Wine Shop Business Plan
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We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Wine Shops.
Below is a template to help you create each section of your Wine Shop business plan.
Executive Summary
Business Overview
Vineyard Select Wine Shop is a startup wine shop company located in Tulsa, Oklahoma. The company is founded by Crystal Thomas, a former wine distribution company marketing director, who has amassed over fifteen years of knowledge about premium wines and the companies who make them.
Crystal is confident that she can entice former clients of the wine distribution company to visit her wine shop and also refer her shop to their associates. Plans include a wealth of services and products that will be offered to customers, including several that encompass a few hours of relaxation and wine with friends. The Vineyard Select Wine Shop will be a one-stop shop for those residents in Tulsa who enjoy the many nuances of wine and those who have the interest in growing their own wine cellars to perfection.
Product Offering
The following are the products and services that will provide:
- A premium selection of wines, including exquisite wines from vineyards around the world.
- A curated wine collection that includes Blends, Burgundies, Sauvignon Blancs and Cabernets; we will offer a wine to suit every palate and occasion.
- A warm and inviting atmosphere offering relaxation and elegance.
- Knowledgeable staff members who assist customers in selections of wine.
- Regular wine tastings
- Wine & Fine Food evenings with charcuterie boards and wines to pair with them
- Wine aficionado events and musical happenings
Customer Focus
Vineyard Select Wine Shop will target all adults in Tulsa, Oklahoma. They will target those adults who are already engaged in wine clubs, those who shop at large retailers for wines and those adults who frequently imbibe wine. They will target companies to cater and present wine tastings. They will target party planners and event organizers to care and present wine pairings with light food accompaniments.
Management Team
Vineyard Select Wine Shop will be owned and operated by Crystal Thomas. She recruited her former administrative assistant, Kylie Cramer, to be the new Administrative Manager and help manage the wine shop and the day-to-day operations. Crystal also recruited Taylor Bowler, an experienced wine curator and expert, to take on the role of Wine Connoisseur in assisting customers with their selections.
Crystal Thomas, a former wine distribution company marketing director, has amassed over fifteen years of knowledge about premium wines and the companies who make them. Crystal is confident she can entice former clients of the wine distribution company to visit her wine shop and also refer her shop to their associates.
Kylie Cramer has been Crystal Thomas’s loyal administrative assistant for over ten years at the former wine distribution company. Crystal relies heavily on Kylie’s diligence, attention to detail, and focus when organizing wine tastings, client appointments, and files. Kylie will take on the role of Administrative Manager. She has worked within the wine industry for so long, she understands all aspects required in running a successful wine shop business.
Taylor Bowler is an experienced wine curator and wine expert who will take the role of Wine Connoisseur in the startup business. His role will be to share information with wine customers, oversee tastings, make recommendations and support the overall goals of the wine shop.
Success Factors
Vineyard Select Wine Shop will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team of Vineyard Select Wine Shop
- Comprehensive menu of globally-selected wines, wine accessories and wine glassware.
- Wine tastings on a regular schedule during the evening hours for wine-loving groups or companions
- Charcuterie boards and other light fare to accompany wine tastings.
- Vineyard Select Wine Shop offers the best pricing in the city on name brand and sought-after wines. Their pricing structure is the most cost effective when compared to the competition.
Download the Wine Shop business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
Vineyard Select Wine Shop is seeking $200,000 in debt financing to launch its Vineyard Select Wine Shop. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for Vineyard Select Wine Shop.
Company Overview
Who is Vineyard Select Wine Shop?
Vineyard Select Wine Shop is a newly established, full-service wine shop in Tulsa, Oklahoma. Vineyard Select Wine Shop will be the most reliable, customer-centric and well-stocked wine shop choice within Tulsa and the surrounding communities. Vineyard Select Wine Shop will provide a comprehensive menu of wine, wine accessories, wine products and services for any wine-lover to utilize. Their full-service approach includes a comprehensive array of wines and wine tastings.
Vineyard Select Wine Shop will be able to sell, host and engage with wine and wine-lovers in the community. The team of professionals are highly qualified and experienced in globally-sourced wines and premium accessories. Vineyard Select Wine Shop removes all headaches and issues of the wine buyer who needs assistance and ensures all issues are taken care of expeditiously while delivering the best customer service.
Vineyard Select Wine Shop History
Crystal Thomas, a former wine distribution company marketing director, has amassed over fifteen years of knowledge about premium wines and the companies who make them. Crystal is confident she can entice former clients of the wine distribution company to visit her wine shop and also refer her shop to their associates.
Since incorporation, Vineyard Select Wine Shop has achieved the following milestones:
- Registered Vineyard Select Wine Shop, LLC to transact business in the state of Oklahoma.
- Has a contract in place for a 10,000 square foot office at one of the urban areas of Tulsa
- Reached out to numerous contacts to include Vineyard Select Wine Shop in their shopping experiences.
