Liquor Store Business Essentials
A New York liquor store presents a great business opportunity. Imagine this: New York, the heart of business, and amidst it all, a liquor store that not only survives but thrives. Even when the world was grappling with the Covid19 pandemic, while many businesses shuttered, liquor stores saw an increase in sales. Through thick and thin, they’ve stood resilient.
But just because opening a liquor store can be highly profitable, it doesn’t mean that it’s without challenges and things to watch out for.
Don’t worry! With our experience of licensing hundreds of New York liquor stores, Rezzonator Services created this quick overview video to help you along.
Let’s get right to it: The toughest part of running a liquor store is opening one. You might think operating a liquor store is the hard part, but the real challenge? Opening one. It’s like setting up the first domino; everything needs to be just right.
A liquor store license is given at the discretion of the New York State Liquor Authority. They hold the key. And their main concern? Public convenience. Which brings us to our first major point:
Location isn’t just about geography; it’s about strategy. Your liquor store license is tied to a specific address. So, choose wisely. A place bustling with potential customers, serving a vast area, but without stepping on the toes of other liquor stores can be a great location. And no, you don’t need to be miles away from the nearest store,. But if there another liquor store just three doors down, that is a red flag. However, every rule has an exception, and with the right argument, you might just find that sweet spot.
Another thing to be aware of is the fact that each location comes with history. Every location tells a story. Some tales are of violations, from selling to minors to license revocations. It’s essential to know these stories, as they could be potential roadblocks.
Locations can be complicated. Navigating the world of locations can be like walking through a minefield. But with Rezzonator Services’ Due Diligence Report, you’re not walking blind. It’s your shield, ensuring your investment is sound. If you have a location in mind contact us for a report.
One of the biggest mistakes that people make after finding their location is entering a lease for the space. Getting locked into a lease before getting a license can cause severe problems. But on the flip side, no New York landlord will wait for you. We’ve got a cheat sheet on how to handle this delicate dance with potential landlords. Trust us; you’ll want this in your arsenal. Curious? More details await on this page. But now, let’s pivot to:
Your company and its members
Your liquor store isn’t just about the location; it’s about the company and its members. The structure of your company is pivotal. In New York, the top choices are C Corp, S Corp, and LLC. Once that’s set, it’s time to focus on the members.
Remember, alcohol is regulated, and every member will be under the microscope, from finances to past records. It’s intricate, and even sole member companies can hit snags. This is especially true because the State on the lookout for any shady dealings.
Quick Way Into The Liquor Store Market
Want a fast track into the liquor store world? Consider taking over an existing store. Rezzonator Services has a curated list of available liquor stores in New York. It’s a golden ticket to bypass many hurdles, from licensing to lease negotiations, and start operating fast. But, like everything, it comes with its own set of challenges. You must review the history of the business and understand what you’re buying. If you’re considering taking over a store contact us.
Opening a liquor store in the state of New York is a great way to create a solid business that can withstand economic hiccups and return profits time and time again. A liquor store in New York isn’t just a business; it’s an investment, a fortress against economic storms, promising consistent returns. But the journey to opening one is filled with challenges. It’s hard to navigate this path alone.
With hundreds of businesses approved under our belt, let Rezzonator Services be your guiding expert. Contact us today to get started.