What goes with liquor?

[beboppoker]

[ QUOTE ]
If the closest liquor store is 20 min drive then by all means mark that [censored] up! Know your competition. Liquor is a very old and well understood business.

[/ QUOTE ]

Well in New York...do you think 20 minutes driving distance is that close? In a crowded city, where people walk a lot, would walking distance be more important. I'm opening the store in a crowded area, and a large number of people walk to where they need to go.

There is competition near me. But would being closer to people, say 5-10 minute walking difference make a big difference?

Do you think I could compete by either raising prices or lowering my selection because of my closer location?

[MrBlue]

There will always be a few people willing to drive 20 mins to save a couple of bucks but 99% of the customers are local. Alcohol is heavy and no one wants to carry it 3-4 extra blocks to save a buck. But if it's an extra 5 bucks a bottle, I'd be walking that 4 blocks. It wasn't really clear what kind of area you were looking to open your store but now I know it's urban.

Concentrating your capital on a smaller selection might be a good idea. There are many stores in Brooklyn where they sell mostly cheap vodka and brandy. In places like those, they wouldn't need to carry any Remy XO or Grey Goose. Similarly, a liquor store near wall street wouldn't need to carry much of Georgi Vodka.

[conneti]

Happy Birthday/Congratulations cards

[Emsterdad]

Hookers, Wii´s and Jolt. Ill be there, from morning to night.

[MrDaveyHavoc]

how about adding magazines?

[beboppoker]

To:conneti
Ill think about it. But I'm not too sure...how often do you see cards in a liquor store? Theres probably a reason for that. If I did have them, I'm sure the selection would be limited. But I see where someone throwing a bday party could buy some cards with their liquor.

To:Emsterdad
hmmmm. Hookers are illegal and the Wii will probably not do me any good. I will stock jolt =)

To:MrDaveyHavoc
Thats crossed my mind. The only problem is that there is a store near me (within maybe 10-15 feet) that sells magazines. Their selection isnt big or anything, and I might have an edge if my store has more traffic. I'm not sure if you're allowed to change the prices of magazines or not.