- Began recruiting a staff of four and two office personnel to work at Vineyard Select Wine Shop
Vineyard Select Wine Shop Products and Services
The following will be the products and services Vineyard Select Wine Shop will provide:
- A premium selection of wines, including exquisite wines from vineyards around the world.
- A curated wine collection that includes Blends, Burgundies, Sauvignon Blancs and Cabernets; they will offer a wine to suit every palate and occasion.
- A warm and inviting atmosphere offering relaxation and elegance.
- Knowledgeable staff members who assist customers in selections of wine.
- Regular wine tastings
- Wine & Fine Food evenings with charcuterie boards and wines to pair with them
- Wine aficionado events and musical evenings
Industry Analysis
The retail wine shop industry is expected to grow over the next five years to over $686 billion.
The growth will be driven by the increasing wine consumption globally
The growth will be driven by a growing interest in wine education
The growth will also be driven by a focus on craft and artisanal wines
Costs will likely be reduced as the supply chain is streamlined for greater efficiency
Costs will likely be reduced as direct-to-consumer wines become more popular
Costs will also likely be reduced collaboration and cooperative buying
Download the Wine Shop business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
Vineyard Select Wine Shop will target all adults in Tulsa, Oklahoma. They will target those adults who are already engaged in wine clubs, those who shop at large retailers for wines and those adults who frequently imbibe wine. They will target companies to cater and present wine tastings. They will target party planners and event organizers to care and present wine pairings with light food accompaniments.
The precise demographics for Vineyard Select Wine Shop are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Vineyard Select Wine Shop will primarily target the following customer profiles:
- Adults who reside in Tulsa, Oklahoma
- Adults who enjoy wine clubs, wine trips, wine aficionados
- Companies who seek catering and wine tastings
- Party planners and event coordinators
Competitive Analysis
Direct and Indirect Competitors
Vineyard Select Wine Shop will face competition from other companies with similar business profiles. A description of each competitor company is below.
Grapevine Cellars
Grapevine Cellars is a well-established wine shop located in Tulsa, Oklahoma, offering a wide range of domestic and international wines. Known for their extensive selection and knowledgeable staff, Grapevine Cellars caters to wine enthusiasts of all levels, from casual drinkers to experienced connoisseurs. The shop prides itself on providing personalized service, hosting regular tastings, and showcasing unique and limited-edition wines. Grapevine Cellars has created a loyal customer base through its commitment to quality, expertise, and a diverse collection of wines. Grapevine Cellars opens during evening hours in the summer, where musical entertainment is provided on the back deck of the company. The customers gather for wine, light snacks and musical accompaniments, while selecting their favorite wines for purchase.
The Wine Emporium
The Wine Emporium is a boutique wine shop located in downtown Tulsa. It sets itself apart by focusing on small-batch and artisanal wines sourced from local wineries and unique global regions. With a carefully curated selection, The Wine Emporium offers customers the opportunity to explore limited-production wines with distinct flavors and stories. The shop specializes in selling case-packs only, which contain a minimum of twelve bottles. Pricing is offered by negotiation with the buyers and the art of negotiation is often enjoyed by onlookers who pick up best practices from the most crafty of wine buyers.
The shop emphasizes a personalized approach, providing written descriptions and recommendations for each wine. Wine tastings are not offered, as the case packs are not broken prior to sale.
Vintage Sips Wine Bar
Although an indirect competitor, the Vintage Sips Wine Bar has similarities to the Vineyard Select Wine Shop. For example, varietal wines are sold, but only by the bottle and on a very limited basis. Also, popular wines are those offered at the bar, therefore, choices remain the same with each visit to the Vintage Sips Wine Bar. Light musical accompaniment is offered to guests and a light menu of desserts crafted to accompany various wines is offered.
Vintage Sips Wine Bar is owned and operated by Steel Oak Winery, which is located forty miles from Tulsa. The winery staff members rotate in operating the Vintage Sips Wine Bar and the evenings are predominantly set by the various staff members who are entertaining and often educate guests about the evolution of fine-wine making in the U.S.
Download the Wine Shop business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
Vineyard Select Wine Shop will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly-qualified team of Vineyard Select Wine Shop
- Comprehensive menu of globally-selected wines, wine accessories and wine glassware.
- Wine tastings on a regular schedule during the evening hours for wine-loving groups or companions
- Charcuterie boards and other light fare to accompany wine tastings.
- Vineyard Select Wine Shop offers the best pricing in the city on name brand and sought-after wines. Their pricing structure is the most cost effective when compared to the competition.
Marketing Plan
Brand & Value Proposition
Vineyard Select Wine Shop will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who are able to provide a comprehensive array of select wine products and services.
