Liquor Store Ownership Transition (Buy/Sell)
How can a third party help with a smooth transition of ownership?
Inventory is a significant component value of your business. To ensure the inventory is valued accurately, an independent count is often utilized during ownership transition.
Monarch provides and unbiased objective count. Our tablet technology is available to both the buyer and seller, providing them with access to live inventory data being captured by the Monarch team.
For Kansas stores selling liquor, Monarch links the inventory results to the KS ABC-812 Form required for the transfer of alcohol from one license to another. The form is generated and provided at the conclusion of the count.
Best Practices for a Successful
Considering buying a liquor store, But concerned the other party may not be representing the correct value of their inventory?
Have you ever gone to sell something and tried to decide how much to sell it for? It can be challenging to determine how much the item is truly worth, and a lot of factors go into it. When you’re dealing with buying or selling a business you want everything to be as transparent as possible. It is nearly impossible to look at a store full of inventory and have confidence that you are valuing it correctly. Are the books up to date? Is the item pricing correct? Does the POS contain the correct quantities on hand? With all of the due diligence activities, where do you find the time to get a proper valuation of the inventory?
We’re here to help with Liquor Store Ownership transitions
At Monarch, we understand the stress and pressure of a business transition. We will analyze each situation and propose the most effective option for capturing the inventory valuation. Our processes and technology will provide results to 99.9% accuracy. We divide the inventory into small, easy to review locations. Our handheld tablets provide both the buyer and the seller full transparency into each location, including price, quantity, item UPC, description, and department.
- Establish Goals: First, we will work with the buyer and seller to understand goals and scope for the physical count.
- Establish Process: Next, we will recommend a process based upon best practices to align with the goals and scope.
- Automate: We will then use our state of the art technology to automate the approved process and deliver accurate, transparent results to both the buyer and seller.
- Analyze: Next, any areas of concern will be reviewed with both buyer and seller to ensure both parties are comfortable with the valuation.
- Final Reports: Finally, professional reports in both electronic and hard copy format will be provided to both the buyer and the seller. If the store is located in Kansas, state forms associated with the inventory that is being transferred will be completed and delivered to the buyer.
Your Inventory Service Questions Answered
Get answers to your most common questions from Monarch
For our local Kansas retailers, we can link our results to the KS ABC-812 form that is required for the transfer of alcohol from one license to another. The form will be generated and provided to you at the end of our count.
We know that coordinating dates for buying or selling can be complicated. We will do our best to fit you into our schedule. Give us a call and speak to a scheduling representative and they can help find a time that works for both parties.
We will verify and prepare the data for you before we leave the store. We’ll put together a variety of reports for you to review that will spell out exactly how much inventory we counted in each category and location. We’re happy to provide multiple copies of this as well so everyone involved has the same information.