Take over an established lottery shop

Regular local customers buying tickets and everyday items. The lottery operator pays commission on ticket sales.

Commission on lottery sales plus margins on other goods. An existing shop means sales history to review, but you pay more upfront for the business and its goodwill.

• Reading simple financial statements
• Negotiating with sellers and landlords
• Customer service and staff scheduling
• Cash handling and stock control

• The lottery licence or retailer agreement may not transfer automatically, so check the operator's approval process before you commit
• Check the lease length, renewal terms and any assignment consent from the landlord
• Verify that sales figures match tax filings and that lottery commission is a realistic share of income
• Rules differ by province, and Quebec has its own operator and French-language requirements
• Get a lawyer to review the purchase agreement and ask about stock, equipment and liabilities
• Insurance, and WCB/WSIB coverage if you keep or hire staff (rules by province)

Costs are typically estimated at around $120,000 to $500,000, depending on the shop's location, stock, equipment and customer base. Ask a lawyer to review the purchase agreement and check stock, equipment and liabilities.

Monthly revenue is typically estimated at around $25,000 to $100,000, depending on the shop and its regulars. Verify that sales figures match tax filings and that lottery commission is a realistic share of income.

Check whether the lottery licence or retailer agreement transfers, as it may not do so automatically, and the operator's approval process. Also check lease length, renewal terms, landlord consent, provincial differences (including Quebec) and insurance.