Question

create a map of the process for the aggregate planning processor liquor business. Please explain

Answer 1

Liquor Business is one of the most profit making business in abroad or fin foreign countries.In any special function or just causal meetings foreign people enjoyed with wine and celebrate te things. EventhoughThere are so many data and detailed information required in this bsiness, Some people choose this kind of liqour store as their career or as an earning source.One can meet different kind of customers as well marketing executive on a very regular basis and can have feeling of happiness.But before starting this one need to go throgh the detailed knowledge about this business.

Below is the process to start liquor business;

After deciding about the business which you want to start the next step is the process of starting it and thus make it successful. There is more to starting a business than just registering it with the state. Following steps will help you out to successfully starting a new liquor business.This will include to check new business is well planned,registration of the same is complete and legal compliance documentation done or not.T

1. Business Planning;

For getting success as an enterprenur a clear plan is essential and important.It will help you map out the specifics of your business and discover some unknowns.Some important points to be in taken care is startup and ongoing costs, target market, break even timing and name of  business.

Costs involved in opening a liquor store; The capital amount required for start-up costs differentiate depending upon a number of factors. At the starting cost will be utmost needed to staffing,Location, staffing,beginning inventory, and licensing fees .One need to examine or research on the same that how much cost say for example 1 $ million dollar or more or less requires for starting a business.

Ongoing expenses for a liquor store; Develop such an accounting software which will make your daily income and expense's records and all other misc. expense in a very organized way .Keep records of your inventory with the use of accounting software.Earning on daily basis will be used in re-stocking of all the products at the store.Payroll cost is the very largest expense including expenses.Licensing cost,insurance cost also included in this.To meet all this expenses it is good to pepare monthly budget.

The target market; You need to know about the target market customer above the Age of 21 who like and enjoys the beverages.Make a research about the competitor about what kind of product they are selling and who are their targeted customers and how much they are successful in the market. With the each passing day try to know the likes of the customers so tht it will be easy for you to sucessfully run your business.

Liquor stores make profits by selling beverages.In retail or as well sometimes in a very bulk quantity by distributor.The price of each beverages varies from product to product in terms of size,type of alchohol.I t is very profitable business as high margin is there on the products.

Name your business; It is very important to choose a name of business. It should be taken care that the name is not exists as othere store name.It should be in unique way so that customers will encorage to come to visit your store.

2.Form a legal Entity:

You need to decide about businss structure available i.e.Establish or form LLC which is legal entity prevents you from being personally liable if your liquor store is sued. There are many business structures to choose from including Corporations, LLC's, and DBA's. You should higher an agent who is registered to help in protect your privacy and compliance.

3: Register for taxes

Registration is required in any business for any process.Your business needs to register or different state and fedral taxes.

4. Open a business bank account & credit card;

Use of  business bank  and credit accounts is essential for personal asset protection.

You should keep difference between your personal and professional business and expenses.Suppose they both may be calculate together then personal assets will be on risk and business can be sued.

Open a business bank account This will separates your personal assets from your company's assets, which is necessary for personal asset protection.

Get a business credit card This will help to put your personal and business expenses in the required place.Due to this all your business expense will be accumulate at one place.

5.Business accounting need to be set up:

It is very important to record all your business expenses and income need to be analyzed to know the financial performance of the business.So keep detailed and accurate information and data of accounts which helps to pay in annual tax filing.

6.Necessary permits and licenses:

For starting up any business licensing and permission  is a primary activity,Failure of this can result in hefty fines, or even cause your business to be shut down.You will need to obtain a liquor license from the appropriate state agency.

7.Get Business Insurance:

Insurance is very much recommended for the business owners.When you hired employees,compensation of workers insurance may be applied to your state or business place.

8.Define your brand:

For any business brand is very important.It describes about your company overview. A strong brand will help your business and differentiate from those of competitors.For this promote your store and adopt markrting strategy.

9.Establish your Web Presence

Business website attracts the customers by doing social marketing.