If you are interested in purchasing a bar, the first step you have to take is figure out what kind of business you want. Is it your goal to own an upscale establishment, or your neighborhood dive bar? Once you’ve decided on what kind of bar you want to buy, it’s time to begin your search. There are a few different ways that you can go about looking for a bar for sale, perhaps you just happened to walk by a spot and see that it’s for sale, or you’ll have to check out online websites to see what’s available. If you aren’t sure where to start, a restaurant broker can help you locate bars that are for sale within your area and then give you some guidance on how to go about purchasing it.
There is a big difference between serving liquor by the drink, versus wine and beer only. Depending on the state, a license to serve liquor by the drink also entails the ability to sell goods or drinks that people can buy already packaged to-go. There may be requirements for how many seats, amount of parking, and other aspects that you need to have. You must be sure that you are abiding by regulations set forth for the bar so that you prevent issues from arising in the future.
Before buying a bar, it is important that you are informed about the liquor license requirements. You may have to undergo a fingerprinting and background check, including any partners who are interested in being part of your project. The last thing you want to do is place an offer on a bar and begin the process of approval, only to realize that your business partner does not have a clear background history and it can prevent you both from obtaining your dreams.
As abuying a bar lawyer explains, not everyone is going to build a bar from scratch, so if you are in the position to purchase a bar that has already been established, you’ll need to know what to look for to increase your odds of a successful start for your business. Buying a bar and then realizing later they have to spend even more money to repair essential systems and other flaws that you were not previously aware of, can surely dampen your enthusiasm and pocketbook.
If you are buying a bar that is already in existence, you will need to know every detail for the lease. With help from your lawyer, take time to examine the lease agreement in detail. You have to be informed about what term is left on the lease and what is included. If you are assuming the lease, then you’re going to be responsible for every condition that was agreed upon by the previous owner. For this reason, it’s a good idea to send the lease agreement to your legal team, similar to those at Silverman Law Office, PLLC, so they can examine it and potentially bring up any points you may not have thought of before. By having a lawyer review documents and the process of purchasing a bar, you are better prepared for what is to come and see that your visions come to fruition.