Many merchants need help to create their own alcohol brands since they are mired in online marketplaces when developing a booze brand.
The liquor market is the ideal platform for certain businesses to go online, list liquors immediately, and sell internationally. However, it’s only good for retailers in the short term and unsuitable for building their brand.
Here are some major reasons to start an online liquor store that are enough to understand why it’s important to run a business independently:
1. Set your Profit Margins in Business
When retailers operate their liquor business online, the marketplace will set the commission rate, ranging from 2% to 50%. However, such huge profits have a negative impact on merchants’ ability to turn a profit and make expanding their liquor business difficult.
On the other hand, when retailers run their liquor companies autonomously, they have the power to establish their margins and generate significant profits.
Therefore, starting your own liquor company is preferable to depending on markets or, at the very least, having a lesser commission business to make higher earnings.
2. Same-Day Payment Settlement
When operating their business on marketplaces, it’s one of the major difficulties that every vendor of alcoholic beverages faces. According to the rules of the market, they are paid after a specific period, which could be a week or a month.
The necessity for cash flow in the liquor industry impacts merchants’ ability to operate regularly. Because of this, having your own liquor company enables shops to get paid promptly and without delay.
3. Build Your Own Brand
Online markets impact certain brand identities because when liquor merchants sell their products there, the customers remember the name of the market where they made their purchase rather than your brand name. Because of this, a brand must become known by its name, and having its liquor store allows retailers to do just that.
4. Faster Scalability
Online markets reduce profitability, brand identification, and business control. However, having their own liquor company gives retailers total control over their operations, objectives, earnings, and scalability. Depending on their needs, they are free to expand their liquor company whenever they see fit. Therefore, having your brand with quicker scalability is preferable.
5. Stronger Community Ties
Independent liquor retail stores often have a strong connection to their local community, which can lead to increased customer loyalty and community support. By operating in the same community for an extended period of time, the business can build relationships with its customers and become an integral part of the community.
This can result in increased customer loyalty, goodwill and positive word-of-mouth referrals, which can drive new customers to the store.
6. Secure Customers Insightful Database
Retailers could not protect their liquor customer database from online marketplaces due to a lack of assigned authority, but their own liquor business allows them to have complete control over the customer database and use it to understand their customers better and grow their liquor business.
Additionally, independent liquor retail stores can take advantage of new market opportunities and first mover advantages in new products, such as the introduction of new products or the opening of new markets, much more quickly than franchise stores, giving them a competitive advantage in the market.
And there are many more benefits of having your brand than an online marketplace.
Surely these reasons are enough to convince you why having your own liquor business is much more profitable and necessary nowadays.
So if you want to run a liquor business online, then you need three things
- Smart Website
- Professional App
- Fully-featured Marketing
Now the question is, How will you get these things for your business?
Let Esplanda help you to get everything your business needs in the next 10-mins.
Follow the step-by-step process to set up your own independent business with Esplanda:
Step 1 – Go to Solutions for Liquor Stores
Step 2 – Choose your suitable plan and click on the “Get Started” button.
Step 3 – Setup your Inventory, Payment details, and License.
Step 4 – Submit the details.
Congratulations! Now you’ve your own independent liquor business to take it globally and make huge profits.