If you count the number of liquor stores
lining Dallas streets, you might come to
the conclusion the liquor business is
recession proof.
In fact, that's a tack taken in one
advertisement placed in The Wall Street
Journal this month.
But how safe and or recession proof is
the sale of liquor only?
Fair to middling, according to Sidney
Siegel, who's been in the business for
five years.
But Siegel does concede it's a steady,
stable business.
No, I don't think it's recession proof,
but I don't think it's subject to the
extreme changes of
commanders, increases in business and
also the decline
of other businesses.
While inflation has made itself felt on
the market, with prices going up about
10 percent, the local market has
continued to grow two to four
percent in each of the past three to four
years. Part of that growth has been
in wine sales, Zagel told
me. America's turn to wine has been a
boon for the liquor store business.
But wine merchant Red Coleman said wine
buying is cutting into liquor store
profits.
Neither Coleman nor Siegel would say a
move into the liquor industry would be a
safe bet for security.
But as Coleman pointed out to me, during
a recession, when people aren't buying
cars and houses and major appliances,
they do have a few bucks left over for a
six pack and just one liquor store
salesman tossed out.
People will buy liquor before they'll pay
their bills.
Smith Channel 5 Action News delves.