Whether you are opening a new restaurant or looking to expand your existing operation, an alcohol license can significantly impact your revenue. Obtaining one is a challenging process. However, it is well worth it in the long run.
Licensing the sale of alcohol is a responsibility that has to be taken seriously. The duties include protecting the wider community and reducing crime and disorder.
Increased Revenue
As a business owner, you should know the many benefits of an alcohol license. Among them, you’ll be able to increase your revenue by selling more drinks and offering more products.
Aside from increasing your profits, TABC permit will help you comply with all local laws and regulations governing alcohol sales. If you try to serve alcohol without permission, you may face fines or even be shut down from your business.
The sale of alcohol carries a higher responsibility than other types of licensed entertainment and late-night sales of food or non-alcoholic drinks because of the harm alcohol can cause to the broader community, such as crime, disorder, antisocial behavior, health problems, and road safety issues.
Increased Customer Loyalty
Having happy customers means they spend more money more often. Loyal customers are also more likely to recommend your business to others, which can open up even more revenue streams.
Customer loyalty is a crucial factor in the success of your business, especially during tough economic times. Research shows that repeat customers spend up to 67 percent more than new customers, and recruiting a new customer costs around five times more than retaining an existing one.
Building customer loyalty takes time and energy but pays off in the long run. Here are some ways to cultivate a loyal base that will help your business thrive:
A great way to build customer loyalty is by making them feel valued outside of the sales transaction. Consider creating events and activities that go beyond the everyday shopping experience. Whether it’s offering skateboard halfpipes at your brick-and-mortar store or hosting charity events to benefit local causes, creating memorable experiences will increase the level of loyalty from your customers.
Increased Brand Awareness
Alcohol brands are increasingly using social media to engage with their customers. They use clever, cross-platform advertising and create engaging content that their fans love to share.
This can lead to a positive impact on your brand awareness. Whether you focus on ready-to-drink cocktails for busy millennials or high-end scotch and bourbon, developing a famous brand is crucial for success in the alcoholic beverage industry.
The positive impact of an alcohol license on your revenue can be an excellent boost for your business, but it’s also essential to ensure that you’re operating correctly. After all, many regulations come with an alcohol license, and it’s best to be prepared before you start your business.
It’s a good idea to build a mailing list of potential customers and send them newsletters that give them information about new products, special promotions, and events. Creating an account on popular social media platforms and sharing photos and content with your followers is also a good idea.
Increased Productivity
A suitable alcohol license can help your business be a more productive workplace. This includes making sure you’re appropriately stocked and ensuring your employees are trained in the right way to serve alcohol to patrons.
This can be done using a proper pour and stocking the correct amounts of beverages. This will also ensure your bar staff does their part to protect patrons from drunk driving and other potential hazards.
