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So a friend of mine and myself have been talking about opening a liquor store (or bar, i'm leaning towards a more sustainable liquor store, maybe expanding one day when we've got our feet wet) near his neighborhood. i live nearby, and it's a good neighborhood, with no liquor stores very close by. closest one is a ritzy wine store, that is super overpriced. He's got quite a bit of capital saved up, due to a workers comp claim. between a business loan and that i think we'd have overhead covered. i imagine stock is a pretty significant investment, beyond the usual stuff. Are there any pitfalls we should look out for? I know bar liquor licenses are hard to come by in our town (glut of bars), are retail licenses held to similar standards? My concern is that a lot of stores around are either hoity toity, or complete crapholes. I'm worried you either have to cut corners or overcharge to be profitable. Anybody have any experience?
Yes i realize, with my incredibly terrible luck, opening my own business is probably the last thing i should ever ever do.