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| Topic | Grocery reading | Link |
|---|---|---|
| Earnings | Recast SDE or EBITDA | SDE |
| Stockroom | Inventory at cost | inventory |
| EBT | New owner application | SNAP |
| Debt | DSCR on the recast | DSCR |
Illustrative, not a quote. For a privacy, recast SDE of $361,687 at 1.82×–3.28× plus $134,808 inventory at cost frames a going-concern band of about $793,078 to $1,321,141. The 2.63× midpoint lands near $1,086,045. Lease remaining term and license lag can move the check more than the multiple.
Checklist: privacy
- Recast the P&L into SDE
- Separate inventory at cost
- Abstract the lease
- List SNAP, alcohol, food, WIC, tobacco
- Read the wholesaler agreement
- Write license conditions into the LOI
Illustrative, not a quote. Keep the conversation on privacy, scan data, and license clocks — not on a neighbor’s rumor multiple.
A CIM that omits the lease abstract is a brochure.
Selling to family or a manager still needs a real price and a real note. Soft language creates hard lawsuits. DSD vendors will keep delivering after a sloppy close only if someone is paying them. Owned real estate is a second asset. Recast the store on market rent, then cap the building. See also SDE, inventory at cost, shrink, SNAP authorization.
Tax clearance belongs in escrow language, not in a handshake.
A rural box can be a good living and a terrible loan. Those are different questions. DSCR is annual cash flow over annual debt service. Hope is not a ratio. Comparing offers means cash at close, note terms, inventory treatment, and license risk — not the headline price. See also lease diligence, liquor transfer, recasting a P&L.
Multi-store sales need a shared recast and a shared license calendar, or they unravel store by store.
Turns are not one number. Center store and wine do not share a clock. A below-market related-party rent juiced the earnings and will reverse on day one. See also turns, DSD, wholesaler, asset sale.
Bulk-sale or successor-liability practice can still exist after UCC Article 6 died. Read lease diligence, liquor transfer, recasting a P&L. Cross-check how a sale works and the FAQ. Format pages live under sell an independent supermarket and buy an independent supermarket. Tools: valuation calculator, cash-to-close, rent checker.
Food-desert rhetoric does not replace a P&L. Working capital is the cash to buy the next load, not a vibe.
Attorneys and CPAs who have never closed a grocery file will rediscover SNAP in week six. See also lease diligence, liquor transfer, recasting a P&L.
Recast before you argue a multiple. Owner pay, one-time legal, and personal autos can move SDE; recurring shrink cannot. Wholesaler over-advances are debt. They are not an add-back. SNAP authorization does not transfer. Budget downtime in cash and in the story you tell the landlord.
Unreported cash does not survive SBA. It also does not survive a serious conventional buyer. See also SDE, inventory at cost, shrink, SNAP authorization.
Ethnic mix without language on the floor is a shrink plan. Seller notes often sit on standby behind SBA. Read the standby, not the folklore. A CIM that omits the lease abstract is a brochure.
Selling to family or a manager still needs a real price and a real note. Soft language creates hard lawsuits.
DSD vendors will keep delivering after a sloppy close only if someone is paying them. Owned real estate is a second asset. Recast the store on market rent, then cap the building. Tax clearance belongs in escrow language, not in a handshake. See also turns, DSD, wholesaler, asset sale.
A rural box can be a good living and a terrible loan. Those are different questions.
DSCR is annual cash flow over annual debt service. Hope is not a ratio. Comparing offers means cash at close, note terms, inventory treatment, and license risk — not the headline price. Multi-store sales need a shared recast and a shared license calendar, or they unravel store by store. See also lease diligence, liquor transfer, recasting a P&L.