Washington’s City Paper has a long look at the sale process underway at Politics & Prose. Talking to business appraiser and broker Jeff Jones, they say a typical successful bookstore would sell for approximately 15 percent of annual sales plus the value of the inventory, leading them to a rough estimate of tangible assets (before goodwill) worth $3 million. Complications include a lease that is set to expire in two years (which Barbara Meade is renegotiating now), and a cafe arrangement that expires in 2014. The big intangible is that “no accountant will ever truly figure out is how much […]
