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Opening a Liquor Store

Essay by   •  February 3, 2011  •  Essay  •  1,065 Words (5 Pages)  •  1,324 Views

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Opening A Business:

Liquor Laws

There are many different ways to start and run a business. There are equally as many fields in which you can open a business. Though there is only one business in which your inventory can appreciate. Most businesses that have an inventory have to deal with the depreciation of that inventory. Liquor inventories are not the same. Liquor is the only inventory that can appreciate over. With most inventories such as foods, machinery, furniture, ect. the quality or value of the product lessens due to cultural and economic factors. Liquor on the other hand gets better over time. As years go by liquor will become more flavorful which in return causes it to become more valuable. There are many different ways a business can be formed around liquor. The liquor needs to be made some where. It needs to be moved from one place to another. It also needs to be sold. Liquor making companies have been around for ages. Coming before the prohibition, fighting their way during it, and long after it. Liquor can now be transported all over the world thanks to new technologies in transportation. But, the only way for customers to get liquor is to go to the store and buy it. Liquor's laws are different depending on the state or even county you live in. So, liquor is sold by itself in liquor stores. The first step to opening a liquor store is understanding what it takes to open a business.

Starting a business

Before starting your own business you should have a good understanding what to expect. Here are seven steps that can help in your decision making process.

Step One: Questioning Your Personal Self

Start by taking at look at yourself and the situation. Try to find some reasons why you want to start a business. It may be for finical freedom or any other reason. Ask yourself questions like: How much money can I invest? How much time can I put forth to my business? What kind of business do I want to open? Do I want my business to work around the life style that I already have? Is this really what I want to do? Once you have these question answered you will have a better understanding of what you want to do and how you would like to accomplish it.

Step Two: Understanding You Field

Once you've chosen a field of business to get into you need to become familiar with the business. Who buys your product or good? How is your product made? How is it supplied? What type of money is needed to start this business? Questions like these will give you a better understanding of what is going to happen later on. It will keep you informed so that nothing sneaks up on you.

Step Three: Make Sure It's Legal

There are three different types of businesses that you can build. A proprietorship is a business that only one person owns and operates. All reasonability falls on the owner. A partnership is a business that two people own and operates together. The reasonability of the business falls on the shoulders of bother the owner. There is everything to gain in these two forms of business but here is also everything to lose. If of some reason something goes wrong and the business is sued; both parties can lose everything from the business to person item such as cars and houses. The third kind of business is a corporation. Even though incorporating your business can be expensive the cost far out way the protection you gain. If anything were to happen and your business got sued; unlike a proprietorship or partnership, none of your person position can be touched. Once you have chosen



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