Good Luck man! Just found your channel! If I am ever in the San Antonio area I will look you up? Looking forward to checking out some more videos! Also I am a huge cigar lover... I will have to try and find some of those BT Cigars!
Hello Roy, great insight on the industry, with that being said could you please break down a video or comment concerning the logistist of your POS sytem and PRO and CONS, how does it help from theif empoylyee prevention along with supply orders and pre- orders on the futures that help stream line the inventory and sales tax purpose. When you recieve your items from distributors , does your POS automatically update with the recent products that arrived in? ALSO you mention you made your own app and website could you do a video on that processs of steps. Thanks in advance.
be careful with the online shipping, im sure you're aware of justins house of bourbon and the controversy behind it. it appears the online front is under attack yet again. stay safe bro.
Old comment, but they didn't get in trouble for simply selling online. They were probably selling fake bottles, they were also avoiding state taxes and selling where they weren't allowed too.
I arrived too late (1 year after was plubished). Where do you wholesale buy the items located at the checkout desk like the cigars and other products? How do you know what to sell at there?
I’m not sure if my question makes sense but I’m gonna ask anyway. When you say you have a 20-25% profit margin does that mean you keep 20-25% of your total revenue and it goes to your pocket. Or do you have to use that 20-25% to pay rent, energy bills etc. and then the left over after all that is what u actually pocket
Gross revenue=total sales. Gross profit=total sales minus cost of goods. From gross profit then subtract rent/mortgage, insurances, taxes, licensure, employees, supplies, utilities and bills, and new inventory purchases. What’s left over is take home. When he says 20% margins he means the store makes 20% more than it pays for inventory. If an item is $100 at cost, he’ll charge $120 for example, bringing him 20%. Now usually higher end wines are at 30% and spirits more like 15-20% and beer is usually at the lowest margin because it moves in higher volume so you compensate for the lower margin on beer by quantity sold. In his case it averages out to 20% overall margins on sales. So if his store does $1,000,000 in sales at 20% margin that’s $200,000 gross profit (because buying the alcohol to be sold cost him $800,000 in this example) then subtract operating expenses and revolving inventory, take home maybe $60,000-90,000. Hope that helps.
Wish u all the success!
Really cool dude that’s passionate with his business😊
Thank you so much!
It's 2024. I'm currently working on opening up a liquor store, about to watch all your videos
Best of Luck bro.
@RoySoCrazy once I get closer, I'll be hitting up your IG account. Bombarding you with ungodly amounts of questions.
Good info I just opened my 1st store last month
brodie im suppose to move to Houston and i wanted to open shop. you changed my mind and im def gunna get this started. thanks for the insight g
That's fire let me know we you get it open I want to see it. Keep Going Fam.
@@RoySoCrazy bet that up brodie I got you!
🏴👏 great insight into your business mate, all the best for 2023 👏🏴
I appreciate that buddy!! Cheers!!
Good Luck man! Just found your channel! If I am ever in the San Antonio area I will look you up? Looking forward to checking out some more videos! Also I am a huge cigar lover... I will have to try and find some of those BT Cigars!
Thank you for watching! You will enjoy the BT cigars!
roy the man!
appreciate that big dog!!
Great Video Roy !!! Any stores for sale ?
Thank you for watching. I don't have any stores on the market at the moment.
Hello Roy, great insight on the industry, with that being said could you please break down a video or comment concerning the logistist of your POS sytem and PRO and CONS, how does it help from theif empoylyee prevention along with supply orders and pre- orders on the futures that help stream line the inventory and sales tax purpose. When you recieve your items from distributors , does your POS automatically update with the recent products that arrived in? ALSO you mention you made your own app and website could you do a video on that processs of steps.
Thanks in advance.
be careful with the online shipping, im sure you're aware of justins house of bourbon and the controversy behind it. it appears the online front is under attack yet again. stay safe bro.
Old comment, but they didn't get in trouble for simply selling online. They were probably selling fake bottles, they were also avoiding state taxes and selling where they weren't allowed too.
I been told when I was young, people will always have money for booze and cigarettes
And tattoos.
Got my pkg in the mail today , thanks it was awesome
Hey Kevin, that's nice enjoy my friend!! Cheers!!
What’s the best way to get wholesale alcohol at a good price?
I arrived too late (1 year after was plubished). Where do you wholesale buy the items located at the checkout desk like the cigars and other products? How do you know what to sell at there?
I’m not sure if my question makes sense but I’m gonna ask anyway. When you say you have a 20-25% profit margin does that mean you keep 20-25% of your total revenue and it goes to your pocket. Or do you have to use that 20-25% to pay rent, energy bills etc. and then the left over after all that is what u actually pocket
I'm not an expert in any of this stuff but the keyword is profit meaning everything besides profits goes to restocking
Gross revenue=total sales. Gross profit=total sales minus cost of goods. From gross profit then subtract rent/mortgage, insurances, taxes, licensure, employees, supplies, utilities and bills, and new inventory purchases. What’s left over is take home. When he says 20% margins he means the store makes 20% more than it pays for inventory. If an item is $100 at cost, he’ll charge $120 for example, bringing him 20%. Now usually higher end wines are at 30% and spirits more like 15-20% and beer is usually at the lowest margin because it moves in higher volume so you compensate for the lower margin on beer by quantity sold. In his case it averages out to 20% overall margins on sales. So if his store does $1,000,000 in sales at 20% margin that’s $200,000 gross profit (because buying the alcohol to be sold cost him $800,000 in this example) then subtract operating expenses and revolving inventory, take home maybe $60,000-90,000. Hope that helps.
Great video - continued success
Thank you for watching! Cheers!!
I spy ECBP and Henry McKenna single barrel. That sucks you have to take such a low mark-up on your most profitable bottles.
Good eye
Im from southern California tons of liquor stores here
WHAT POS SYSTEM DO YOU USE?
Clover all day! Cheers!!
💪💯
We need more tips ..
I got you 👍
How much it's cost to open a liquor store
I got new videos coming out with that info. stay locked in. Cheers!!
Go SAINTS
Yessir!! Who Dat? Cheers!!
I show want to open a liquor store in ALABAMA
it would be UP in ALABAMA
WHO DAT
All Day