Murrurundi Dooley’s Liquor in Hunter Valley is a story of perseverance. The owners of Murrurundi Dooley’s Liquor had a flowering business they wanted to sell but a set of unique circumstances saw the process take 5 years. Despite the long wait, Aussie Supermarket Brokers persevered and found the perfect buyer.
Attractive but Challenging Package Deal
An important part of the community, Murrurundi Dooley’s Liquor is the only supermarket in a thriving country town with a turnover of $32,000 per week and a Gross Profit Ratio of 24%. Situated on the main road, with over 15 years of establishment and with great potential for growth, this business is the sort many ASB qualified buyers would leap at to own.
Murrurundi Dooley’s Liquor’s unique circumstances presented a challenge for our brokers as the retiring owners wanted to sell the business, their house and their freehold land as a package deal. Never ones to shy away from a challenge, the Aussie Supermarket Brokers team set their sights on a sale.
Reaping the Fruits of Arduous Negotiations
Aussie Supermarket Brokers took on this listing in April 2012 and quickly received a lot of offers for the business. However, this was a package deal and without the building, land and house it wasn’t going to clear.
As individual components, the business and the house would have sold quickly. The business was doing well with steady income, solid profits and potential for growth in a heritage listed building. The house is beautiful, spacious, boasts a pool and views that money cannot buy. Selling them together was an altogether different prospect.
ASB worked hard to find a buyer using fantastic industry knowledge and communication skills to identify serious buyers and prove the worth and potential of the package on offer.
After negotiations and discussions that lasted over a year ASB managed to sell the business, freehold land and stock at value for $1,175,000 in May 2017.
Broker Liz Krienke said of the sale: “Trust is a huge part of the process and thanks to the trust placed in me and ASB by the vendors, as well as the partnership we forged over a significant period of time we were able to achieve an outstanding outcome.”
A Rival Contract Helps Seal the Deal
Murrurundi Dooley’s Liquor’s buyer was galvanised by a late challenger who threatened to put in a rival contract offer and soon after, the deal was done for the business, land and property as the sellers wanted.
Business Analyst Louise Nicado said: “ASB not only managed to sell the store and stock for value but also the owners’ residence and freehold is one of our more unique success stories.”
If you’re looking to sell your business or buy an existing, profitable supermarket get in touch with one of our brokers today.