What costs come with selling a convenience store?

If you think only of the broker’s fee, you will miss other costs. A store sale has more moving parts than that, because stock, equipment and a lease all change hands at once. Listing the categories early lets you ask for quotes, plan your cash and avoid being surprised in the last week before closing. Tax on the sale is a separate question for your accountant.

Advisers and the sale process

Expect to pay for a lawyer to draft and review the agreement and the lease paperwork, and for an accountant to prepare recast statements that show the store’s earnings clearly. If a broker or listing service is involved, ask how its fee is calculated and what it covers. Get each arrangement in writing before work starts.

Stock and closing day

Ask whether the sale will include an inventory count on closing day, perhaps by an independent counter so neither side argues about it. That counter is a cost, so agree who pays. Whether expired, damaged or unsaleable goods are excluded from the count depends on the agreement, so ask who absorbs them. Clearing slow lines ahead of time can soften that loss.

Equipment, lease and repairs

Check whether coolers, freezers, the point-of-sale system or an ATM are leased or financed. Paying them out, or arranging the supplier’s consent to a transfer, may carry a charge. The landlord may also ask for its own legal costs when approving a lease assignment. A buyer’s inspection can flag refrigeration repairs, so ask your adviser whether a service visit before listing makes sense.

Your own time

Showings, buyer questions and document requests land on top of a full week in the store. Many owners end up covering shifts or paying a relief worker while they deal with the sale. That cost is easy to forget, so plan for it. The guide to selling a convenience store walks through the preparation.

• Lawyer, accountant and any broker or listing cost
• Independent stock counter and written-off goods
• Leased or financed equipment payouts and transfer charges
• Landlord’s costs on a lease assignment and repairs a buyer flags