Keep Your Business in High Spirits with Liquor Store Loans

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Funding Can Help You Take Advantage of a Flowing Market

Liquor store loans can provide the cash you need to improve your business. Opportunity abounds for beer, wine, and liquor stores. Research from IBISWorld makes the potential clear, pointing out that per capita income is rising, leaving consumers more likely to spend on goods like alcohol.

You can use liquor store loans to take advantage of the growing market, including investing in niche alcoholic beverages or engaging in innovative sales models. You’ll need to find the right source for a  loan given your financial situation, time frame, and priorities. Once you secure a liquor store loan from the right lender, you can overcome many of the typical hurdles small businesses face in this industry.

Liquor Store Industry Overview

As a liquor store business owner, you will be pleased to learn the alcoholic beverage market is continuing to grow. Those operating convenience store businesses that sell alcohol are benefiting from this as well. According to IBISWorld, the U.S. beer, wine, and liquor store market is valued at $61.1 billion for 2019. This comes after the sector expanded at a compound annual growth rate of 3.1% from 2014 to 2019. By the end of 2019, the sector is expected to continue expanding at the same rate. This growth is faster than the rest of the retail trade sector.

Opportunities are particularly strong for distributors focusing on beer. According to the Brewers Association, overall beer sales  added up to $114.2 billion in 2018. Of this amount, $27.6 billion, or about 24% of total sales, came from the craft beer sector. It may be a smart idea to use liquor store loans to invest in craft beer products in addition to the traditional staples filling your shelves and fridges

The Right Source for Liquor Store Loans

If you’ve never taken out a loan for your business before, you might not know where to begin. You might consider a traditional bank if you’re looking for a large loan amount and face-to-face service. Small Business Administration loans are another option to explore. However, both loan types have their share of drawbacks, including long, complicated application processes and high rejection rates. In addition, the SBA has strict guidelines on how you can use your liquor store loans.

Many small business owners find better luck securing loans through alternative lenders. These sources also offer loans that are tailored in type and amount to fit your specific business needs. Plus, the application is straightforward and you get access to the funds quickly.

How You Can Use Liquor Store Loans

Stock Up on Inventory

Stock Up on Inventory

Liquor store business loans provide you with funding to stock up on supplies. Inventory financing might help you get more product on the shelves in time for certain holidays and events. This type of funding can also be beneficial if you decide to invest in a popular, seasonal craft beer or stock up on one of the spiked seltzer brands that have recently experienced high demand and fluctuating supply.
Pay Your Store Employees

Pay Your Store Employees

Data USA reported that the average salary for liquor store employees is $33,619. You might use liquor store loans to pay your workers’ wages on time and in full. Working capital loans are especially helpful when you need to bring on staff ahead of a new project or sales effort. You may not have the capital to fund the hire, but the specific growth goal should make the salary affordable over time, making a small business loan a perfect fit to get you started.
Expand Your Business

Expand Your Business

Maybe you’re thinking about opening a second location in a neighboring town. Liquor store loans can help you cover land acquisition and rent for your new spot. Other expansion options also include Investing in new or high-end wine or beer beverages that could make your store stand out. Additionally, the funding can be used to launch marketing initiatives to get more foot traffic in your stores to help increase your sales.
Cover Short-Term Expenses

Cover Short-Term Expenses

If you have any immediate costs you need to work through, such as bills and unpaid invoices, you can secure bridge loans. This funding provides you with quick cash to pay off short-term expenses. Liquor store loans of this nature can help lessen this burden, so you can focus on more important parts of your business.

Why Choose QuickBridge for Liquor Store Business Financing?

  • Simple application process

  • Business loans of up to $500K2

  • Receive funds within days
  • No hidden fees

  • Early payoff discounts3

  • Flexible loan term options
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