How do I assess a marina’s ship store and snack bar inventory?
Count the stock yourself or watch a count, separating the ship store from the snack bar. Check dates and condition, compare what is on the shelves with recent sales and purchases, and agree in writing how the inventory is valued and who pays for stock that cannot be sold.
Two very different kinds of stock sit here. Ship store goods, such as hardware and boat supplies, can sit for a long time, and some items go out of fashion or season. Snack bar goods spoil, so dates and storage matter more. Treat them separately.
Ask for the latest count and the method the seller uses. Then do a spot count of your own and trace a few items back to invoices. Look for slow sellers, damaged packaging, dusty shelves and unusually large quantities of one item. Compare the stock to sales records: if shelves hold far more than the business sells in a season, ask why.
Ask whether any stock is on consignment or belongs to someone else, and whether suppliers are owed money for it. Agree early how stock will be counted on closing day and who decides what is saleable. Your accountant can help set the method, and your lawyer can write it into the agreement. Ask which products the store carries mainly as a convenience for boaters, and whether the buyer might drop them. Photograph shelves and coolers during the count so both sides can refer back to them.
Key takeaways
- Treat ship store and snack bar stock as two separate checks.
- Do your own spot count and trace items to invoices.
- Compare shelf quantities with what actually sells.
- Agree in writing how closing-day stock is counted and handled.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentWhat is inventory
- 02Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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