Bourbon Street Wine and Spirits, a prominent chain in northwest New Jersey boasting nine locations, emerged from a shared frustration 26 years ago. This journey began with siblings Michael Wade and Cheverly Wade-Richardson, co-founders who transformed a simple idea into a thriving business deeply rooted in understanding customer needs and market trends in the Bourbon Street Liquors and broader beverage alcohol sector.
Michael, fresh from passing the bar exam in both New Jersey and New York in his mid-20s, encountered the harsh reality of a challenging job market. Contemplating alternative paths, his attention was drawn to a local liquor store in their hometown of Califon, a small rural community. This store advertised operating hours until 9 p.m., yet on one particular evening, Michael found its doors locked prematurely. Despite his attempts to gain entry, the staff inside refused, even though it was before the stated closing time.
This frustrating experience sparked an entrepreneurial idea. Michael discovered a liquor license available for a 2,000-square foot space across the street. He proposed to his sister, Cheverly, that they seize this opportunity to establish a superior beverage alcohol retail business. Their vision was to create a store that prioritized customer service and reliability, directly addressing the shortcomings he had just experienced.
“And that’s exactly what we did,” Cheverly recalls. “I was managing a Gap store when Michael approached me about partnering in this venture. He was 26, and I was 28, a mother of two. He was living at home, and I was living in a trailer.” Drawing inspiration from their parents, both entrepreneurs themselves, they decided to take the leap.
Their initial move upon opening Bourbon Street Wine and Spirits was simple yet impactful: they extended their operating hours an hour later than their competitor across the street. However, the economic realities of a rural location soon became apparent, even with a 10 p.m. closing time.
“We quickly realized that we would need practically everyone in town to visit our store twice daily just to make it viable,” Michael explains. “We knew then that growth had to come from expansion into areas with larger populations.”
Brother and sister Cofounders Michael Wade and Cheverly Wade-Richardson at Bourbon Street Wine and Spirits, highlighting their roles in the New Jersey beverage retail business
Strategic Evolution and Expansion of Bourbon Street Liquors
Venturing into business with limited experience and significant debt was a considerable gamble for the Wade siblings. Fortunately, the 1990s presented an opportune moment to revolutionize the beverage alcohol retail landscape, particularly for stores stocking bourbon street liquors and fine wines.
“A bit of luck is almost essential for any business success,” Michael acknowledges. “Back in the ‘90s, most liquor stores were smaller operations, often characterized by a stereotypical older owner with a cigar behind the counter. Many still carried adult magazines.”
The industry was on the cusp of transformation. The burgeoning fine wine movement in America was poised to introduce a completely new archetype of beverage alcohol retailer. This new model emphasized premium product selections, meticulously clean store environments, and outstanding customer service experiences, moving away from the traditional image of liquor stores.
“From our inception, we prioritized creating stores that were clean and welcoming for families,” Cheverly states. “We wanted a space where parents would feel comfortable bringing their children. We even kept lollipops available for kids.” This family-friendly approach extended to their selection of bourbon street liquors and other offerings, ensuring a broad appeal.
“In a way, we inadvertently became part of this new wave of liquor stores,” her brother adds. “The emphasis on cleanliness alone set us apart from many existing establishments.” This commitment to a pleasant shopping environment became a key differentiator for Bourbon Street Liquors.
While initially contemplating a modest expansion to just two locations, the siblings recalled the critical lesson learned from their initial competitor: the importance of protecting one’s market territory. As they explored license availability in more densely populated areas of New Jersey, they discovered another license for sale within their own town. To preempt potential encroachment from larger competitors, Michael and Cheverly further increased their debt to acquire this strategically important “pocket license.”
Their expansion didn’t stop there. Securing yet another license in a more populous zip code rapidly expanded their portfolio from a single store to three within the first six months. This aggressive acquisition strategy became a cornerstone of their growth, particularly in the competitive bourbon street liquors market.
“We realized this rapid expansion was the right strategy. We knew we could make it work by tightening our belts,” Michael explains. “We understood that in the long term, this was the correct path. That’s how licenses four and five materialized. We decided, ‘Let’s keep more competitors out of our market. Let’s establish a strong homefield advantage in our area.’”
Their “homefield” became a significant stretch of Northwestern New Jersey, primarily along the I-78 corridor. This region, while containing rural areas, also encompasses some of the wealthiest communities in the state. Moreover, I-78 provides direct access to Manhattan, just an hour and a half away, broadening their potential customer base.
Several Bourbon Street locations are also strategically situated near the Pennsylvania border. Residents from Pennsylvania, where alcohol retail operates under a control model, frequently cross state lines to shop at New Jersey’s private businesses like Bourbon Street, seeking greater selection and convenience in bourbon street liquors and other beverages.
The result is a customer demographic that might be smaller in sheer numbers in some locations but possesses considerable purchasing power and a thirst for discovery. This customer base is particularly drawn to high-quality bourbon street liquors and unique beverage offerings.