- Wine tastings on a regular schedule during the evening hours for wine-loving groups or companions
- Charcuterie boards and other light fare to accompany wine tastings.
- Vineyard Select Wine Shop offers the best pricing in the city on name brand and sought-after wines. Their pricing structure is the most cost effective when compared to the competition.
Promotions Strategy
The promotions strategy for Vineyard Select Wine Shop is as follows:
Word of Mouth/Referrals
Crystal Thomas has built up an extensive list of contacts over the years by providing exceptional service and expertise to her contacts and clients. The contacts and clients will follow her to her new company and help spread the word of the Vineyard Select Wine Shop.
Professional Associations and Networking
Vineyard Select Wine Shop will take an active role in community associations and professional industry collaborations. The shop will engage with members to provide wine for events and educate members on the subject of global wines.
Social Media Campaign
A social media campaign will include all social media channels, announcing the opening of the Vineyard Select Wine Shop two weeks prior to the opening. A discount and package pricing will be offered during the first month of business. Tulsa-located businesses will also receive social media callouts with the new shop information, offering bulk discounts for events and parties.
Website/SEO Marketing
Vineyard Select Wine Shop will fully utilize their website. The website will be well organized, informative, and list all the products services that Vineyard Select Wine Shop provides. The website will also list their contact information and list tastings that are scheduled. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “wine shop” or “wine store near me,” Vineyard Select Wine Shop will be listed at the top of the search results.
Pricing
The pricing of Vineyard Select Wine Shop will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for Vineyard Select Wine Shop.
Operation Functions:
- Crystal Thomas will be the owner and President of the company. She will oversee all staff and manage client relations. She has spent the past year recruiting the following staff:
- Kylie Cramer will be the Administrative Manager who will manage the office administration, client files, and financials.
- Taylor Bowler will be the Wine Connoisseur, operating the tasting room and assisting customers in wine selections.
Download the Wine Shop business plan template (including a customizable financial model) to your computer here <–
Milestones:
Vineyard Select Wine Shop will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel employment contracts for the Vineyard Select Wine Shop
- 6/1/202X – Finalize contracts for Vineyard Select Wine Shop suppliers
- 6/15/202X – Begin networking at associations and industry events
- 6/22/202X – Begin moving into Vineyard Select Wine Shop office
- 7/1/202X – Vineyard Select Wine Shop opens its doors for business
Management Team
Vineyard Select Wine Shop will be owned and operated by Crystal Thomas. She recruited her former administrative assistant, Kylie Cramer, to be the new Administrative Manager and help manage the wine shop and the day-to-day operations. Crystal also recruited Taylor Bowler, an experienced wine curator and expert, to take on the role of Wine Connoisseur in assisting customers with their selections.
Crystal Thomas, a former wine distribution company marketing director, has amassed over fifteen years of knowledge about premium wines and the companies who make them. Crystal is confident she can entice former clients of the wine distribution company to visit her wine shop and also refer her shop to their associates.
Kylie Cramer has been Crystal Thomas’s loyal administrative assistant for over ten years at the former wine distribution company. Crystal relies heavily on Kylie’s diligence, attention to detail, and focus when organizing wine tastings, client appointments, and files. Kylie will take on the role of Administrative Manager. She has worked within the wine industry for so long, she understands all aspects required in running a successful wine shop business.
Taylor Bowler is an experienced wine curator and wine expert who will take the role of Wine Connoisseur in the startup business. His role will be to share information with wine customers, oversee tastings, make recommendations and support the overall goals of the wine shop.
Financial Plan
Key Revenue & Costs
The revenue drivers for Vineyard Select Wine Shop are the fees they will charge customers for their wines, wine accessories, wine tastings, food and bulk wine purchases.
The cost drivers will be the overhead costs required in order to staff Vineyard Select Wine Shop. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Vineyard Select Wine Shop is seeking $200,000 in debt financing to launch its wine shop. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
Download the Wine Shop business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Customers Per Month: 400
- Average Revenue per Month: $60,000
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Wine Shop Business Plan FAQs
What Is a Wine Shop Business Plan?
A wine shop business plan is a plan to start and/or grow your wine shop business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your Wine Shop business plan using our Wine Shop Business Plan Template here.
What are the Main Types of Wine Shop Businesses?
There are a number of different kinds of wine shop businesses, some examples include: Specialty wine, General wine, Wine shop and bar, and Winery.
How Do You Get Funding for Your Wine Shop Business Plan?
Wine Shop businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Wine Shop Business?
Starting a wine shop business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Wine Shop Business Plan - The first step in starting a business is to create a detailed wine shop business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your wine shop business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your wine shop business is in compliance with local laws.
3. Register Your Wine Shop Business - Once you have chosen a legal structure, the next step is to register your wine shop business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your wine shop business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Wine Shop Equipment & Supplies - In order to start your wine shop business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your wine shop business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.