What should I check before buying a wine store?

A specialty wine shop is not a general liquor store with a prettier shelf. Its customers often come for the owner’s taste and advice, and its best products may reach the shop through personal ties with agents. When you inspect one, ask what the owner does that you cannot do on day one, and how you would learn it.

The owner’s palate and supplier ties

Ask which wines sell because of the owner’s recommendation and which sell on their own. Then ask the agents who supply the shop how they would treat a new owner. Some allocations follow a person, not a premises, and a seller cannot promise what an agent has not agreed to. Spend time in the shop on a busy day and watch who asks for whom.

Club members, lists and events

A wine club, a mailing list or a tasting series can be a real asset, but only if the customer information may be passed to a buyer. Your lawyer can tell you what privacy rules apply to the list. Ask how events are staffed and how they earn, and whether a regular host or pourer is leaving along with the owner.

Condition of the stock

Wine can be damaged by heat, light and poor storage, so look at how and where bottles are kept. Walk the cellar or back room. Ask which bottles have sat for a long time, and whether any are held for customers or on consignment. Count and inspect the stock with your accountant, because what you pay for should be what you can actually sell.

Corporate and gift orders

Ask which orders come from businesses and gift buyers, how regular they are, and who holds the relationship. Request records instead of accepting a verbal summary, and speak with a few of those customers if the seller agrees. Read how to find a liquor store for sale for the search side.