Request at least 3 years of profit and loss statements, tax returns, and sales records.
Here is a comprehensive guide to navigating the purchase of an existing bar business. 1. Evaluate the Opportunity & Reasons for Sale buying an existing bar business
Understand why the owner is selling. Is the bar profitable but the owner is retiring, or is the business failing due to poor management or a bad location?. Request at least 3 years of profit and
Ensure the location isn't a "graveyard" where multiple previous operators have failed. 2. Due Diligence: The Crucial Investigation buying an existing bar business