Venture Concepts Paper

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Venture Concepts Paper Krashanti Wyatt FIN/375- Financial Management in the Small Business 10/01/2012 Dr. Betty Ahmed Venture Concepts Paper Introduction 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…show more content…
The business must have license showing the approved liquor license classes and expiration date, license showing the cigarette retailers license, tobacco warning signs, minor posting signs, firearms prohibited sign, and fetal alcohol syndrome (FAS) warning sign must be posted in the women restrooms and clearly visible at the entrance to the store. Other equipment that is needed are break room supplies, computer, registers, networking equipment, office supplies, printers, scanners, phone system, security system, point of sale, and postage and mailing. Target Customer Demographics and Marketing Channels Wyatt’s Liquor and Tobacco Store intends on using a number of marketing strategies that will allow the store to easily target men and women within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet. The store will also use an Internet Based Strategy. This is very important as many people seeking local product providers, such as liquor stores, now use the Internet to conduct their preliminary searches. Wyatt’s Liquor and Liquor Store will register with online portals so that potential customers can easily reach the business. The store will also develop its own website and will maintain a sizable amount of print and traditional advertising methods within local markets to promote the beer, liquor, and tobacco products that
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