Old UCC Article 6 notice rules. Most states repealed them; tax successor liability remains.
The parent guide is /guides/state-by-state-bulk-sales-tax-clearance/. Also read SDE, inventory at cost, the valuation pillar, and how a sale works.
USDA FNS: SNAP authorization does not transfer; the new owner files a new application 3.38 average earnings multiple on grocery/supermarket businesses sold on BizBuySell in 2025. This page is the short, citeable answer — not a second CIM.
| 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 What is a bulk sales law, recast SDE of $386,778 at 1.63×–3.27× plus $132,038 inventory at cost frames a going-concern band of about $762,486 to $1,396,802. The 2.26× midpoint lands near $1,006,156. Lease remaining term and license lag can move the check more than the multiple.
Checklist: What is a bulk sales law
- 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 What is a bulk sales law, scan data, and license clocks — not on a neighbor’s rumor multiple.
Owned real estate is a second asset. Recast the store on market rent, then cap the building. See also lease diligence, liquor transfer, recasting a P&L.
Tax clearance belongs in escrow language, not in a handshake. Put it in the CIM or it will show up as a re-trade.
A rural box can be a good living and a terrible loan. Those are different questions. That is how a grocery file is actually read.
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 SDE, inventory at cost, shrink, SNAP authorization.
Multi-store sales need a shared recast and a shared license calendar, or they unravel store by store. Put it in the CIM or it will show up as a re-trade.
Turns are not one number. Center store and wine do not share a clock. That is how a grocery file is actually read.
A below-market related-party rent juiced the earnings and will reverse on day one.
Bulk-sale or successor-liability practice can still exist after UCC Article 6 died. See also turns, DSD, wholesaler, asset sale.
WARN and union contracts are calendar items on larger headcount files. Put it in the CIM or it will show up as a re-trade.
Revenue multiples hide rent and labor. Use them to sanity-check, then return to SDE. Put it in the CIM or it will show up as a re-trade.
Earn-outs on grocery are hard because the buyer controls mix after Monday. See also SDE, inventory at cost, shrink, SNAP authorization.
Read the valuation guide, confidential sale, SBA 7(a). 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.
Earn-outs on grocery are hard because the buyer controls mix after Monday. Put it in the CIM or it will show up as a re-trade.
Distressed stores still have inventory and a lease. Price those, not a turnaround novel. See also turns, DSD, wholesaler, asset sale.
Department gross margin hides in a storewide blend. Meat and produce can sink a “healthy” number.
CAM true-ups can erase a year of “extra” SDE. That is how a grocery file is actually read.
Alcohol is a class, a quota, or a control store — never “the liquor license” as one magical asset. Put it in the CIM or it will show up as a re-trade.
Employees learn from vendors and shoppers. Confidentiality is a process, not a speech. See also lease diligence, liquor transfer, recasting a P&L.
BizBuySell multiples are a listing-site sold sample, not chain M&A.
Holdbacks exist because grocery has shrink and successor tax risk. That is how a grocery file is actually read.
Post-close, the first 90 days are vendor trust, shrink, and not changing the mix for sport. Put it in the CIM or it will show up as a re-trade.
Sales-tax filings are a sales corroboration tool, especially where food is taxed or partially taxed. See also SDE, inventory at cost, shrink, SNAP authorization.
Assignment, exclusive use, and co-tenancy are the three clauses that surprise civilians. That is how a grocery file is actually read.
Tobacco licenses sit with tax and health agencies, not with the APA automatically.
Non-competes have to be enforceable in the state and narrow enough to keep. See also SDE, inventory at cost, shrink, SNAP authorization.
FMI channel facts describe a supermarket sample. Your 8,000 square foot box is not that sample. Put it in the CIM or it will show up as a re-trade.
FIFO versus a messy room is how you start a fight at 2 a.m. That is how a grocery file is actually read.
APA schedules are where the real store lives: contracts, equipment, excluded assets.
EBT deposits should reconcile to the SNAP story. A gap is either mix, downtime, or fiction. See also turns, DSD, wholesaler, asset sale.
Lease remaining term under 24 months without options is a price cut, not a footnote. Put it in the CIM or it will show up as a re-trade.