The off licence is a fixture of many a British street corner. Many double up as newsagents or convenience stores, while others are more focused on stocking an extensive range of wine, beer and spirits. Although off-licences have increasingly had to compete with supermarkets in recent years, nevertheless, if you choose your location carefully and pick a business that has a proven track record, you could find yourself a valuable niche.
Before looking for off licences for sale, it’s worth considering the hours you want to work. If your business is part convenience store and part off licence, you’ll probably be looking at a long working day, while off licences trading as a separate business often open from mid-morning till late evening. Holding enough stock in an off licence can be an expensive exercise so you’ll need to make sure you have enough working capital to cover your initial stock purchases, as well as rent, wages and any other outgoings before your income establishes itself into a pattern.
Running your own off licence can be a rewarding business. You’ll have the ability to choose the kind of stock you carry and will be able to tailor your offering to suit the community you serve. If you are prepared to specialise in a particular area – artisan gin, for example – you could also have the satisfaction of building a reputation for excellence across a wider area.
When considering buying a business, location is key. You’ll need to check out all potential competitors in the immediate area, as well as looking for businesses – such as takeaways – that are likely to have a positive effect on your levels of custom. Free, on-street parking directly outside your shop is a big bonus.