There are several versions that can affect the tax debts of each partner.Ī sole proprietorship is the way to go to avoid double taxation. If you want your business to be publicly traded, a corporation is the right choice.That means the business itself doesn’t pay. A limited liability company is flexible in the type of management structure it has.You can choose from several different types including DBA, corporation or LLC. Registering startup liquor stores as business entities is an important step. You can also go to accredited investors and raise money with SEC rules. Look for federal, state or regional options.Ĭrowdfunding is another way to get the money you need for starting a liquor store. Small business grants come in different types.The majority of startups either use savings or reinvest profits after they start. Bootstrapping is another way to get the money to start your business.These are guaranteed by the Small Business Administration. Watch out for any terms that might limit your liquor stores future growth. ![]() ![]() Maybe you’re focusing on spirits and wine or craft beers? One note of caution when you’re putting together this list. Think about what makes your inventory different than the competition. And that means new liquor stores need to have a good name. Think of a Business Name for Your Package StoreĪ big part of a successful business entity is branding. Running test ads can also help you to define your target market. Getting information about your rivals’ strategies can help. The customers they have could be the ones you want. This makes for personal customer service. Find your customers using geographic characteristics. The chances are your liquor sales will only be relevant to one area. Consider the demographics like gender and income level. Find who will benefit the most from your liquor store.
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