Would you pay $2.4M for a brewpub in Albuquerque? We wouldn’t—and here’s why.
Business Listing - https://www.bizbuysell.com/business-opportunity/flourishing-taproom-for-sale/2345707/
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In this episode, Heather, Bill, and Michael dissect the listing for a taproom in Albuquerque, New Mexico, that’s asking $2.4 million for a business generating $300K in cash flow. With the real estate not included, the team breaks down the economics of owning a brewery, dives into the intricacies of taproom licensing in New Mexico, and debates whether this is a hidden gem or a real estate play in disguise. Spoiler alert: the numbers don’t add up. From licensing laws to market rent assumptions, this episode is a deep dive into the realities behind the romanticism of owning a brewpub.
Key Highlights:
- Asking 8x EBITDA for a taproom with questionable profitability
- Real estate valued at $2M not included in asking price
- Discussion on current contraction in the brewpub industry
- Insight on liquor licensing workarounds in New Mexico
- Breakdown of potential mispricing and market rent blind spots
- Perspective on real estate being the actual asset over the business
- The risks of unsophisticated sellers and brokers in these deals
- Evaluation of business scalability and margins in taprooms
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