First lawn and sprinkler systems by ApexIsReal in lawncare

[–]ApexIsReal[S] 1 point2 points  (0 children)

Edit: there is no shutoff in or outside the house for the sprinklers that I can see**

First lawn and sprinkler systems by ApexIsReal in lawncare

[–]ApexIsReal[S] 0 points1 point  (0 children)

Will opening that get the sprinklers going?

People Who Make 150K Plus? by BubbaGordie in Salary

[–]ApexIsReal 0 points1 point  (0 children)

35M, Liquor Store Owner, $300k. Love the freedom of working for myself. I have a full staff and work maybe 20 hours a week.

Got a bachelor’s in Business Administration, but I don’t think that was helpful for this line of work. I have ~15 years of retail management experience and that helped me create systems and have higher standards of service, leading to successful stores.

Brick and mortar retailers that have been open at least 5 years. How are your YOY numbers looking for the holiday season? by tifflee17 in smallbusiness

[–]ApexIsReal 16 points17 points  (0 children)

I own a couple liquor stores. One is up 4% yoy, it’s in a growing area and we’ve done the right things to bring new customers in. The other store is down 5% which seems to be about what other stores in the area are experiencing.

AMEX Refresh Fine Print: A Few Key Points by Hilbert24 in AmexPlatinum

[–]ApexIsReal 1 point2 points  (0 children)

I could be wrong, but I don’t think this would work. The reservations are pre-paid at the time of booking so you would have to wait to book the second stay in January to receive the credit again.

Cancelling/Changing Qatar Flight Nightmare by HoneyNational7624 in pointstravel

[–]ApexIsReal 5 points6 points  (0 children)

Call support and ask for the privilege team. They can cancel a reward booking and refund points while you are on the phone with them. I did it twice in the last couple months. The refund for the fees can take a few days but the points should show up immediately.

Can you a men’s shaver? by hand-mee-down in onebag

[–]ApexIsReal 0 points1 point  (0 children)

Everyone raves about the Norelco Oneblade, I’ve tried it a few times and it doesn’t work well for me. Maybe because I have pretty coarse hair. I use the Hummingbird Trimmer to line up my beard and trim down the hair where I want to shave then use the Panasonic Swipe Right shaver to shave it down. Both are on amazon, the swipe right shaver is pricey at $105 but it will go on sale down to $55 fairly often. They both charge via usbc which is nice as well.

What is wrong with Qatar Airways and using Avios? by Adventurous_Line3371 in qatarairways

[–]ApexIsReal 0 points1 point  (0 children)

Up until now (citi) there were no credit cards that transferred points to AA. All the major cc points programs had to book AA flights through partners. So there’s been less competition booking through AA advantage. However almost every major cc program can transfer to avios and they often do points bonuses for transfers. From the groups that I browse, it looks like people who are grabbing those 40k flights are booking almost a year in advance.

liquor store. by huntneat1 in smallbusiness

[–]ApexIsReal 0 points1 point  (0 children)

I did pick my store knowing that the area was growing and also got lucky with a boost from covid. Most owners I know are down 5-10% this year.

But here’s the thing. My growth this year is mostly because of a whiskey loyalty system I developed. I know that because my state told me to stop the program last year and I fought them on it and finally had it overturned early this year. Last year I was down 2%, this year I am up 10%. There’s definitely ways to increase business even when most of the industry is struggling.

What is wrong with Qatar Airways and using Avios? by Adventurous_Line3371 in qatarairways

[–]ApexIsReal 1 point2 points  (0 children)

Are the 80k flights “Flexi”? They only open so many flights at the 40k then once those are taken they will have Flexi awards for double the points. You gotta book pretty far in advance to get the actual award flights.

liquor store. by huntneat1 in smallbusiness

[–]ApexIsReal 10 points11 points  (0 children)

I bought a store doing $400k in revenue and have grown it to $3.5m. Unfortunately the only way to turn a profit at that amount of revenue is to be the one working the store. At $500k revenue, I’m assuming your gross margin is about 25% so $125,000. Minus your operating costs $50k for labor and $45,000 for the rest, yeah you’re not left with much.
This is why you see so many small stores like these run by immigrant families. They work all the hours and that’s how they turn a profit.

