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I am looking to buy a bar/tavern I am a first timer and dont know where to start. If anyone could give me some

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Answers (16)
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Richard Carl
loan offer.. apply now for a loan
Houston County, TX

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May 25, 2012
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The BAF Group LLC
MD

Lloyd, do you really think people are going to take you seriously, this way? Do you not understand that you are probably irritating people, rather than enticing them to contact you?

Nov 18, 2011
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I have a bar in a great location in Charleston SC near the coliseum and outlets. 5000sq feet turnkey bar for 125,000. If intrested email me at Isiah.Denmark@yahoo.com. I have pictures if u want to see it.

May 29, 2011
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Teresa
Are you looking in a small town? Just a drinking bar or serving food as well? Let me know I know of one for sale..Su southasianangel1@yahoo.com

Dec 16, 2010
George King
Los Angeles County, CA

Hi Teresa,

Well, I have all the answers you need. I have been looking to purchase an existing bar/tavern and finally after 2 years, located one that actually has verifiable positve cash flow. Basically, you can employ (for free) the help of some business brokers to send you daily emails with new listings for bars/taverns. At this point, you should know what city, location, size, type of bar you want. (ie, drinking/dive bar, lounge, etc). You should already have extensive experience in the bar industry. Experience as in bartending/serving, managing...not experience as a bar patron. Owning a bar is heavy duty work long hours involved.

Once you locate a bar, you should begin preparing a business plan. There are just so many things you will need to do. If you make an offer an it was accepted, make sure the purchase agreement covers you. By this I mean, make sure the offer is contingent upon you having the business professionally valuated(to ensure the business is even worth the purchase price) and contingent upon you receivng business financing to fund the acquisition.

Business funding for a bar/tavern is a story in itself. Even if you have great credit, banks will rarely offer you a significant amount of financing, if any. As a result, your options are really limited. You can always request the seller to finance a portion of the price and you put down the rest. Or, look for private investors. This can be structured by using debt-financing or equity financing. From my experience, it is very difficult to secure a private investor. To this day, I have not found any to risk their money on me and a bar busines.

It is not impossible, you just have to be persistent. More than likely, you will have to offer some equity share to the private investor. Your best bet, is to get the seller to finance as much as you can get him to finance and get a small microloan and then put some of your own money. There are many creative ways but it's like putting a puzzle together. Good luck and hope this helped.

Sep 24, 2010
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im walter i to am first timer ,but i have a working nillage . i got offward a deal , just coudnot turn down , got a sba out there, comm loan out there to . thay are takeing to long , to close , im doing a little to no money down .my time is . if you interrested , e mail vw. trike@hotmail.com

Sep 15, 2010
Michael Hamlar
Hamlar Enterprises, LLC
Roanoke City County, VA

Teresa,

First of all where are you located. Second, what kind of bar/tavern are you looking for? Are you going to invest your money, SBA loan, or another funding source? Location is everything in the food service industry. Are you going to have a building or lease downtown? If you have questions you can contact us.

Regards,

Michael Lawrence Hamlar
President & CEO

Hamlar Enterprises, LLC
Hamlar Business Broker
P.O. Box 3336
Roanoke, VA 24015
Office: 1.800.682.1950 ext 101
Fax: 1.800.682.1950
Website: www.hamlarenterprises.com
Email: mike@hamlarenterprises.com
Skype: MHamlar

Jun 11, 2010
Michael Blade
Ivory Coast Investment, LLC
CEO/Owner (Boca Raton)
Palm Beach County, FL

Teresa,
I own a bar/Night club now, what is it you need to know....?
You will operating Capital for sure, to start....!

Jun 9, 2010
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Cook County, IL

Teresa, I have a bar/nightclub getting their books together as we speak. They are located in Denver. If you have an interest in this area, you can reach me at midwest54@aol.com.
Matt

Jun 8, 2010
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R A

Hi Teresa,

Have you thought of investing your money? It's usually safer than trying to start a business, especially in this econony. If you're interested in investing, please e-mail me at rebecca_acosta23@yahoo.com an let me know how much you were looking to invest.

Jun 8, 2010
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Teresa,
bars are an extremely tough business to get into. Do you have money or property to back a loan? The chances are very slim that you will get financed to start a bar. An existing bar is also tough to get financed because of the nature of the beast-- most places don't have good books (not an indictment on bar ownersjust the reality of the industry.)
If you have money then anything is possible. If you have some money down you may be able to find an owner finance type of situation. That has drawbacks too. be careful of the terms, let the seller know that they can't interfere in the biz unless you don't pay your loan. make sure the cash flow is enough that you can make a living and still pay off the loan.
Make sure you have a good location. There is a bar near me that closes down every year and a new owner takes over and tries and subsequently fails.
Be prepared to watch the money. bartenders will flat out steal and/or give friends and relatives free drinks. before we bought our restaurant (no liquor) we looked at a bar and went in several times. we went on a friday and the place was packed with only a young lady tending bar by herself. We asked her if she felt safe with the huge crowd in there by herself and she replied that she invited 6 of her friends to come in and drink for free and help her if there was any problems. The next time we went in another bartender was giving free drinks to a high school friend and her husband that she hadn't seen in years.
Good luck, you have a daunting task ahead of you. Just remember the American dream is out there--- but it's not free and it isn't easy.

Jun 4, 2010
Terri Bollman-Wyzkoski
MainStreet Bank
Sr. Commercial Lender
Fairfax County, VA

Teresa,

Once you've identified a tavern/pub, we can help you value the business (based on historic earnings and assets) so you know if you paying a fair price, getting it at a discount or need to negotiate down. As well, we can assist you in producing a business plan. Finally, we can obtain the necessary financing on your behalf.

Let's chat anytime that is convenient for you to see exactly where you are today. The most important thing in deciding on the purchase of a business is either having some experience in that industry, or making sure you have excellent employees with appropriate experience running the day to day operations.

I'd be happy to have a conversation with you to determine if you're an eligible candidate for an SBA or other type of loan. If you we believe we can add value to your search, please give us a call at your convenience.

Kind Regards,
Terri B. Wyzkoski
Managing Member
Business Lending Solutions LLC
11654 Plaza America Drive #363
Reston, VA 20191
Twyzkoski@BusinessLendingSolutionsLLC.com
Direct: (703) 655-9939
Skype: BLS_TerriWyzkoski
Linked-In Profile: http://www.linkedin.com/profile?viewProfile=&key=11431574&locale=en_US&trk=tab_pro

www.BUSINESSLENDINGSOLUTIONSLLC.com
Your Financial Solutions Provider.

Jun 4, 2010
Harry & Sally Vaishnav
Angel Business Advisors
President
Oakland County, MI

Teresa

I'd say start with a local SCORE chapter in your area. They can give advice on starting a business. Also, attend some seminars or talks on starting a business in your community. Look in the newspaper to find if there are any. Also, go to library and borrow couple of books on starting a business.

If you are looking for help in preparing a Business Plan or performing Due Diligence to analyze the financial statements of the seller we can help with that.

Visit our web site at http://www.angelbusinessadvisors.com/services.htm to get more details. We have worked with number of businesses with great success.

Jun 4, 2010
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i am looking in the akron,ohio or surrounding areas

Jun 4, 2010
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The BAF Group LLC
MD

Where are you looking, Teresa? Would be happy to talk to you.

Jun 4, 2010
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what I was trying to ask is that i am looking to buy a bar/ tavern and im not quite sure where to start. If anyone has some pointers for me what to look for and how to even accomplish buying, I have been trying for about a year now but i keep getting the runaround and no info that actually helps.....thank you for your time and answers

Jun 4, 2010

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