Business Acquisitions - Liquor Stores
Number of Customer Reviews for Liquor Stores: 0
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Liquor stores specialize in the sale of alcoholic beverages. Normally, different states impose different statutes restricting sale of liquor from specific outlets. Some states like Massachusetts, Florida, or New York specify that sale of hard liquor can only be through specific liquor stores. Supermarkets or other convenience stores can sell alcoholic beverages with a lesser percentage of alcohol, mainly for cooking or other medicinal purposes. Hence, liquor stores have a separate and distinct existence.
If you are on the lookout for any ideal business venture, you could try for a business acquisition. Ideally, buy an established business with an existing client base and good earnings. These serve as a source of immediate income besides approaching financial institutions and banks for further financial assistance. Although such institutions may be wary of lending cash to a total newcomer, they could do depending on the existing goodwill of the company.
If you are planning to buy any existing liquor store, follow certain steps to get the best deal. You need to study various details of the liquor store before going ahead with your offer. Such details include a breakdown of all expenses of the property in question with copies of all tax returns and leases of the store.
A through picture of the financial statements for the last three years with details of present creditors and debtors can open the financial position of the liquor store. Inventory listing is also essential for you to study and understand how much you can gain from such an acquisition. Rather, they should be adequate provisions for you to progress after acquiring the liquor store.
Evaluate all available information to arrive at a true value of the liquor store and business property. Property valuation is simpler and easier to procure finance from financing authorities. Alternatively, you can procure a new liquor license to start your liquor store in your acquired location. Ideally, evaluate liquor business according to discounted cash flow valuation. You can also take help of professionals to help with the valuation and acquisition.
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