Selling alcoholic beverages online has the potential to provide you with high profits. However, when you accept online payments in this sector, there are important considerations to keep in mind. 

As long as you do, you can be well on your way to launching a successful company.

Establish your payment mechanisms.

Perhaps the most important and fundamental element of your subscription alcohol business involves the infrastructure you build to accept recurring payments. 

Realize that you will need to partner with a high-risk merchant provider who can furnish you with the merchant account, hardware, software, customer support, and industry expertise that are essential to fostering your success in this sector.

If you are new to this industry, it is important to understand that all online alcohol sellers are automatically placed in the “high-risk business” category. This is due to the extremely regulated nature of the industry, the volatile commercial conditions, and the higher-than-average likelihood of security breaches and chargebacks. 

As a high-risk seller, you can expect to pay higher fees and undergo additional scrutiny during the application process. You may also be required to adhere to extra-contractual obligations. 

But in exchange for these restrictions, you can partner with a company with expertise in payment processing for the alcohol industry as well as dedicated customer support.

Come up with an idea.

Your next job is to arrive at a subscription concept that meshes with the customer base you are targeting. 

Conduct a competitive analysis to understand the market you are entering, and create different subscription box options that will appeal to various segments of your customer base.

Determine your prices.

The key here is to arrive at the costs you plan to charge. Too low, and you won’t make a profit; too high, and you will price yourself right out of the market. This is where research can be invaluable. 

Remember that in addition to the beverages themselves, you need to figure in the price of packing materials, postage and mailing labels, payment processing fees and charges, mailing fees, and marketing costs.

Create a prototype box.

This collection should contain products similar in quantity, quality, and value to what you plan to send in your first box. 

The prototype can be used to make an image library that you can post on your various advertising channels, enabling you to gauge customer interest and tweak your offerings if necessary.

Get your store ready to accept orders.

When you run this type of business, you need the infrastructure that is built to take subscription payments. Choose an ecommerce platform that seamlessly integrates with your payment processor, and then create your marketplace listing. 

Be sure that the website customers click on loads quickly, is easy to navigate, and contains clear and compelling product descriptions and images. 

Additionally, take pains to ensure that all subscription, shipping, and return policies are set forth prominently and with perfect transparency.

Connect your payment processor.

Next, you will need to link your payment processor with your website. Remember that your prices should take transaction fees and other costs into consideration.

Get ready to launch.

After determining the contents of your boxes, coming up with a pricing structure, and testing out your prototype box, the time has come to start taking real orders in preparation for launch day.

At this stage, it’s time to notify customers when their first ship date will be while continuing to attract new patrons with last-minute promotions and sneak-peaks. If you are billing well in advance of the first delivery, let your customers know exactly what to expect, including when their first box delivery is estimated to arrive.

Analyze your preliminary results.

Now that the first shipment has gone out, sit back and take stock of your success. Evaluate what is working and where challenges lie, including in your customer profiles, fulfillment process, vendors, and customer feedback. 

Analyze your recurring billing process to ensure that there are no glitches, and that both you and your customers are happy with the system. To take the temperature of your subscribers, send out a survey. 

Then read the feedback, implement any suggestions that could enhance your success and satisfaction rates.

Once your subscription alcohol business has gotten off the ground, your ongoing task is to keep analyzing data to ensure that current subscribers are happy and engaged, while simultaneously working to bring new clients into the fold. 

One highly effective strategy to accomplish this involves rewarding current subscribers for referring new ones.

As you move forward, the sky can be the limit for your subscription alcohol business. You might choose to focus on gaining new subscribers, or you could spend your time diversifying your offerings. 

Whatever direction you choose, never lose sight of the importance of keeping your subscribers involved and satisfied with your company. As long as this happens, you will gain passionate ambassadors who organically spread the word about your brand to their friends and social contacts.