starting a wine store can be challenging, but for those willing to put in the effort, it can provide endless rewards, both financial and personal.

1.      Research the liquor license process in your state. Before you can sell your first bottle of wine, you'll need to obtain a liquor license, and every state has different requirements. This can often be a lengthy process, requiring public notices to be posted and hearings to be held. Expect to pay between several hundred and several thousand dollars if your license is approved. A list of State Liquor Boards can be found in the Resources section of this article.

2.      Find a location. Look for a building that will accommodate the amount of wine you plan to sell, as well as any special events you'd like to hold in your store. Check the zoning of the building before signing a lease to ensure a wine business can be operated in the area. Pay attention to foot traffic and parking availability, and make sure to choose an area with low competition and high demand for the types of wines you'd like to sell. Generally, you'll need to secure a store location before you apply for your liquor license. To protect yourself in the case your license is not approved, look for a lease offer that will allow you to cancel if the license is denied.

3.      Purchase stock. You may want to sell local wines or varieties from across the world. Visit wineries and vineyards to select brands you think will sell. Pay attention to price levels and types of wines, ensuring you select bottles that will work well with your customer base.

4.      Hire employees. Look for people who can work well with your customer base. If you plan to sell expensive wines, you'll need knowledgeable employees who can discuss the finer qualities of different types. Take the time now to train your employees on service, products, and the systems you'd like to use to organize your business.

5.      Set up your store and open for business. Choose the furnishings, wine racks, and designs that meet your budget. You can always upgrade later after sales pick up. Wine stores lend themselves well to easy and fun marketing events. Host tasting parties, or wine classes. Make these events free to draw in the crowds, and you'll soon have a large enough customer base to support your store.

Article by: Maria

Working happily with National Merchant Services

www.processnms.com

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Read more: How to Start A Retail Wine Business | eHow.com http://www.ehow.com/how_5485272_start-retail-wine-business.html#ixzz2KiY0DSlV

How to Advertise a Limo Service for Proms

How to Advertise a Limo Service for Proms

People often think of prom as the big night for high school students. Many students plan to rent limos for prom, which makes it a big night for limo companies. The key to booking your entire fleet of limos is advertising. Follow these steps to come up with an advertising plan.

1.      Set up an advertising budget. The most successful limo companies know that advertising only works if you see a return larger than the cost of the ads. While television commercials get you noticed, you may not be able to make enough money to cover the cost. Generally, you should plan one to five percent of your gross sales as your advertising budget.

2.      Advertise year round. Even though you want a big night for prom night, statistics show you have more success with frequent advertising. About three months before prom, switch your ads to focus specifically on prom. Reliability and safety are big issues for people considering renting a limo, so you want to stress these in your ads.

3.      Include prom as a service. This is especially important for website or Internet advertising where people search using key words. A yellow page ad also makes it easier for local residents to find your company. You can also advertise online with companies like Limo.com.

4.      Cross promote your service. Department stores, salons and tux rental stores also need to advertise for prom. You can set up a co-op with these companies and put an insert into the newspaper. Some areas have prom fashion shows where you can set up a booth or hand out information.

5.      Offer a prom package. You want the package to benefit your company and provide a deal. Offer a shared ride for a set amount of couples. Each couple pays less, but overall you make more. You should only share rides if all parties consent and know ahead of time that you are doing this.

6.      Put up flyers. Check with the school office to see if you can post an advertisement on the bulletin board. Talk with the prom committee for ways you can sponsor prom. Each school typically hosts its own prim; so remember to check with multiple districts.

Read more: How to Advertise a Limo Service for Proms | eHow.com http://www.ehow.com/how_2146535_advertise-limo-service-proms.html#ixzz2HUgShwF8

Start a Killer Restaurant: 6 Tips

Start a Killer Restaurant: 6 Tips

Nearly half of all adults have worked in the restaurant industry at some point, and 46 percent of restaurant employees say they would like to own a restaurant someday. Clearly many people dream of owning a restaurant. No one dreams of owning a failed restaurant, though.

1. Never start without the big three.  No restaurant succeeds without a great chef, a great location, and a great concept. They all work together. Your location should fit your concept. Your chef, or “talent,” must fit your concept; otherwise you’ll constantly deal with the most common word in the restaurant business: Drama.

Accessibility is everything. The more accessible you can make your restaurant, both in terms of location and in a broader sense, the greater your chances of success. Look at the most successful restaurants: They’re the most accessible in terms of location, brand, and price point. Fast casual restaurants are booming because they’re incredibly accessible on all levels.

2. Always overestimate your capital needs. Plan on having six to nine months of working capital from the start. You’ll be surprised by how quickly the expenditures add up and how much time it takes for a new place to grab hold and get legs/regular customers.

Many new restaurants see a major downswing in business after the opening’s initial excitement. That’s when capital is critical.

A lot of restaurant owners start out with cash in reserve and start blowing it because they think the honeymoon phase will last forever. That’s why most restaurants go out of business. Never let initial success go to your head. Success is only determined years later.

3. Learn to love teaching. Often bring in people from different places, including interns from culinary schools.

Doing something new is inspiring. Helping to shape the menu is inspiring. Everyone loves new dishes–the front of the house, the wait staff… once people love to come to work, you’re money.

