Whether you want to buy a liquor store that already exists or start one entirely from the ground up, the private retail liquor business can be a rewarding investment. Business owners often ask us about the cost differences between buying a liquor store vs building a liquor store. Liquor store start up costs can vary significantly because there are so many factors that contribute to cost. The “buy vs. new build” question can’t be easily answered easily, however, there are pros and cons that can help a prospective liquor store owner decide what’s best for them.
Having worked as liquor consultants for numerous private BC liquor store owners over the years, we’ve observed a number of traits that are common to successful liquor retailers. Whether you buy a liquor store or build one, if you are planning to run the store yourself, you need to know whether you have what it takes to succeed in the retail liquor business.
From our perspective, a successful liquor store owner:
Buying a liquor store has obvious benefits:
The store is already built and refrigerators, shelving and displays are in place.
Though liquor store start-up costs are a sizable investment, building a liquor store from scratch does have its advantages:
If you’re considering starting or buying a liquor store in BC, Alberta or in the USA, we can help. Since 2003, we’ve provided liquor store operations consulting services to existing and new retail liquor businesses. We guide prospective owners through liquor store purchases, liquor licensing, new builds, and ongoing operation. Our experience has taught as what works, and what doesn’t! If you’re struggling with whether to buy a liquor store vs. build a liquor store, contact the liquor license consultants at Thrive Liquor & Cannabis Advisors to arrange a consultation. We’re here to help you succeed.