Liquor distribution is heavily regulated in Colorado with a 3-tier system composed of manufacturers, distributors and retailers each tier has its own set of rules and requires its own special license with an application paperwork trail that only a lawyer could love. The quantities of categories, brands, flavors, price points and size variations are mind-numbing. The liquor business is highly complex. Retail liquor, at least in Colorado, is a fascinating business. Since taking ownership of the store I’ve learned a few things about the liquor business that might surprise you. I remember thinking, before I ever contemplated the notion of liquor store ownership, retail liquor stores enjoy a tidy little monopoly. Instead, the owner accepted my offer….hey, that’s great neWith the building under contract I began due diligence. I fully expected a counter-offer that wasn’t sufficiently attractive, allowing me to walk away and go back to business as usual. So, deciding to roll the dice, I made an offer. As I walked around with the owner, it became clear that the liquor business was being sold with the building. I liked the building, especially the location in the heart of Pueblo’s Mesa Junction neighborhood. Since 2010 I’ve been investing in real estate in Pueblo, Colorado and when a commercial building with retail on the ground floor and multifamily residential on the second floor was listed for sale I went to take a look. But, here I am … proud owner of a liquor license and a terrific selection of craft beers, pinot noirs and small batch bourbons….among many other standard liquor store offerings. I wasn’t even shopping for a bottle of wine. I wasn’t really shopping for a liquor store. I bought a liquor store last year….it was sort of an accident. The 3 Lessons I Learned After Accidentally Buying a Liquor Store
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