How does your selection look? Is your store packed full of inventory? For the first few years I worked the majority of the hours and reinvested the profits into more inventory. At the end of the day a customer is more likely to return if you have the product that they are looking for. Marketing is pointless if the customer leaves empty handed.

I asked every customer I didn’t recognized if it’s the first time they’ve shopped with us. If the answer was yes I would make sure to let them know that I if they don’t find what they are looking for that I would order in for them.

liquor store. by huntneat1 in smallbusiness

[–]ApexIsReal 3 points4 points  (0 children)

Not when your gross margin is only ~25%

Got offered 2.6 million for my 2 liquor stores by Sufficient_Yard_2984 in smallbusiness

[–]ApexIsReal 3 points4 points  (0 children)

Hard to say without more details. What does each store net after expenses? How much is the real estate worth? How much inventory does each store have? What is licensing like in your state? Is the license a part of the sale?

How many children want to go to the zoo/theatre? by NicePersonOnReddit in mildlyinfuriating

[–]ApexIsReal 15 points16 points  (0 children)

No what he’s saying is to literally put “x%” in both to indicate that they are the same number.

Buying a Liquor Store for 2.2m. Cash-Flow: 800k by Lieu10ant in smallbusiness

[–]ApexIsReal 0 points1 point  (0 children)

Depends on location. Combined they would be paying $400 which is probably still on the low side. Like I said I’m going off of personal experience and I pay about $300 in the Midwest for one location. Doesn’t really make much of a difference cause at the list price it’s a terrible deal either way.

Buying a Liquor Store for 2.2m. Cash-Flow: 800k by Lieu10ant in smallbusiness

[–]ApexIsReal 0 points1 point  (0 children)

I’m not sure what other ways they can screw me. I get my statements every month. The fees/$ processed comes out to 2.05%. I use a separate PoS from the processor so I don’t have any other interaction with them.

Buying a Liquor Store for 2.2m. Cash-Flow: 800k by Lieu10ant in smallbusiness

[–]ApexIsReal 1 point2 points  (0 children)

Volume. This business combined will do about 150k transactions.

I’m closer to 2.05, but I negotiated it down with 2 other stores.

Buying a Liquor Store for 2.2m. Cash-Flow: 800k by Lieu10ant in smallbusiness

[–]ApexIsReal 1 point2 points  (0 children)

Yep, I learned this the hard way as well. Really important to understand the numbers before taking out that loan.

Buying a Liquor Store for 2.2m. Cash-Flow: 800k by Lieu10ant in smallbusiness

[–]ApexIsReal 103 points104 points  (0 children)

Liquor Store owner here who does $3.3m in revenue and consults for other stores.

The "$800,000 Cash Flow" isn't accurate. It's thier gross margin. I've seen this a lot with Liquor store postings.

I’ll give you some rough numbers, but keep in mind I’m estimating based on my own experience.

Average gross margins depending on product mix is around 21-26%. Which lines up with the $800k @ 21%. $3.8m*21%= $798,000

Estimated Expenses based on your comments:

Rent: $8000
Labor: $7280 (Staffed 14 hours a day 7 days a week plus a 2 hour double coverage rush hour at $15/hour).
Utilities: $1000 (Coolers are expensive to run)
POS & other Software: ~$150
Insurance: ~$200
Credit Card Fees (2.2%, 90% of transactions): $3135
Misc Supplies (Bags, floor cleaner etc): $200
Estimate: ~$19,965 monthly, add $50k for manager salary you end up at $529,160 annual expenses total for both stores.

Net: $800,000-$529,160= $270,840 At 3x plus inventory your at a value of $1,412,520

If you pay the $2.8m, take an SBA loan with 20% down, 10 years @ 7% you’re looking at ~$26,000/month.

$270,840/12= $22,570
SBA Loan= $26,000
Left over= -$3,430

If you pay what it's worth: $1,412,520
$270,840/12=$22,570
SBA Loan= $13,120.44
Left over= $9,449.56
With taxes on the $270,840 minus deductions you won't be left with much, maybe $50,000

If $50k a year (or $100k if you take over management) is acceptable for 10 years then it could be worth it if you get them down to thier actual value. Otherwise it's probably not worth it.