“As the fine wine movement gained momentum here, people developed a desire to learn more,” Michael observes. “When craft beer became exciting, that became a major focus. With every emerging trend, even if it arrived slightly later than in other parts of the country, we embraced it fully. We knew we needed to be ahead of the curve for our customers because that’s what they expected.”
“From day one, we understood the necessity of stocking ‘cool’ and interesting items,” his sister adds. “Even if some products don’t sell quickly, customers appreciate seeing them. They enjoy recognizing and discussing unique or high-end items, knowing they can find them at Bourbon Street. And when they are ready to purchase that premium bottle of bourbon street liquors or rare wine, they know exactly where to come.”
Consequently, Bourbon Street stores are known for carrying an array of distinctive and sought-after products, including premium bourbon street liquors and specialty wines.
“My sister, who oversees most of our purchasing, has always maintained the philosophy: ‘If we don’t have it in the store, we can’t sell it’,” Michael notes. This proactive approach to inventory ensures that Bourbon Street remains a destination for customers seeking both popular and hard-to-find bourbon street liquors and other beverages.
Refining the Bourbon Street Liquors Retail Model for Success
Visiting multiple Bourbon Street locations reveals a consistent store design, a deliberate strategy to replicate successful elements across all sites. This uniformity extends to their approach to bourbon street liquors merchandising and store layout.
Notably, five Bourbon Street locations are strategically positioned adjacent to restaurants with a BYOB (Bring Your Own Bottle) policy. This is no coincidence; Michael and Cheverly intentionally act as landlords for these restaurants.
“From the beginning, we had the foresight to own our properties,” Michael explains. “We observed many businesses struggling simply to cover rent. We decided to further tighten our belts and prioritize purchasing and developing the properties ourselves.” This real estate strategy is integral to their overall business model, enhancing the profitability of their bourbon street liquors retail operations.
“This approach allowed us to construct aesthetically pleasing buildings,” Cheverly adds. “We wanted to ensure the buildings were attractive and inviting, making customers feel comfortable entering. We also prioritized ample and convenient parking at each location.” These design elements contribute to a positive customer experience, crucial for repeat business in the competitive bourbon street liquors market.
Furthermore, the synergy with adjacent restaurants maximizes operational efficiencies.
“The BYOB restaurant concept creates a perfect synergy,” Michael emphasizes. “Customers can purchase a high-quality bottle of wine or bourbon street liquors for $30 or $40 and enjoy it next door with a fine dinner. This offers significantly better value than paying $100 or $150 for the same wine at a restaurant with its own liquor license. This arrangement also adds approximately $100,000 in additional annual sales to each attached store.”
“Frankly, who wants to pay $20 for a Grey Goose martini? It’s absurd,” he adds. “BYOB is a much more appealing and customer-friendly option. If Cheverly and I feel this way, it’s a strong indication that our customers feel the same way too.” This customer-centric approach extends to their pricing and selection of bourbon street liquors.
Michael and his sister strive for a uniform store layout across all Bourbon Street locations. Wine occupies half of the sales floor, with liquor, including a significant selection of bourbon street liquors, positioned in the middle, and beer displayed along the far-right wall. This consistent layout has proven effective for Bourbon Street.
“When you visit a chain store like Walmart, you generally know the store layout regardless of location,” Michael points out. “We aimed for the same consistency in our stores. We reasoned that if we were to expand with new locations, we should replicate what was already successful in our existing stores.” This standardized approach ensures a familiar and comfortable shopping experience for customers seeking bourbon street liquors and other beverages at any Bourbon Street location.
“We were novices at the start, but we learned and adapted,” he continues. “We made mistakes along the way, but fortunately, no catastrophic ones. We did many things right, whether intentionally or by chance.” This adaptability and willingness to learn have been key to their sustained success in the bourbon street liquors and broader beverage retail market.
Consistent staff training is another hallmark of the Bourbon Street chain.
“Friendliness and a smile are paramount,” Michael states. “If an employee doesn’t know the answer to a customer’s question, they are trained to say, ‘Let me find someone who can assist you.’ Even new employees are expected to be welcoming and helpful.” This focus on customer service enhances the shopping experience for those seeking bourbon street liquors and other beverages.
Michael and Cheverly routinely send employees to industry tastings, including events in Manhattan. These events provide valuable product knowledge and keep staff informed about the latest trends in bourbon street liquors and the wider beverage industry.
“Skurnik Wines recently hosted a tasting, and we sent several employees,” Michael mentions. “Our key wine personnel attended along with some of our newer staff members who are eager to learn.” This investment in employee training ensures that Bourbon Street staff are knowledgeable and passionate about the products they sell, including bourbon street liquors.
