Buying a liquor store with the building or on a lease: what changes?

A liquor store is a retail business, and its sales follow its address. Customers come for convenience, so foot traffic, parking and a visible front door do much of the selling. That makes the question of building or lease more than a financing choice. It decides whether you control the location that earns the sales. Look at both routes the same way, and ask your lawyer and accountant to review whichever you pick.

Test how much the location drives sales

Visit at different hours and days. Watch where customers park, how they reach the door, and whether the sign can be seen from the road. Ask the seller what would change if a neighbouring tenant left, a road was reworked or a competitor opened close by. If sales depend on one corner, the right to stay on that corner becomes the most important term you will review.

On a lease, the runway is what you are buying

Read how much time remains, whether there are renewal options, and how rent is set when you renew. A short runway with no option may let the landlord end the business you just paid for. Ask whether the landlord must consent to a new tenant. Which licences transfer when I buy a business covers the licence side, and the licence and premises rules go to your lawyer.

Fixtures and the building price

Coolers, walk-in units and shelving may be built into the space. Ask who owns each item, who maintains it, and whether it stays with the store or the property. If you buy the building, ask for the store and the property to be priced as two things, so that you can compare each with its own evidence and see what financing each needs. Your lender will set its own terms for either part.

• Years left on the lease and each renewal option
• Landlord consent to a transfer or assignment
• Who owns coolers, walk-ins and signage
• Parking, visibility and nearby tenants
• A separate price for the store and the building