Owning a bar is a fantasy that many can claim. Who hasn't once thought about what it would be like to own and manage the hottest place in town? Your favorite bar may be the place where "everybody knows your name," but is it a good financial investment? Like all business investments, there are important factors to consider before you jump in and buy a bar business for sale. Bar establishments depend primarily on sales, so investigate carefully whether or not the bar you are considering buying has these components:
Location, Location, Location
Obviously a common mantra in real estate -- primarily because it is true! If you are looking for buy bar opportunities, look for bars located near restaurants, movie theaters or other popular hangouts. When people are out, they tend to stay close to their original destination. A bar located near a favorite local restaurant will see a lot more traffic than one located farther away.
Parking is another item to think about before you buy. Bar establishments that offer ample parking (or are located within easy walking distance from a parking garage) make it easy for patrons to choose them. If parking is not easily accessible, is there a way to offer valet?
Would You Like Some Fries With That?
Look to buy bar opportunities that serve food in addition to liquor. Bars that serve food tend to be more successful over time than bars that only serve liquor. Not only do you ensure that your patrons have no reason to leave, regular intake of food helps them continue ordering drinks -- which is where your real profits come into play!
And, the food doesn't necessarily have to be top cuisine in order for customers to buy. Bar food can be anything from appetizers and peanuts to pizza and burgers. Of course, once you buy a bar for yourself, you can take the food any direction you wish. Many bars are embracing a new trend of serving high caliber food to their patrons.
Let's Get This Party Started!
Successful bars have a hook -- a reason to draw people in. When looking into buy bar opportunities, look for a bar that offers live bands, karaoke or broadcasts sporting events. People need a reason to walk through your doors. A bar that includes room for a stage, has the latest karaoke equipment or is decked out with flat screen televisions is going to fit that bill.
Obviously you would want to investigate other factors (like profitability, licenses, etc…) before you buy. Bar opportunities are about more than just financial returns, however. Making it easy for patrons to come, having good food for them to enjoy and entertainment will go a long way towards your success as a bar owner.
See all California bars for sale on BizBen.com at this time.
About the Author: Peter Siegel, MBA is the Founder of www.BizBen.com (established 1994 - 7000+ California businesses for sale, 200 new listings daily) and the Director of the BizBen Network (16,000 business buyers, 4,000 small business owners, 1,800 California business brokers & agents). He consults daily with business buyers, business owners, small business advisors, business brokers and agents on selling and buying California small businesses. He is also the author of three books on the topic of how to buy and sell California small to mid-sized companies. For a FREE consultation on the best way to buy or sell a California business, phone Peter Siegel direct at 925-785-3118.
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For over 25 years Peter Siegel, MBA has been providing niche business purchase financial advisory and loan placement services with SBA Loans, Non SBA Financing, Retirement Plan Conversions, Note Restructures, etc. Call me regarding business purchase financing and to get pre-qualified: 925-785-3118.
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I am the Founder Of BizBen.com. I consult daily with intermediaries, business buyers, owner/sellers & advisors daily about buying and selling California small to mid-sized businesses. Contact me today about joining & utilizing BizBen, consultations, & advisory services.
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I am an experienced entrepreneur, attorney, & business professor. I & my EvergreenGold® team offer business owners sound advice & expertise to build business value & achieve profitable sales. Call me today for a business evaluation & SWOT analysis for your business anywhere in the USA.
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If your business involves alcoholic beverage sales, we can help. Obtaining a liquor license transfer or selling a business with a license in California does not have to be a frustrating and overwhelming process. We have procured thousands of licenses for our clients.
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Cheryl's a restaurant business broker, over 25 years in the bar and restaurant industry coupled with a J.D. Cheryl works tirelessly to create successful strategies and effective negotiations for those who wish to purchase a new or sell an existing bar, restaurant, cafe, or night club. 415-309-2722
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McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.
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Laundry consulting, due diligence, buyer representation: We preview laundries for you and evaluate them. 28 years laundry industry experience: buying, selling, valuing, retooling, analyzing, consulting services for laundry buyers and entrepreneurs in California. Contact us today about our services.
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The Veld Group provides a refreshing approach to Business Brokerage, Mergers & Acquisitions and Business Consulting and Valuations. From Your Street to Wall Street, we cater to Main Street Businesses as well as more complex Strategic Firms and Start-Ups.
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