“We aim to have dedicated wine, beer, and spirits specialists at each store,” he adds. “These specialists are responsible for sharing their passion and knowledge with other team members, ensuring that customer inquiries aren’t solely directed to the specialist. This fosters a better shopping experience for our customers.” This team-based approach to customer service is particularly beneficial for customers seeking guidance on bourbon street liquors selections.
To cultivate a positive working environment, Michael and Cheverly prioritize camaraderie and a positive attitude, starting with their own leadership.
“Before starting this business, we both held numerous jobs, and we drew lessons from each experience, from each of our past employers and how we appreciated being treated as employees,” Michael reflects. “This informs how we treat our own employees. We avoid simply telling employees what to do; we always explain the reasoning behind tasks, such as why a display needs to be relocated.”
“We would never ask an employee to do anything we wouldn’t do ourselves,” Cheverly emphasizes. “I recall when we acquired a new store, Michael was so appalled by the condition of the bathroom floor that he cleaned it himself. He said, ‘It’s too unpleasant to ask anyone else to do it. That responsibility falls on us.’ And we still clean bathrooms ourselves when necessary.” This hands-on leadership and commitment to shared responsibility foster a strong team environment within Bourbon Street Liquors.
Cheverly Wade-Richardson assisting a customer at Bourbon Street Wine and Spirits, demonstrating their commitment to customer service and expertise in bourbon street liquors
Current Trends in Bourbon Street Liquors and the Beverage Market
With extensive experience and numerous stores, Michael and Cheverly offer valuable insights into current key trends in the beverage alcohol industry, including shifts in consumer preferences for bourbon street liquors and other categories.
“Hard seltzers emerged unexpectedly and rapidly dominated the market,” Cheverly observes. This trend has significantly impacted the bourbon street liquors market and the broader beverage landscape.
Is hard seltzer a lasting trend or a fleeting fad, similar to previous surges in hard soda or cider? “The sheer volume of hard seltzer brands currently available suggests that not all will survive,” Cheverly predicts. “However, consumer preference will determine the winners, and those successful brands will endure.” This market evolution affects shelf space and consumer choices across all beverage categories, including bourbon street liquors.
What factors drive the hard seltzer boom? “Ease of consumption is a major factor,” Cheverly believes. “The Covid pandemic further amplified this trend. Customers preferred quick in-and-out shopping experiences, opting for convenient and familiar choices.” This shift towards convenience has implications for how bourbon street liquors and other beverages are marketed and sold.
Michael highlights the lower calorie content of most hard seltzers as another key driver.
“Many consumers are seeking healthier alcohol options,” he notes. “Many hard seltzers contain only around 100 calories, comparable to a light beer.” This health-conscious trend is influencing consumer choices across the beverage spectrum, including within the bourbon street liquors category.
The impact of hard seltzers has been widespread across other beverage categories.
“Hard seltzer has drawn market share from virtually every other category,” Cheverly explains. “Wine, beer, whiskey – hard seltzer has cut into all of them.” This competitive pressure necessitates that retailers like Bourbon Street Wine and Spirits adapt their strategies for bourbon street liquors and other traditional categories.
“Hard seltzer has impacted every other category more significantly than any other product I’ve witnessed,” Michael adds. “Its broad appeal, spanning demographics from age 21 and up, contributes to its widespread impact.” This broad appeal requires retailers to carefully manage their inventory and marketing efforts for bourbon street liquors and other categories in light of the hard seltzer phenomenon.
Beyond hard seltzers, tequila remains a strong trend in the spirits market.
“Tequila is experiencing substantial growth currently,” Michael notes. “This growth is particularly pronounced in premium tequila offerings.” This trend mirrors the broader premiumization trend within the bourbon street liquors and spirits market.
“Similar to hard seltzer, tequila is currently a popular choice across the board,” his sister adds. “And as Michael mentioned, high-end tequilas are driving the strongest sales. A diverse range of customers are now purchasing $150 tequilas.” This premiumization trend is a significant factor in the current bourbon street liquors and spirits market.
American whiskey, particularly bourbon street liquors, continues to experience robust growth. Bourbon Street has capitalized on this trend by offering customers a wide selection of store-pick single barrel bourbons, catering to the increasing demand for premium and unique bourbon street liquors.
For seasoned retailers like Michael and Cheverly, the key to success remains understanding evolving consumer preferences and ensuring their stores stock a diverse range of both popular and unique products, supported by friendly and knowledgeable employees. This strategy is crucial for navigating the ever-changing landscape of the bourbon street liquors and beverage retail market.
“We are passionate about what we do and couldn’t achieve it without the dedication of our staff,” Cheverly concludes.
Her brother concurs, emphasizing their enduring passion for retail.
“We’ve been in business for 26 years, and we’ve strived for growth each year,” Michael says. “Our challenges today are different from when we operated a single store, vastly different. But our passion for growth remains constant. Initially, our goal was simply to attract one more customer each day. Now, our focus is on adding one more store. The scenario has evolved, but the underlying drive remains the same.”
