Lenders continue to show interest in funding a liquor store purchase. The liquor store industry, which is relatively pandemic-proof, stands out, even to the choosiest of lenders.
GRP Capital was very happy to close this liquor store purchase in Georgia. We knew the property well, having helped the seller, when he purchased this business several years ago. The seller was now ready to move on to other projects. We worked with both the seller and the buyers, our newest clients, to facilitate a smooth transition towards ownership. In addition, we collaborated with all of the parties to secure appropriate funding.
GRP Capital President Rick Patel noted, “We have a deep understanding of this business. As a result, I feel confident that the store is in good shape to continue to bring profits to the newest owner. I am personally proud that we have developed a history and reputation so that buyers, when they sell, recommend our services. We really loved getting to know the new buyers and consider them valued clients now, too.”
Why is a Liquor Store Purchase A Great Opportunity?
• Pandemic-proof: One thing we have learned is that we don’t know what curveball is coming next with COVID-19. Liquor stores however, seem to be relatively pandemic-proof. When bar and restaurant traffic diminishes, liquor stores’ sales remain constant and may even increase. A successful liquor store should continue to be profitable, even if case numbers periodically increase.
• Adaptable: Liquor stores have built in systems for security that can be used to restrict touching of merchandise. A skilled manager can capitalize on liquor store offerings. Perhaps the store can expand into packaged treats, gift baskets or other items that are not easily available.
• No Price Wars: Many local and state governments regulate liquor stores, forbidding discounts. This preserves minimum price structures. As a result, a successful liquor store thrives because of its inventory and its service, not by trying to beat their competitors’ prices.
Our GRP Capital team specializes in finding the right lender for each project. We save our clients time and money, as we research the best choices for their funding sources. Our experience allows our clients to find funding that is project-appropriate and will allow for sufficient cash flow. If you are considering becoming a first-time (or second or third time!) buyer, we can assist you.
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