Knowing how to sell wine is important if you are opening your own wine business or just looking to liquidate your stash. Selling wine is a great way to make some extra cash if you know a few key tips in how to do it. Follow these few simple steps to successfully sell wine.
- Know what you are selling. Make sure you are familiar with the wine you plan to sell. Maybe you want to sell that expensive bottle of wine you won at the holiday office party last year. It could be that bottle of wine that your neighbor brought over to welcome you to the neighborhood. Perhaps you just want to start your own wine business. No matter what the case may be, make sure you know something about the wine you are selling. You can always do an online search if you are completely clueless about the wine you want to sell. Knowing whether you are selling a Moscato or a Riesling will help you sell your wine.
- Price it right. Make sure you price your wine competitively. You can do an internet search to find out what particular types of wines are selling for. You don't want to overprice your wine, but you still need to make a profit. Find out what other wine retailers in your area are charging. If you own the only wine store in town, you can probably charge a higher price. If you are one of ten different vendors, you will have some stiff competition. You might want to think about giving a discount for buying in bulk.
- Sell online. If you don't have a brick and mortar store, you can always set up an online store. If you don't want to purchase your own website, there are plenty of websites that allow you to sell your wine. Selling online is cheaper because you don't have to worry about the costs associated with owning your own retail store. When selling online, it is a good idea not to accept cash or checks as payment for wine.
- Offer a wine tasting. If you are setting up your own brick and mortar store, you can conduct a wine tasting to help sell your wine. This is a great way to let potential customers taste before buying the wine. Many wine connoisseurs like to sample wine before buying. You can set up certain days you will conduct a tasting or you can just have some refrigerated wine on hand to offer your customers. Offer a wine tasting and you'll be a lot more likely to sell wine and be successful with your business.
- If you are selling your wine online through a second party website, keep in mind you will probably have to pay a fee of some sort. Most second party sites will charge you some type of fee to sell your wine and may even take a portion of the final sales price.