On 1 Sep 2014
Patrick wants to open a competitive wine bar,
The competitions you're talking about could be just one feature.
I think a wine bar that featured tasting sized pours of several excellent wines, but at not too much of a markup above a wholesale price, could be a successful place.
If it's combined with a wine store, you could do the bar as almost a loss leader in terms of pricing (still enough of a markup to cover overhead though). Sell the bottles of wines people have to have at closer to retail, but still a very fair price.
Probably tricky, because the key is getting really great wines at great prices, which probably requires amazing connections. You have to be good at buying them yourself, because all the big names that get great reviews aren't going to be available for good prices. Probably not available at all.
So you have to be able to identify and buy the good ones that haven't been so highly reviewed (yet).
I personally can't afford an expensive wine habit, but I could see splurging in a place like that every now and then.