Wine Store Business Plan

Rationale:

New construction of upscale residential housing in Boston has been robust in recent years, leading to the formation of new communities in need of neighborhood stores and services. As the population shift continues, opportunities arise for retail businesses ready to accommodate this growth and capitalize on the trend.

Objective:

Vino Maestro will be a full-service retail merchant of fine wines and spirits in Boston. It will distinguish itself from the competition and capture market share by securing a prime storefront location in a newly forming Boston residential neighborhood. It will follow the best practices of its retail category leaders, with particular emphasis on excellent customer service, a broad selection of quality inventory, and competitive pricing.

1.1 Mission

Our mission is to develop into the best location to buy wine in Boston, which will be measured by our growth in sales, and in opinions and ratings published in the media. Inventory and sales records will be computerized, to allow the company to identify and exploit best selling products, match volumes and profitability to service levels, anticipate demand, manage cash flows, assist with revenue growth plans, and optimize supplier/distributor relationships.

Goals:

• Earn and maintain Vino Maestro’s rating as one of the best stores in the Boston wine and spirits retail trade business.
• Establish 30% minimum gross profit margins (retail price less wholesale cost) from inception.
• Achieve a profitable return on investment within three years.
• Earn a 15% internal rate of return for investors over the life of the lease.
• Attract talented and motivated staff.