Opening a restaurant can be an expensive and time-consuming process. But a few steps are more critical to a successful business than obtaining a liquor license.
A liquor license can significantly increase your profit margins, mainly when selling alcoholic beverages with food. It also increases your customer traffic.
Increased Profits
A restaurant with a liquor license often generates a much higher percentage of its profits from alcohol sales. This is because many diners associate alcohol with their food and drink, making it easier to sell high-profit margin drinks.
Additionally, a liquor license Houston TX can help restaurants attract larger crowds to their business, making them more attractive to people who would otherwise not patronize the establishment. It can also help them recoup their costs quickly, which is especially beneficial if they open their establishment for the first time and must make up for any lost revenues.
Getting a liquor license can be costly and complex, but increasing your business’s profits is well worth the effort. However, before you decide to go ahead and obtain your liquor license, it is essential to check whether your local zoning laws and regulations permit such a move.
Increased Customer Traffic
One of the most significant benefits of obtaining a liquor license for your business is increased customer traffic. This is a critical element for any retail store, as increased foot traffic means increased sales.
The first step to increasing customer traffic is ensuring your employees provide excellent customer service. A smile on a bartender’s face or a prompt and polite response to a social media complaint will surely increase your customer base.
Another way to increase your customers is through an effective marketing strategy. For example, a well-rounded digital marketing strategy that includes paid search, display advertising, and organic search will help your business to reach more people and increase customer traffic.
Increased Resale Value
One of the most important benefits of obtaining a liquor license for your business is its increased resale value. If you plan on selling your restaurant in the future, having a liquor license could be a significant asset to buyers.
This is because many consumers enjoy eating out and consuming alcoholic beverages as part of their dining experience.
A liquor license is also a valuable business tool for restaurateurs because it allows them to expand their menus and attract more customers. They can offer more drinks, such as cocktails and beer, significantly boosting their bottom line. In addition, a liquor license is an excellent marketing tool for a new restaurant trying to build its reputation in the community.
Reduced Liquor Liability
Obtaining a liquor license for your business may help you minimize the risk of costly lawsuits. This can be a significant benefit for many companies.
Accidents and injuries can happen despite your efforts to create a safe environment for patrons. Depending on your location, these accidents can cost hundreds of thousands of dollars and even more in cases of death or severe injury.
The best way to reduce these risks is by teaching your staff the signs of intoxication. From slurred speech and red eyes to inhibited motor skills, you can help your team identify patrons who are intoxicated before they get into an accident or cause property damage.
Liquor liability insurance is typically a separate policy from general liability insurance, which helps to ensure that you are protected in the event of a claim. This is because available liability policies are designed to cover various types of accidents and injuries, while liquor liability coverage is explicitly tailored to alcohol-related events.
