What does it take to start and run a profitable retail wine store?
Sunday, March 7th, 2010 at
5:45 pm
Ryan F asked:
A boutique/specialty retail wine store focusing on artisanal wine, that is (i.e., not directly competing with Costco and supermarkets). Assume the store would be in an area with many interesed wine drinkers (e.g., SF Bay Area, Seattle, Chicago etc.)
A boutique/specialty retail wine store focusing on artisanal wine, that is (i.e., not directly competing with Costco and supermarkets). Assume the store would be in an area with many interesed wine drinkers (e.g., SF Bay Area, Seattle, Chicago etc.)
Tagged with: Costco • Retail Wine Store • Wine Drinkers
Filed under: Wine
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great choices in wine all cost range, ohhh and maybe a wine tasting once a week to encourage purchases.
Same as any retail…..good product at a fair price and location, location, location
knowledge of wine first of all, then location location location!! In Louisiana we have several retail wine cellars that are popular some cater to the cigar smoker as well as the wine drinker and another wine/diner serves gourmet sandwiches all day too along with specialty wine gift baskets as her specialty! Dont forget to base your ideas on a clientele that can and will afford your prices. Once you have a base of regualr customers the business will grow on its own by word of mouth!
I agree with the knowledge aspect. Know everything that you carry. Know what people will like about it and what people won’t like about it.
Be able to help people that are price constrained. If they come in and say “I need a $15 gift for a co-worker who only drinks Chardonnay,” you have to be able to help them. Just as you ahve to be able to help “I have $50 to spend on something that goes with Portabella Mushroom Tomato Sauce over Bow Tie Pasta.” (My answers would be Maryhill Reserve Chardonnay and Fontelloro Red, respectively).
You also need to have wine tastings to build your local clientel. Once, preferably twice a week to get people interested in your shop and the wine. Serve snacks that can be purchased in your store (artisan cheeses, high-end crackers, etc). Give detailed info about each wine being poured (4-5 sentences) and leave room for people to take notes. Offer tasting night deals on those wines.
Consider having catered ‘wine nights’. People will pay $25-$50 a head to learn about wine, or to try wines from a certain region paired with foods.
Build business by offering case discount coupons in local mail-outs. Even offer bottle discounts on bottles over $35 with x coupon.
Put the store in an up and coming area with lots of people with excess cash and time. Suburban sprawl is the wine shop’s friend. Have the location be near other things – in a Supermarket strip mall, near a Target, near another large draw anchor store that draws in the crowd that you want (Wal-Mart may not be a great idea, but Target is another class).
Have fun with it!