MGM Wine & Spirits FDD Summary
Type of Business
The franchise offered is for the operation of an off-sale retail liquor store.
Corporate Information
In 1970, the current directors of M.G.M. began operating retail liquor stores through a number of corporations. On September 27, 1977, they formed M.G.M. Liquor Warehouse International, Inc. for the purpose of offering franchises for this business. That company offered franchises, and operated the M.G.M. franchise system, until the spring of 1995. In early 1995, through a series of mergers, that company acquired several of the MGM Liquor Warehouse® stores owned by its shareholders and began operating those stores as company-owned stores. It also changed its name to M.G.M. Wine & Spirits, Inc. M.G.M. Wine & Spirits incorporated M.G.M. Liquor Stores, Inc on September 29, 1995, transferred all of its franchise business to them in October 1995, and became our parent company. M.G.M. Wine & Spirits and M.G.M. are Minnesota corporations. The principal offices for these companies are located at 2550 University Avenue West, Suite 230S, St. Paul, Minnesota 55114.
Investment
The total investment necessary to begin operation of an MGM Wine & Spirits® store is estimated at between $274,000 and $2,017,000. This includes an initial franchise fee that must be paid to the franchisor of either $75,000, or a reduced initial franchise fee of $40,000 if the franchised store is located in a state that does not already have 2 MGM Wine & Spirits® stores open in the state at the time that you purchase the franchise.