Spirit Haus Liquor: Finding the Right Buyer to Continue Owner’s Legacy Built Over 50 Years
Industry Expertise
Location
Worcester Area
Business Broker
Situation
The owner of a thriving liquor store in Amherst, MA, called Spirit Haus, was ready to retire and spend more time with his granddaughter and at his beach house. This unique liquor store was his life’s work, which he passionately grew over 50+ years by providing exceptional service and treating both employees and customers like family. When the owner knew it was time to sell his business, he wanted to find the right buyer, which not only meant someone who qualified financially, but who also had a commitment to continue his legacy.
BayState Business Brokers’ Approach
The owner contacted BayState Business Brokers and worked with a broker who has deep experience in this industry having owned his own liquor store for 38 years. The two spoke the same language and the broker intuitively understood the owner’s position, as he had been in those exact shoes when he sold his store. Critical to the process was the expertise the broker brought to the table, as he had the knowledge and experience to take the owner through every phase of the sale. The broker leveraged BayState’s tried and true process to market the business to a base of qualified vetted buyers. When the business was put on the market, BayState immediately received multiple offers. One buyer in particular stood out as an ideal candidate, as he showed a strong interest in owning this business to expand on his portfolio of liquor stores and Subway franchises. BayState engaged with this prospective buyer and quarterbacked multiple key efforts throughout the process, working with all interested parties – including the lending bank and attorneys – to ensure the process moved forward as smoothly as possible.
Results
BayState closed the deal at the desired price point, as it reflected the true value of the business and its assets. The new owner was able to expand his line of liquor stores with this unique business and continues to have conversations with BayState today about future ventures. The seller is now enjoying retirement, spending time with his granddaughter and at his beach house, all with the satisfaction of knowing the business he spent his life building is in excellent hands, along with his valued customers and employees.
