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Started By
Message
Anybody have experience with owning a liquor store?
Posted on 11/11/17 at 4:42 pm
Posted on 11/11/17 at 4:42 pm
I'm considering buying one. Liquor store on one side and a neighborhood mom and pop store on the other. Does good business.
Liquor licenses are limited in number here in good ol Arkansas...just wondering if anyone can tell me about some negatives or positives associated with owning this type of business.
Liquor licenses are limited in number here in good ol Arkansas...just wondering if anyone can tell me about some negatives or positives associated with owning this type of business.
9
Posted on 11/11/17 at 6:37 pm to arkiebrian
Well I’m no expert but I’d assume dealing with the riff raff of the dregs of society has to be a big negative.
Posted on 11/11/17 at 7:07 pm to arkiebrian
Get ready to pay a fine for selling alcohol to minors. ABC board sends teens in stores to see if you will sell it to them.
Posted on 11/11/17 at 7:07 pm to arkiebrian
quote:I don't have any experience with heathens that consume this, much less selling it to them.
Liquor
Posted on 11/11/17 at 7:28 pm to arkiebrian
In my limited experience, you'll have a ton of overhead on the shelves. If it moves well and you have some fun stuff that people will go to you to get, you can be successful. If it already does good business and you are very diligent with your bookkeeping, go for it. If it's just a side project for you and you don't want to put in the time, you'll have a tough road ahead.
Posted on 11/11/17 at 7:33 pm to LSU999
quote:
Get ready to pay a fine for selling alcohol to minors. ABC board sends teens in stores to see if you will sell it to them.
Protecting and serving, one fine at a time
Posted on 11/11/17 at 9:37 pm to LSU999
I did this job in high school. It’s amazing how many stores just let you buy tobacco and alcohol with no ID check.
Posted on 11/11/17 at 10:04 pm to arkiebrian
The real money is selling one cig and one beer at a time!
Posted on 11/11/17 at 10:42 pm to arkiebrian
What do their books say? One where I live close to a very large trailer park always has people walking back-and-forth. It was for sale a while, and I think that It grossed over 1 million and net 300,000. It was for sale for 120k I can't remember. You were really just buying the name, there was very little equipment, some racks, refrigerators, and some inventory.
This post was edited on 11/12/17 at 7:48 am
Posted on 11/12/17 at 3:13 pm to Rust Cohle
quote:Doesn't add up.
I think that It grossed over 1 million and net 300,000. It was for sale for 120k
Posted on 11/12/17 at 3:14 pm to Jimmy2shoes
quote:
The real money is selling one cig and one beer at a time!
It is that sort of place...lots of single beers sold.
Posted on 11/12/17 at 3:16 pm to Rust Cohle
quote:
What do their books say? One where I live close to a very large trailer park always has people walking back-and-forth. It was for sale a while, and I think that It grossed over 1 million and net 300,000. It was for sale for 120k I can't remember. You were really just buying the name, there was very little equipment, some racks, refrigerators, and some inventory.
Wow that seems like a great price to me?
I haven't gotten as far as checking the finances yet. I just know the owner would be interested with the right offer as they're looking to retire but isn't openly advertising it for sale. I'm guessing the cost is around $400k.
Posted on 11/12/17 at 3:19 pm to Monday
quote:
In my limited experience, you'll have a ton of overhead on the shelves. If it moves well and you have some fun stuff that people will go to you to get, you can be successful. If it already does good business and you are very diligent with your bookkeeping, go for it. If it's just a side project for you and you don't want to put in the time, you'll have a tough road ahead.
I'm looking to quit my job and quit "working for the man" and do this full time and work for myself.
Posted on 11/12/17 at 5:01 pm to arkiebrian
I had it backwards, Gross was over 1 million, net was 120, and asking was 300,000. It was for sale awhile, not sure if it ever changed hands. I was interested in gas stations, and found that you can often by a gas station for $60-$100,000 that also nets the same the first year, with gross over 1 million. Seems really cheap, when most businesses evaluate for 10 times earnings right?
The broker told me that it is not passive at all, and that you have to run it yourself, for 60 to 80 hours a week. If you hire someone else they will just steal from you.
So I made it a point when I went into a gas station, usually to buy beer, I would ask the cashier if they ever see the owner, boy did I get some strange looks, but they always said no. These were nicer larger gas stations like Cracker Barrel, not a hole in the wall corner store.
The broker told me that it is not passive at all, and that you have to run it yourself, for 60 to 80 hours a week. If you hire someone else they will just steal from you.
So I made it a point when I went into a gas station, usually to buy beer, I would ask the cashier if they ever see the owner, boy did I get some strange looks, but they always said no. These were nicer larger gas stations like Cracker Barrel, not a hole in the wall corner store.
This post was edited on 11/12/17 at 5:04 pm
Posted on 11/12/17 at 5:08 pm to Rust Cohle
quote:
I was interested in gas stations, and found that you can often by a gas station for $60-$100,000 that also nets the same the first year, with gross over 1 million. Seems really cheap, when most businesses evaluate for 10 times earnings right?
This sounds like a good idea too I may also look into that also. I would definitely work there myself. I'm not aware of any for sale around here though.
Posted on 11/12/17 at 6:59 pm to arkiebrian
Posted on 11/12/17 at 7:53 pm to Rust Cohle
Thanks!
Posted on 11/12/17 at 7:57 pm to Rust Cohle
quote:
These were nicer larger gas stations like Cracker Barrel
Wat?
Posted on 11/13/17 at 4:07 pm to arkiebrian
I wouldn't go into the liquor business myself although store is better than the bar owner business.
for me it's the people. everyone thinks back to college and buying booze or whatever and you have some of that but overwhelmingly you just watch people destroy themselves everyday with their addictions and put up with their antics to get alcohol.
I found the liquor business to be very depressing at Times but lots of fun at other times
for me it's the people. everyone thinks back to college and buying booze or whatever and you have some of that but overwhelmingly you just watch people destroy themselves everyday with their addictions and put up with their antics to get alcohol.
I found the liquor business to be very depressing at Times but lots of fun at other times
Posted on 11/14/17 at 6:03 am to arkiebrian
Go ahead and buy some body armor, you are going to get robbed and shot.
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