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re: Liquor store- good investment?
Posted on 7/10/23 at 12:53 pm to Rendevoustavern
Posted on 7/10/23 at 12:53 pm to Rendevoustavern
quote:
So the business breaks even give or take and the owner pays themself 50k? Did you miss a zero? That is a terrible idea given you have to be open 6 days a week and 8-10 hours.
Assuming the owner pays himself a salary, that would not be part of EBITDA. The EBITDA would be after salaries - including the owner's.
How much salary the owner is paying himself, or other family members, plus any other personal expenses ran through the business, is crucial to know to get an accurate picture.
1
Posted on 7/10/23 at 1:54 pm to Bjorn Cyborg
Cyborg is right
If $50k retained earning is in addition to
(I am just going to throw a number out there)
$80-100k salary you are drawing from the gross revenue then yea maybe it is a good deal.
Me personally I am not moving one step closer until I see bank statement of deposit proving the $900k and inversely all records of liabilities of over at least the past three fiscal years …maybe longer due to Covid.
If $50k retained earning is in addition to
(I am just going to throw a number out there)
$80-100k salary you are drawing from the gross revenue then yea maybe it is a good deal.
Me personally I am not moving one step closer until I see bank statement of deposit proving the $900k and inversely all records of liabilities of over at least the past three fiscal years …maybe longer due to Covid.
This post was edited on 7/10/23 at 1:58 pm
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