Hello! My husband and I are pretty sure we are going to buy a small market and deli that is for sale in my small town. The shop is one that has been established in town for decades but the current owners aren't great at running it and are now selling.
The shop sale includes any inventory and equipment – freezer, refrigerators, shelving, deli equipment, soft serve machine, POS, lottery and beer/wine license. We would be divining a 5 year lease for the space. What we hope is that the landlord eventually put the building up for sale – it's on a huge corner lot with lots of room for expansion. We envision a full country market and grocery as the area doesn't have one at all. Closest grocery store is out of town – 10-15 minute drive.
We are very fortunate to have been early buyers of bitcoin and have four years of living expenses in the bank, no debt other than mortgage (we earn more not paying it off as our rate is 3%). So, financially we have a unique situation and will buy the shop with cash. I will quit my day job and my husband is in college. The shop will be my baby but my husband will be our money guy as he's better st it than I am.
What should we be thinking about that we aren't? This is all new to us and I've been furiously reading and trying to make sure we aren't totally insane. Any advice?