Sales are going so smoothly at Indian Trail’s ABC Store that a second location is under development across the street from Sun Valley Commons.
The N.C. ABC Commission approved Indian Trail’s second store in April. The Indian Trail ABC Board said at that time that it had just signed a five-year lease for its first location at 5880 U.S. 74 E.
The town council agreed Sept. 22 to establish a capital investment reserve fund for acquisition, development and construction costs of no more than $250,000 for the new store. The funding came from a surplus at its existing store.
Attorney Wesley Hinson, speaking on behalf of the Indian Trail ABC Board, told the town council last month that once the loans are paid off, the new store at 6400 Old Monroe Road will generate upwards of $750,000 to $1 million annually.
“There’s been a lot of businesses that have suffered but one of those that has not is alcohol sales,” Hinson said of the COVID-19 pandemic. “I feel like once COVID is over and we all have to go back to physical work, there’s going to be a lot of people buying vodka for mid-day breaks. Because I think alcohol sales in our store are up 150% year to date.”
The new 7,550-square-foot store is expected to open by the end of the second quarter of 2021. It would give Indian Trail a store on each side of the U.S. 74 split.
The Indian Trail store generated $4.56 million in gross sales and $1 million in state tax revenue, according to the North Carolina ABC Commission’s 2019 annual report. The town received a local contribution of $403,000.
Since then, Hinson said Indian Trail has overtaken Monroe as Union County’s most popular ABC Store. He told the council that alcohol sales are seasonal with 35% of sales generated in November and December.
“The timing of this couldn’t be better,” he said. “Not only do we have record sales to produce this surplus of funds, which gives us the equity piece we need to move forward with the store, we’re also in a period of what’s the lowest interest rates for loans that we’ve ever seen at least in my lifetime. It’s an amazing opportunity.”
Union County’s ABC stores 2019 gross sales
Here’s a breakdown of gross sales of Union County’s five ABC Stores for the 2019 fiscal year (July to June).
• Monroe – $5,066,340
• Indian Trail – $4,559,631
• Waxhaw – $3,814,516
• Wingate – $1,497,238
• Marshville – $458,727
Source: N.C. ABC Commission 2019 annual report