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Setting up an Off Licence

Off Licence Insurance: Want to own and run an off licence, but not sure how you go about setting an off licence up?
First a business needs a business plan, which outlines:
• Product. What sort of alcoholic & non alcoholic drinks and which tasty snacks are you planning to sell from your off licnce? Are you planning to provide other products like batteries, loto tickets, scratch cards, cigarettes, cigars? Where are you going to buy them from? What checks will you put in place to stop minors purchasing them from your off licence?
• Premises. Where will the off licence be? Identify what hours will you be open? Does the planned premises have shelving, counter, staff room etc? Think about the items you will need to purchase e.g. till, computers, shelving, heating/ cooling
• Staffing. Who is getting the products? Who will be serving? Who will do the books? Whos is responsible for health and safety? Who manages the payroll/ government bodies/ VAT
• Customer base. Where will your customers come from to visit your off licence?
• Promotion. How and where you will advertise your off licence? Ho much are you planning to spend on advertising? Can you think of any thing unique that you can advertise?
• Funding. Having worked out how much you will need to spend to get the business up (see above) how are you going to cover this and several months of no sales?
• USP. What is your Unique Selling Point? Why should someone buy drinks and snacks from your off licence rather than the your nearest competition?

So you have an off licence that looks good on paper, what next? First you need to tackle the fitting out of the off licence's premises, but at the same time you will need to tackle other off licence tasks:
• Council. You will need to apply to the local council for a suitable licence to sell alcohol. Allow plenty of time as council's will not move as fast as you will want them to progress things.
• Pricing Structure. Think how your off licence will mark up the products, considering how you will entice more products are sold, be it using BOGOF, 4 for 3 or even a loyalty card.
• Register your off licence as a company. Depending if you are having sole trader, partnership or limited company status (each have their own merits and disadvantages). Either way you will need to inform the Inland Revenue (currently held under HM Revenue and Customs). You need to set it up first as set up but not trading. You can advise them when you're ready to trade the status of your off licence has changed to trading.
• Banking. You will need to arrange business account for your off licence business. This account will only be for business transactions. You will probably want to set up a credit card payment facility enabling customers to purchase using credit cards. Do consider that a high percentage of visitors will want to pay by cash and cheque so think about a safe and 'bank runs' so you do not hold too much cash on site.
• Insurance. You will need insurance for your off licence covering the off licene's premises (buildings and contents). Additionally, consider PI (Professional Indemnity) and Employers Liability (if you have 5 or more staff). Other considerations should include Vehicle insurance (vehicles used for cash and carry runs etc). These should form your minimum coverage.
• Printing. You will need letter headed notepaper, special offers and flyers.
• Accountant. Not only to review your annual books but someone you can trust to assist you in running your business, or at least reviewing your spending plan to ensure you stay profitable for your first few years.

GOOD LUCK on your off licence, dont forget your off licence insurance!

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Off Licence Insurance: Wherever your off licence is, whatever you sell let Lionheart Insurance provide you the right insurance cover, whatever the hour. You will be carried away by our insurance price! Call FREE on 0800 917 5227

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Lionheart Insurance Services Ltd is authorised and regulated by the Financial Services Authority, Ref 499589

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Head Office: 11 Station Road, Erdington, Birmingham, B23 6UB. Company No: 6852775
0800 917 5227 or 0121 382 0856

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