When Oddbins left Ireland in May 2011, the former manager of its Baggot Street branch and three colleagues decided to open up their own independent off-licence on the same premises. Baggot Street Wines, which opened in July 2011, now employs seven people.
What distinguishes your business from competitors? We're determined to go beyond what the supermarkets and off-licence chains offer by concentrating on great craft beers and some fantastic family-owned boutique wines and spirits. We currently stock over 450 beers, 120 of which are Irish. We also have 650 different wines and about 200 spirits, including a large range of Irish whiskeys.
As this is our passion, we are prepared to spend a lot of time recommending different drinks to customers. We also like to give personal recommendations based on the kind of wines and beers we ourselves enjoy and I think this is appreciated.
What has been the biggest challenge you have had to face? The biggest challenge was in getting the shop up and running and trying to get back the customers Oddbins had lost over the preceding year or two when it was going through administration. A significant number of customers left and it was a key priority of ours to get them back into the shop. To do this, we had to get the message out that we were back in business as an independently-owned store with great wines and beers, but with the same familiar faces that people were used to.
In recent times, the biggest challenge is dealing with continually increasing utility bills and rates.
What is the biggest mistake you've made in business? I would say the biggest mistake was not launching a full ecommerce website from day one. It was something we put in our medium to long-term plans, but it got pushed out a number of times. Thankfully, we're about to rectify that with the new site going live by mid-July at the latest.
What was the best piece of business advice you've ever received? My father was in the grocery catering wholesale business for between 30 and 40 years, and his attitude was you should always treat the customer as your number one priority and provide the best service you can along with good quality products. That has certainly inspired me and is something I try to encourage the staff here to believe in as well.
And your major success to date? If I was to pinpoint a particular success, I'd say that winning the Beer Specialist of the Year award at the National Off-Licence of the Year awards in both 2013 and 2014 can't be beaten. When we first entered in 2013, we did it to see where we were compared to the rest of the industry and for us to take the award and then retain it a year later was a huge achievement.
Who do you most admire in business and why? I admire my father for what he achieved. He was a superb business role model. Outside of him, I respect anyone that is willing to open up a shop in what are still tough economic times.
What piece of advice would you give to the Government to stimulate the economy? I would say let businesses get on with running their business without having to constantly worry about rising day-to-day running costs. Our rates have gone up 120 per cent in 18 months and it's a struggle to break even with such costs increasing so often. If the Government wants to encourage more local businesses, then it really needs to look at the impact of rates.
Do you think the banks are open for business at the moment? I think if you have a good quality business plan then the banks will listen. My personal experience has been very positive. We went to Ulster Bank to talk about opening up the shop and they were more than happy to help us get started.
How do you see the short-term future for your business? Obviously, we've the new website going live shortly and are launching a full ecommerce loyalty card that customers will be able to use both online and in the shop. We are also looking at other areas of expansion, including possibly opening up a wine bar in the basement.
In five years time, we’d very much like to have a second or third shop open and to perhaps have taken further steps into the craft beer industry.
I didn’t open up the business for the short term so we’re looking ahead all the time. I’d love to sit back in 40 years’ time and see my children running the business, so I’m hoping we’ll continue to grow.
What is your business worth and would you sell it? I look at the business and see that we're able to employ seven people and are looking to have between 10 to 15 staff within two to three years and think that's worth a lot. The shop is a passion for all of us and while every day brings a new challenge I really look forward to going into work so I wouldn't dream of selling it.
In conversation with Charlie Taylor
