FIN/375- Financial Management in the Small Business
Dr. Betty Ahmed
Venture Concepts Paper
The conceptual venture that I am going to start when I get all the resources that I need is Wyatt’s Liquor and Tobacco Store. At my store, customers will be able to purchase varieties of liquor, beer, wine, and tobacco products. The Wyatt’s Liquor and Tobacco Store will be the cheapest store around that customers will be able to purchase liquor and tobacco products all the time. In order for me to start my business, I have to get an beer-sales license, tobacco license, beer and tobacco sales training program, business license, business plan, retail storefront, wholesaler contract, promotional materials, and advertising plan. An expansive, affordable inventory sets my tobacco and beer specialty retailer apart from a consumer’s other options, such as convenience stores. Choosing an accessible location for Wyatt’s Liquor and Tobacco Store is essential, as are unique products. Abiding by all state and local laws is also essential. Employees
At the Wyatt’s Liquor and Tobacco Store, I will start with four employees. These employees will receive a Mandatory Alcohol Server Training (MAST) permit, which is required by law for employees who serve alcohol, tobacco, or supervise the sale of alcohol for on-premises consumption. To help my employees to make responsible sales, I will provide free responsible alcohol and tobacco sales classes regularly. All employees must ask for ID from all customers no matter how old customers look. At Wyatt’s Liquor and Tobacco Store we do not sell any items to customers that are underage or if they don’t have their ID. Type of Facilities and Equipment Needed
Wyatt’s Liquor and Tobacco Store will be a tobacco importer, which is anyone who wishes to import tobacco products (cigarettes, cigars, chewing tobacco, snuff, pipe tobacco, roll your own tobacco) into the United...