Wine business is one of the many lucrative businesses that you can operate in Nigeria if you have the resources.

Starting a wine store or wine business requires that you have a bit of wine knowledge and understand the different types of wine, because most times, you’d be offering advice and suggestions to your customers on the type of wine that is befitting for different occasions.

Such advice and suggestions creates room for confidence, trust and positive relationship with your customers.

A few years ago, running a retail wine store requires that you own a physical store and stock your shelf with wines of different caliber. That is not the case anymore.

With the internet revolution, you can now operate an online wine store where people can easily communicate with you, place an order and you deliver to them. However, this is a very delicate process and requires some level of trust before your target audience would begin to trust you and order from you.

So what are the necessary requirements for running a wine business?

1. Wine knowledge.
As required of every business, it is important that you have a bit of wine knowledge, if you wish to effectively run a wine business. Having wine knowledge would increase your authority status in the mind of your prospective customers. It opens up the path to building trust and creating lasting relationships because you’ll be sharing your knowledge with your prospects/customers and guiding them through the process of wine selection.

2. Finance.
You need money to run a wine business. That’s the truth. Depending on the kind of wine you wish to stock, money is very relevant in this line of business. Some wines are quite expensive and the expensive wines are what a good number of people are interested in purchasing.

Depending on your location, you should budget about 500k – 700k to start your business. That’s for a small scale wine store and the amount does not include the price for renting a store or putting up a wine shelf. The amount is for stocking up your store for a start.

The more sales you make, the more you get your store stocked up and gradually, you’ll grow from there.

3. Location.
An important factor that you must consider before starting your journey into the wine business is location.
You need a good location to succeed in the wine business. Your should be located in a busy part of the city where legs and cars can have access to your wine store.

If your wine store is in a hidden place, it would affect your sales, since many people would not see your store. Visibility matters a lot in business, especially in this age and time where attention is shortlived.

4. Find a reliable supplier.
One of the best and easiest way to grow big in wine business is to sell only original wine, not fake products. That is why it is important to have a reliable supplier who only deals on original products.

REVEALED – 5 Easy Ways To Identify A Fake Champagne.

Once you have this sorted out, then you’re on the right track to becoming successful in running a wine business. If you make Wine House Nigeria your supplier, be assured that all the wines you will get are 100% authentic. We have a couple of wine stores that get their supplies from us and they are very happy with our services, and also, they are making good profit because we also teach them the best ways to attract customers and grow their business. If you want us to be your supplier, you can contact us by clicking HERE.

5. Have an online presence.
One factor that helps businesses to achieve growth in a short period of time is visibility and the internet offers that through social media.
Get a social media presence on Facebook and Instagram and promote your business there. Social media makes communication easy and offers a platform for effective storytelling.

6. Promote your business.
If you have a business and nobody knows about it, you won’t make sales and when money is not coming in, you’ll be out of business in a short time.
Talk to people about your business. Market yourself. Promote your business with every opportunity that you have. Visit hotels, wine bars, clubs and inform them that you can supply them wine whenever they need it. Talk to your friends and family, when they need wine for a birthday party or any celebration, they should contact you for wine.

Sales is a game of number. The more people you can reach, the higher your chances of converting a few of them into paying customers.

You can promote your business through social media, influencer marketing, blogs, directories, google adverts etc.

Attend wine events, network with people and leverage on your good relationship with them. Ask your customers for referrals. If they are satisfied with your services, they would be glad to refer their friends to you.

Having a wine store or running a wine business comes with many challenges like getting customers and making sales but that should not discourage you because every business has its challenges too.
Go ahead, start the business, learn the process, put in the work, be patient and you will become successful.

If you would like to get in touch with us, follow us on Instagram to learn more about wine and grow your wine knowledge. CLICK HERE to follow us on Instagram.

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