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Answer from our Guest Expert Kent Capener of Capener Consulting
PAGE 2
To Serve Alcohol (or Not) to Your Market
Here's my two-cents' worth when it comes to serving alcohol: Don't serve alcohol unless .....Why?
Legal troubles. Insurance costs. Market segmentation.
How many "kids" in the student population can legally consume alcoholic beverages in your community? If the drinking age is 21 in your state, you automatically eliminate a large juicy bit of that market before you even open your doors. And if you happen to be thinking that college kids will be college kids, they will! Complete with fake IDs and first-time drunks. This is where the law comes in. If your state has a "dram" law, then you can count on very high insurance rates and legal bills. So unless your talents also include incredible patience and a fondness for attorneys and their bills, you stand a much better chance of success of not serving alcohol a la nightclub.
The college market is truly a niche market. One factor that nicheifies it is that while college students have the lowest average income by population, they have one of the higher percentages of disposable income. This is why you see fast food franchises on campus - and even in the dormitories. In some cases, they've replaced the "grabateria" concept altogether. Not be outmaneuvered in this market, the credit card companies allocate a significant percentage of their marketing efforts towards college students.
So that leaves your restaurant idea. How can you market to students and others in your community? continued
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