My father in law really needs to sell his liquor store. We live in a small rural town in Tennessee and I really just need to know where do I start and what do I need to do. If anyone in here has any advice, I would really love to here it.
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call any Indian owned business - ie - hotel or another gas station and they’ll find a buyer in short order.
First thing to consider is the pool of potential buyers.
Small towns in rural areas usually do not have a lot potential buyers for any type of business.
Most are occupational businesses.
So, unless someone believes this is ideal, it may take a long time and more expense to find qualified buyer.
Buyer will also be interested in knowing why in-law needs to sell.
Is it health, retirement, financial (lack of sales), other?
Has appraiser or consultant provided you with opinion of market value?
There are many things to consider before going to broker.
I feel like the main thing is that I need to find the pool of buyers. He is needing to sell because of his health. So would the first thing be to get the business appraised? He tells me what he wants to sell it for but it seems way overpriced.
A for sale sign on the window could work wonders?
I actually have financed a lot of acquisitions of liquor stores in my state.
As someone mentioned getting a reputable business broker to list should be number one.
You can dm me but there are a couple of things I would do before you list.