Taking ownership of a liquor store is an exciting new chapter — and a chance to make the business your own. Based on our experience working with hundreds of store owners, the following steps are recommended to help you establish efficient operations, maintain compliance, and build a strong foundation from day one.
This guide, featured in The Advisor – Issue #48, highlights operational steps that are easy to overlook in the planning process — but essential to hitting the ground running with clarity and confidence.
Contact utility providers — electric, gas, water, internet, and phone — to transfer accounts into your business name. Verify activation dates and billing access. Arrange regular services such as trash removal, cleaning, snow removal, and maintenance. Update store access by rekeying locks, resetting alarm codes, updating safe combinations, and ensuring cameras and ID scanners are working properly. These measures support regulatory compliance and help prevent underage sales.
Connect with applicable product suppliers listed by the seller, including alcohol distributors, grocery and ice vendors, and ATM operators. Submit any required credit applications to open accounts and establish delivery schedules.
Ensure all required and/or applicable licenses such as liquor, lottery, tobacco, and nicotine delivery systems — are active and clearly displayed. Staying organized and up to date with regulatory requirements is essential for businesses in this industry.
Set up payroll under your new business entity, whether retaining staff or hiring new. Register for state and federal employment taxes, secure workers’ compensation insurance, and ensure all staff hold valid TIPs certifications or equivalent training. This training isn’t just a formality — it’s an essential part of running a responsible, well-managed operation. This certification helps staff manage compliance-related situations, recognize signs of intoxication, and support responsible alcohol sales.
Open a business bank account and set up credit card processing. Confirm that your POS and merchant services are connected, tested, and fully functional before opening.
We know there’s a lot to manage in the early days of ownership, which is why we’re here as a resource — to help simplify the transition, answer questions as they come up, and support your long-term success.
Click here to read April’s newsletter: The Advisor – Issue #48