7 Step Business Plan for SBA Funding


Wine Bar Business Plan


Quotable
wine bar business plan image

"Good wine is a good familiar creature if it be well used."
William Shakespeare (1564-1616)
Othello, II. iii. 

  

 
WINE BAR BUSINESS PLAN

A wine bar business plan marries two magnificent concepts: the wonderful world of wine, and the opportunity to actually make money.  It is a business like none other.  Everything you ever thought you knew will be used as you grow your business.  Cheers! 

KEY CONSIDERATION

This is a dream business. Great product.  Nice people.  Good profit potential.  There are thousands of people who would like to be in your shoes behind that bar.

STRONGEST ADVANTAGE

For someone with real knowledge of wine, this is a natural.  Bring marketing skills to the table as well, and you're home free.

STRONGEST DISADVANTAGE

Because the business looks so easy to set up (and it's not!), many people try it who shouldn't.  Also, the inventory that you will need to carry is a major expense, more than most businesses.

OVERCOMING THE DISADVANTAGE WITH YOUR WINE BAR BUSINESS PLAN

Prove that you have the knowledge to make the wine bar successful.

You know all those hundreds of wine tastings you went to?  All those thousands of books and magazines you read?  The innumerable conversations you had on various wines and vintages?

Well, now is when all of that becomes very important.

More to the point, you need a way of setting it out in black and white so that your lender can absorb the many, many years you have devoted to honing your craft.

Your bio in your wine bar business plan needs to absolutely burst with all the industry knowledge you have.

Prove that you have the marketing background and skill to make the wine bar successful.

And one thing more you really need:  the marketing skill to lure people into your wine bar.  

Devote a minimum of 5-8 pages of your business plan to setting out your marketing plan.  

  • Identify your core buyers.  
  • Identify the number of your core buyers in your selling area.  
  • Have some initial ads or promotions developed to demonstrate your skill in this area.  
  • Base your projections of valid, provable statistics.  No pie in the sky here -- it just won't fly.

The economic breakdown of your core area will be critical to your success.  If you have tourists coming through who will enjoy your wine, great.  If your clientele will be predominantly residents, that's great too.  Whatever it is, make sure there are enough of them.

OTHER PLUSSES FROM YOUR WINE BAR BUSINESS PLAN

Wow, who doesn't enjoy a really great glass of wine?  Virtually every single lender you go to will envy you.  Be sure to take some "free sample" coupons with you.  Even if the store isn't in existence yet, let each and every potential lender know that s/he is very welcome at your wine bar.

Ask your lenders, too, what their favorite wines are, and carry them if you can.  Even if a lender say No today, it may be a Yes next year.

Show what architectural drawings you can.  Present a list of inventory as best you can.  Identify your suppliers.  Make it clear that you know how the alcohol business works in your area.

FOR ADDITIONAL INFORMATION FOR YOUR WINE BAR BUSINESS PLAN AND YOUR WINE BAR MARKETING PLAN

For traffic information on your retail location, contact the owner/manager of the retail center.  Also go to your city or country planning department where you can get traffic counts and information on housing and construction in that area.

For statistical information for your marketing plan for a wine bar, go to BizMiner.  

At the home page, look for the Industry search box and enter "Wine Bar".

You will see both Financial Analysis and Market Analysis reports.  Both reports will be invaluable to you as you create your wine bar business plan.  The reports are based on actual figures from over 150 existing wine bars.

For demographic information

While at BizMiner, be sure to look in the left hand column for "View All Reports, then look at "Area Demographics".  This provides data from the US Census reports, including income level, age, education, etc.  If your geographic area is represented, it is an excellent source of information for you.  

YOUR LIKELY LENDER/INVESTOR

The SBA is a strong lender for smaller businesses.  The specialists at the SBA affiliated bank should understand the financial needs of a wine bar, because they will be looking at the BizMiner stats as well.  

If yours is an established business looking to expand regionally, nationally or internationally, a venture capital firm may be your best choice.  Be sure to check out the newest development in venture capital:  venture lending.  This is one of those niches, too, that can appeal to angel investors who want a side hobby.

YOUR BEST ALL AROUND RESOURCE

wine bar business plan

Creating your wine bar business plan has many challenges.  The 7-Step Business Plan will make all the difference.  Stats, financials,  marketing -- everything you need. Because your wine bar business will be unique, bring your own experience to the business plan as well.

Click on the book cover for more information

YOUR ONLINE PRESENCE

Potential customers are very likely to look you up on the web before coming by.  Be sure to include some great photos, as well as a wine list of best sellers, and favorites of local celebrities.   See best web host for more information on setting up your web site.

THE LAST WORD ON YOUR WINE BAR BUSINESS PLAN

I personally believe the world could use a lot more classy wine bars, so I truly wish you every success on your new venture. 

Related Articles


Skip Ruzman,
Business Plan Specialist

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