Buy an existing liquor store

The store's existing local customers, plus any new ones you attract through better range, service or opening hours.

Same as any liquor store: markup on bottles, cans and extras. You skip the slow build-up but pay for it upfront in the purchase price.

• Reading simple financial statements
• Negotiating a purchase and lease
• Retail management and stock control
• Managing and training staff

• Licenses often cannot simply be handed over; check your state's transfer rules and approval time before paying a deposit
• Check the lease length and renewal terms, since a short lease can make the purchase risky
• Make sure the stock value, any debts and any past violations are clearly covered in the contract
• General liability and liquor liability insurance, and workers' compensation if you keep or hire staff
• Existing staff and customer habits may change after a takeover, so plan how you will handle the transition
• Financing is a large commitment, so check loan terms carefully, including any personal guarantee

Estimates are typically around $150,000 to $500,000, depending on the store, its stock, location and lease. Check how stock value, debts and any past violations are covered in the contract before you commit.

Monthly revenue is typically estimated around $40,000 to $150,000, depending on location, range, opening hours and customer base. Revenue is not profit, so review the seller's financial statements closely.

Licenses often cannot simply be handed over. Check your state's transfer rules and approval time before paying a deposit, and check the lease length and renewal terms too.