Founding a Liquor Store in New Zealand With Ease

The liquor business is one of the most profitable in New Zealand. Since, New Zealanders have a binge drinking culture, which they inherited from their erstwhile British ancestors, beer is among the most favourite drinks after coffee. Due to the recent boom in the Indian community in New Zealand, there is a huge demand for Indian Liquor Stores in New Zealand.  There is a huge Punjabi community, living in New Zealand, which are among the heaviest liquor consumers in India.

But one must understand, that there is heavy competition among liquor stores, for capturing the present market. Since New Zealand is a small market, there is a lot of competition among the existing Indian Liquor Stores in Auckland. Since, Auckland is perhaps the most expensive city in New Zealand, so store owners, have to work much harder to find more customers. One more interesting thing is that, just like Indian immigrants, Chinese immigrants are also heavy consumers of alcohol. In many Kiwi cities like Wellington, many Chinese people also visit Indian Liquor Stores in Wellington.  Due to genetic similarities, the drinking habits of both Indian and Chinese men, in particular, are a lot similar. Now, let's see the easiest ways, by which an individual can commence the liquor store in New Zealand.

1)  The Business Owner makes a Good Business Plan

In New Zealand, due to very high competition, in many cities like Christchurch for establishing Indian Liquor Stores in Christchurch, the business owner must make a well-drafted plan, before he or she can start the store. One of the easiest ways is by purchasing an existing liquor store, then by setting up a new one. This will help a great deal in reducing the initial costs, since the cost of establishing a new shop is at least 200000 NZD, in all the major Kiwi cities. Another important criterion is that the entrepreneur must do complete research on the existing competitors and rivals, before starting his business. This will help him greatly, in capturing a big share of the market.

Another very significant factor is that the owner must know where he can purchase his products. He must also know how to maintain his inventory, since, the inventory will decide, the perception of the customers. The inventory consists of well-stocked shelves full of liquor bottles.

2)  The owner must be able to search for the perfect shop or the location, he wants to rent.

This is a valuable factor when establishing his store in New Zealand. In a city like Hamilton, when a business owner, desires to establish Indian Liquor Stores in Hamilton, he should be able to search for a good location, where his store is located, or where he desires to establish a new shop. One of the main criteria is that the location must be approved for alcohol sales. As per Kiwi laws, it should not be close to schools, colleges, and educational institutions. The area must have plenty of parking space for customers, and frequented by customers, and should be secure and safe.

3)  Acquire Funding Sources

This is perhaps the most important factor in the process, of starting one own's liquor store. The entrepreneur can avail of loans from all leading banks like Australia & New Zealand Bank, Hong Kong Shanghai Banking Corporation, Citibank, etc. Currently, the lending rates of interest are extremely low, for creating new Indian Liquor Stores in Tauranga, with some as low as one per cent. The credit score of the individual is the main criterion, for issuing loans and there are numerous startup schemes, which give loans, to new entrepreneurs. Also, there are many private venture capitalists, who give loans to new people.

4) The Business must be registered

All new businesses must be registered, with the authorities, after the name and location are finalized. Then, the owner must talk to the respective authorities of the cities, where he has established his business, forgetting it registered. For example, if you are starting your shop in Auckland, then you need to contact the authorities of Auckland, to get your shop registered. After registration, the owner will receive a license no and registration number, which will be valid for at least five years.

Final Words

Just like their UK counterparts, the favourite pastime of Kiwis is to drink beer and watch rugby. So, liquor stores are cropping up in every nook and corner. In this blog, readers will come to know the required steps for starting their liquor store in New Zealand.