Liquor Store Mostly Wine In Fairfield County For Sale

Business description

Price slashed to $75,000 - this isn't a typo!

The is a Liquor Store specializing in fine wines, premium spirits, wine accessories and gourmet beers in a high income, historic, executive level CT town. It occupies 2 store fronts across the street from the Town Hall and very close to the Post Office and the Town’s only hardware store on Main Street. The store has street parking in front and a dedicated 18 space parking lot at the rear of the store (with a separate customer entrance/exit).

This Liquor Store started here more than 50 years ago. The present Owner has been here over 30 years. It caters to their customers tastes for fine wines & liquors. More than 70% of their business is in wines. The Owner’s son was somewhat of a wine connoisseur and their customers liked the professional service and knowledge they received. The store did (and does) wine tastings, delivery, caters liquor at parties and functions, personalizes gifts, makes up gift baskets and has a wine of the month club.

The Owner’s son ran the business. He left the business in 2010 and the Owner and his wife now run the business themselves. They usually hire a part time employee for 20 – 25 hours a week to clean and stock shelves.

In 2008, store sales were almost $900,000. In 2008 sales fell to $771,000 and further eroded to $566,000 in 2010. Over the last five year sales have averaged $765,600.

Part of the problem explaining this decrease is that the Owner’s aren’t nearly as experienced in wines as their son was and sales seem to be suffering because of it. The economy isn’t helping either – but that will improve. Having the new Owner experienced in wines is very important to returning sales to their past levels. Owner’s Cash Flow in 2010 was $30,500. Using the five year average ($765,600) Cash Flow would have been +/- $56,900.

The store is located at the intersection of Catoonah & Main Streets. It is in a block of retail storefronts facing Main St. The liquor Store is across from the Town Hall, near the Post Office and next to the Town’s only hardware store. Ridgefield residents shop the stores downtown so the area has a lot of walk around traffic. Main Street is also a main corridor through Ridgefield and the main route for commuters coming and going about their business. The main level of the store has +/- 2,040 s.f. of space and the functional (usable) basement has 1,400 s.f.

Residents of Ridgefield support the Town’s businesses. This Liquor store is centrally located with the best location of the 8 other liquor stores in town. There are no more liquor licenses available in the town.

Property information

Real Estate:

Lease

Leasehold rent:

$78,000 per annum

Other information

Reasons for selling:

Retirement

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

If qualified, Owner will do some financing.

Inventory / Stock value:

$50,000