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
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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
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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.
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Wine Bar Business Plan
