It is party time and most people will be celebrating in the coming days.
Keith Patel has partnered with his son Kevan to create a completely new boutique concept, Sarasota Wine Outlet — a large 5,000- square-foot store in Sarasota selling popular, closeout and clearance wines. The store is located at 7310 South Tamiami Trail across from Madison’s Forty-One restaurant and neighboring Culvers.
With a wide experience of the industry, Keith Patel owns and operates Sarasota Wine and Spirits at 4295 S. Tamiami Trail in Venice and 4055 Cattleman Road in Sarasota.
Both are superstores offering full service with liquors, wines, cigars and more.
Monitoring sales in those stores he identified three things customers looked for in categories:
• Popular wines which have the ratings and are found in most food stores being the staple of their business
• Closeout wines, sometimes having a 2-year-old vintage; most food stores prefer the newer vintage
• Clearance wines, similar to the unsold ‘scratch and dent’ items in other industries.
Following a discussion his son Kevan proposed a new project encompassing all three categories in bulk in an outlet store. Together they assembled the inventory and then put together a marketing plan as customers needed to know what they should purchase.
Everyone appreciates the value of discounted popular wines, but is unaware of closeout wines. They are large quantities of unsold brands not doing good in this area and the overstocks of distributors. The Patels negotiate bulk buying arrangements, bringing that savings into their outlet store.
Bargain hunters appreciate the third category of clearance wines, usually small quantities and single bottles with damaged labels again from all the distributors in the area.
Just two weeks ago Keith Patel said there was a clearance bottle priced at $100 on sale for $10 that had come in mixed bottles cases. If the damage is really bad and the labels are almost gone, they mark them really low.
Normally closeout and clearance wines are not sold at super and food stores, except for their own damages which sellout because they are around a third of the price.
Patel admitted every time they are stocking, some cases are dropped then labels are stained or the tops may be damaged.
Kevan Patel is a business major at Florida State University and micromanages sales in his vision as his father manages the new Sarasota Wine Outlet. This concept is exclusive, unique and it is the first and only wine outlet store in Sarasota and Manatee counties, believes Keith Patel.
Their outlet has been carefully designed to assist purchasers.
It is divided into 2/3 popular and closeout wines and 1/3 clearance wines. An opening offer coupon in advertisements gives an additional reduction to the special prices throughout.
Wines are displayed together in different types among the popular and closeout sections.
Closeout, scratch and dent, come and go and are all mixed, and there is not a consistent inventory, so it pays to stop in regularly to find bargains on new and old favorites.
This concept helps keep the expenses to a minimum, stated Patel.
The store is new and throughout the holidays there will be free giveaways and wine tasting on Fridays and Saturdays between 1 p.m. and 6 p.m. They offer wine advice and will also take purchases to the buyer’s car.
Sarasota Wine Outlet is open from 9 a.m. to 7 p.m. Monday through Saturday. For more information, call 941-922-0050.