Wine Shop

Opinions expressed by Entrepreneur contributors are their own.

Startup Costs: $10,000 - $50,000
Franchises Available? No
Online Operation? Yes

Retailing wine can be extremely profitable, and this type of business can even be operated from a well-positioned kiosk located in a mall or market. In the right location, walk-in customers will keep you busy selling lots of wine. But as a method to bolster sales and profits, also be sure to establish alliances with event and wedding planners, catering companies, and business clubs and associations as they can become a great source of repeat business. Like any retail business, seek a competitive advantage, meaning offer your customers something the competition does not. Perhaps phone-in orders with free delivery or maybe a weekly wine tasting night. The ability to separate your business from the competitions' often is the difference between business success or business failure.

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