View all current blog posts, discussions and podcast sessions by ProIntermediaries and ProAdvisors on BizBen.com that are associated
with selling and buying Liquor Stores small businesses throughout the USA. Thanks.
Knowing how to advertise a business for sale without revealing too much is an important skill for anyone who wants to find a buyer for a small or mid-sized California business at a good price. One caution about giving too much detail is that it might identify the company and ruin confidentiality.
Does Location matter when purchasing a liquor store for sale? Some experts believe that while it is still important, location is not AS important in the liquor store business as it is with other retail businesses. I think there is a case for both sides of the argument. Let's find out who is right.
The process for making a liquor license transfer used to take approximately 55-70 days, but now because of labor shortages and work protocols, it can be up to 3 months in California, for example. The longer an escrow is open, the greater the chance of having it fall out of escrow.
Buying a liquor store? First, ask yourself these three critical questions to find out if owning a liquor store is right for you. Questions like hands on vs absentee ownership, inventory turnover, licensing issues. Peter Siegel, MBA (BizBen ProBuy & ProSell Program Lead Advisor) explores this topic.
When on your search to buy liquor store businesses, consider additional ways that you may use the location to generate additional revenue streams. Peter Siegel, MBA with BizBen.com discusses buying California liquor stores.
When selling a California business, owners should use our salability checklist to determine whether the effort will be successful. Ten factors must be considered to properly prepare a business for sale. Three of the factors account for more than 50% probability of achieving success in selling!
Unlike many small businesses, due to strict regulations there are many steps that you must take before you can consider buying a liquor store. Peter Siegel with BizBen discusses the seven steps will put you on the right track to buy a liquor store legally.
A business buyer in the BizBen ProBuy Program asks how to handle the inventory amount in the purchase price of a business. Other questions answered in this article: Do you add the inventory value to the business value? Should the owner be expected to take back a note for the value of the inventory?
Lee Petsas, a Southern California business broker explores: How much consideration should I give as deposit? Are Deposits refundable and when? Cashing deposits & opening escrow, Return of deposit to buyer, Why do we take a deposit from buyers when preparing & executing a purchase agreement contract?
In dealing with business sales, often times the Seller or the Buyer will ask about the use of an escrow company. The seller may say, Why can't the buyer just pay me cash or give me a cashier's check? This blog post covers why utilizing an escrow service is so important in selling a small business.
Owners should keep the fact that they want to sell their small business confidential. Before releasing information to prospective buyers, buyers should commit to confidentiality in writing & should understand why it is important. Peter Siegel, MBA a ProBuy and ProSell Advisor with BizBen explains.
It might be the most tedious thing you do when buying or selling a small California business for sale, but conducting inventory - counting out the items that are sold or used in running the business is absolutely essential. Peter Siegel, MBA founder of BizBen.com discusses this topic.
Peter Siegel, MBA - BizBen.com & SBALoanAdvisors.com Founder discusses the difference between a hands on owner and an absentee owner. It covers why someone would want to be an absentee owner and then goes on to discuss the pros and cons of buying an absentee run small to mid-sized business.
If you are planning to offer your small business for sale, you ought to learn about your chances of succeeding. The probability of making a sale depends largely on which of seven seller types describes you. Use this self-test to find out what kind of seller you are and determine if you'll succeed.
Buying a liquor store can present some major challenges to business buyers - a recent client on the BizBen ProBuy Program relates to Peter Siegel, MBA what the major challenges may be when searching for and buying a Californa liquor store business. I welcome other Advisors to weigh in on this topic.
The only time to get an exact and accurate inventory count, and valuation, is at the time the business is being transferred. To do so beforehand, would mean that any merchandise sold after inventory is taken, but before close of escrow - Peter Siegel, MBA with BizBen & others discuss this topic.
Sometimes business brokers just can't win with their clients, because if an offer comes in too fast & too early then they must have lowballed the price & the seller is suspicious, and if not enough offers come in after putting the business on the market - they may look unproductive to their clients.
50% of all California small business for sale transactions fail to complete. Why do businesses for sale fall out of escrow? Joel Miller (a senior care business specialist) discusses his 5 top reason why businesses fall out escrow along with other brokers, advisors on this BizBen Discussion.
The owner selling the business doesn't have recent financial information or documentation but insists revenues are increasing. Should buyers believe the seller? What should buyers do in this situation? ProIntermediaries on BizBen answer the question of verifying seller / owner's financial claims.
Every business broker knows that a listing taken is not a listing sold, in fact the ratio of listed vs. sold could be discouraging if you really thought about it. Joe Ranieri (Orange County Business Broker) discusses what you should do if you finally have to close the doors and call it quits.
Being prepared when potential buyers contact you about your business for sale is a good idea. Too many sellers (and brokers) are unprepared & miss good opportunities or get involved with unqualified buyers. This Discussion post and answers from ProIntermediaries on BizBen assist with this issue.
Asking the seller straightforward questions and getting straightforward answers in return is an important part of the buying and due diligence process. In this Discussion, both ProIntermediaries and Advisors offer thorough questions you should be asking during your meeting with a business seller.
Can business buyers actually get full representation from a broker? With 70% of all California brokers not cooperating with each other it may be a good idea to have someone on your side representing your interests. Is buyer representation a reality? ProIntermediaries discuss this topic on BizBen.
Many business buyers complain to me about business intermediaries not getting any financial information about the business they may be interested in purchasing. There are multiple reasons for this but I agree that financial information should be readily be available to interested buyers upfront.
Valuing a small business is not guess work. It's not what some other businesses of the same type may have or may not have been sold for, it's not even what a business owner "feels" they want or deserve. It is a formula based on many factors. Peter Siegel, MBA from BizBen & others discuss this topic.
Yes, there are ways to find businesses with growth potential that can be purchased with modest investments. But before offering any ideas about finding cheap businesses, it's important to review some of the risks involved. Peter Siegel (BizBen ProBuy Program) discusses this topic with others.
It can take months, sometimes longer to sell a small business. Here are 6 questions plus other information from myself plus other BizBen Users to ask yourself to help you determine why your small to mid-sized California business isn't selling. You might be surprised what those reasons are!
There are a lot of misconceptions about what enhances the value of a business. The following factors in this Discussion are aspects of a business that really drives its value and pricing. A business owner asked me this question today so I wanted to get others view points as well in this Discussion.
