Question about opening a wine shop

A good friend and I are starting to talk a little bit about opening a wine shop in Los Angeles and we are trying to figure out how much money and resources it will take. Neither of us has owned a business like that and neither of us has really worked retail regularly in quite some time (I'm currently a sales rep for a small wine importer and he has some bar experience from years ago.) Just looking for any advice and any ballpark figures of what kind of money we should try to raise. It's just an idea right now so we're trying to figure out what is feasible. Thanks!

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  • It really depends on what kind of wine shop you want to run. 

    How big of a space do you want?

    What part of town?

    What type of wines will you sell?

    How many days will you be open?

    How many employees?

    What are the tax laws and prices on alcohol licenses you will need?

    You need to come up with a few different business plans and figure out your budget.  You could open up a wine shop for a few thousand or a few hundred thousand.  Too many factors to give you an honest number.