Free at last, Free at last

Customtinting · September 5, 2008

Today was finally the day!!!! Closed on another business we have owned for years and thank god !!!! Retail liquor store. In recent years profit margins have shrunk and the laws have become ridiculous. This is the last of the store we owned and now.......IT'S FRIGGIN GONE!!!!!! :beer The buyer psuhed us through the summer and lost the awesome sales we received. Thankfully I have a great attorney to deal with this bull. NOW WE ARE FREE....VACATION TIME!!!!!!!!!!!!! :bingo

September 5, 2008

I should buy a liquor store. I bet it's cheaper than buying it a bottle at a time.

Congrats.

Customtinting · September 8, 2008

Unfortunately, the industry standard average prifit margin (after liquor bills, before other bills, rent, utlities, etc) is about 22%. That means, to make $60K, before taxes, you need to do almost $400k in sales. The uncle sam and the state get theirs. Hours suck (by law 8 am to 9 pm) we did 10-8. Mon - Sat. And every year margins get thinner and thinnner. Plus the laws get tougher and tougher. It was the right time to get out. I wish the new owner great success, but thankfully, that part of our lives is over.Just have to enjoy the $50 bottle of tequila and $85 of Scotch we moved out before inventory!!!!!!

flat rock stan · September 8, 2008

Unfortunately, the industry standard average prifit margin (after liquor bills, before other bills, rent, utlities, etc) is about 22%. That means, to make $60K, before taxes, you need to do almost $400k in sales. The uncle sam and the state get theirs. Hours suck (by law 8 am to 9 pm) we did 10-8. Mon - Sat. And every year margins get thinner and thinnner. Plus the laws get tougher and tougher. It was the right time to get out. I wish the new owner great success, but thankfully, that part of our lives is over.Just have to enjoy the $50 bottle of tequila and $85 of Scotch we moved out before inventory!!!!!!

Congrats and ENJOY! Selling a business IS a great feeling when the timing is right. With sales down and a larger shop I dream about those margins! Thank goodness for my training business to help pay bills!