4. Never be cheap where guests are concerned. The most important money you will spend is money that adds value to the guest.

Determine a percentage of your revenue to put into improvements that affect the guest and constantly enhance their experience. Give away gift cards and send a lot of complimentary dishes to tables.

Guests love when a dish comes out and the server says, “The chef wanted you to try this,” because that creates a real connection and makes the experience personal.

Make sure you spend as much money as possible on the guest experience. Spend money on the people already in your restaurant, because that’s the best way to generate genuinely positive word of mouth.

5. Focus on organization and systems of operation. Failing to put systems in place is one of the biggest mistakes an independent restaurant owner makes.

There’s a reason chain restaurants thrive: Every one of them started as an individual restaurant. Each had a great chef, a great concept, and a great location, and they developed systems that enabled them to build guest demand, hold on to key people, and make money. Otherwise it would have been impossible to open two locations, much less 200.

Organization doesn’t kill the flow of creativity. Putting outstanding systems in place gives you the freedom to be creative.

6. Be ready to evolve, especially if you’re a chef. Many businesses are started by a crafts person with an idea for a product. Rarely does that idea become anything unless that person partners with someone with a complementary ability, like, “You carve wooden bananas and I can sell them for you.” That’s when an idea becomes a business.

Always look for people who are smarter than you. As a business owner the smartest thing you can do is partner with people who know things you don’t—and then give them a reason to care.

Article by: Maria

Working happily with National Merchant Services

www.processnms.com

Happy Processing!!!

Article source: http://www.inc.com/jeff-haden/tyson-cole-how-to-start-successful-restaurant-6-tips.html

How to Buy Wholesale Merchandise

How to Buy Wholesale Merchandise

Having a successful retail business depends greatly on offering the right product, at the right price, at the right time. Therefore, it is paramount to the success of your business to be able to locate the best sources for those products. Once you know what products or product lines you would like to sell, it's time to find places to buy wholesale merchandise.

Buying Wholesale Merchandise

Before you buy wholesale merchandise for your store, try to visit a competitor or a store selling a product line similar to what you plan to sell. Browse the store's product selection, making a mental note of the brands they carry. What products seem to be selling well? Which items are in the clearance bin? If you visit a similar store too far away to be a competitor, that retailer may be willing to share with you the source of his wholesale merchandise.

Retailers can often find products to sell in their stores by searching online, joining buying groups, using library resources and attending trade shows or buyers' markets.

A trade show is one of the best places to buy wholesale merchandise for your store. Retailers can find many suppliers, serving the same markets, and their product offerings. Conduct an online search for tradeshows in your industry to find the nearest event. Trade shows aren't open to the general public so be prepared to show proof that you're an established business such as a resale certificate, tax id, business cards or some other form of license or permit.

Once your store is open and doing business, it will be easier to find wholesale merchandise to sell because the suppliers will be coming to you, instead of you looking for them. Customers can also play a large role in finding suppliers as they recommend products they would like to see in the store.

Types of Suppliers

Manufacturer - Some manufacturers will sell their products at wholesale prices directly to the retailer. If they do, they may sell their products at large quantities or at a high minimum order. If you have a particular product you want to sell, contact the manufacturer and ask if they sell directly to dealers. If not, ask what distributors they sell their products through so you will know where to buy the items.

Importers - Due to globalization, importing products has become much easier than it used to be. Retailers can purchase from importers or buy the products directly from a foreign company. Before using this type of supplier, do your homework. It is important to understand all the aspects of the paperwork, shipping time, product life cycle and all costs involved.

Distributors - A distributor generally sells a large variety of a certain classification of products. They must make a profit too, so their prices may be slightly higher than if the item was purchased directly from the manufacturer. Retailers can buy lower quantities with little or no minimum order. Some even offer free freight on orders over a certain amount.

Other Wholesalers and Liquidators - In searching for products at wholesale prices, you may find wholesalers that don't sell just one type of merchandise but many, many kinds of products. Some will sell closeouts, truckloads and pallets of merchandise and even damaged goods. Before buying wholesale merchandise from this type of supplier, be sure you completely understand the condition, price and terms of the sale.

Auctions - Retailers can find many bargains on eBay, the world's largest auction site. Just browse the Wholesale Lots category of the type of store you have and you'll find tons of merchandise. Not all product prices on eBay are truly wholesale but if you spend time watching the auctions and learn how to buy effectively, you're sure to find a deal. Don't miss out on live auctions for bargains on merchandise for resale.

Choosing a Vendor

Once you've located several sources of products, evaluate each vendor on a variety of factors. In order to bring the best merchandise to your customers, you'll need to buy from someone offering quality products, reliable delivery and superior customer service. This information can be gathered through references, marketing material or by simply asking the sales representative how they conduct business.

Other Factors to Consider

·         Stability

·         Price

·         Location

·         Shipping Options

·         Shipping Costs

·         Customer Service

·         Terms of Sale

·         Business Hours

·         Returned Merchandise

·         Website and Online Purchasing

Don't get discouraged. It may take some time, research and several vendor negotiations to find the best merchandise to sell in your retail store.

Article by: Maria

Working happily with National Merchant Services

www.processnms.com

Happy Processing!!!

Article source: http://retail.about.com/od/buyinginventory/a/buy_wholesale.htm