Liquor Store / Package Store Acquisition & SBA Underwriting Financial Model

Description
Most liquor-store templates are startup or operating forecasts, and most brokers headline the revenue. But a package store inflates its top line with pass-through tobacco and lottery, so the revenue overstates the real earning power. This 5-year, SBA-lender-ready model reads a single-site store the way a disciplined buyer and a bank do.

• Gross-profit-by-category & inventory-turn engine: six categories (spirits, wine, beer, tobacco, lottery, other), each at its own gross margin, so you read the store on GROSS PROFIT, not revenue. Tobacco and lottery can be ~15% of revenue but only ~6.5% of gross profit, the number that decides the deal.
• The honesty a broker's sheet skips: a 2% shrinkage line the broker ignores; a market-rate manager to replace the owner who works 60-70 hours; and inventory-at-cost (~$464k, ~87 days) kept OUT of the purchase price. So the true DSCR (1.33x) sits next to the naive broker DSCR (1.96x).
• License as a separate asset: a toggle for an open-issue state ($0) vs a quota state ($350k), with the appraisal gap bridged by a seller note.
• The down-case that matters: a big-box / online / FTC-driven shock (gross margin -250 bps, volume -10%) drops DSCR to 0.63x, well below the 1.25x floor, because operating leverage is real. The 3.38x spirits+wine+beer coverage is the cushion.
• SBA 7(a) capital stack with a seller-note standby lever, the DSCR gate, and a 5-year cash-on-cash and equity multiple (no IRR, deliberately).
  
  

Ten Excel sheets (Google-Sheets-safe, no macros), a PDF guide, three store profiles (Balanced Neighborhood / Spirits-&-Wine Destination / Convenience-&-Tobacco), and a sourced benchmarks sheet. Educational planning tool, not financial, legal, tax or investment advice.