Advice for selling a bar/tavern in New Jersey
[deleted]
[{"id": "eh8sqiw", "text": "As a Controller for a real estate developer, I do bookkeeping as my side hustle and it just happens that one of my clients owns a bar!\n\nIf I remember correctly, I think the ratio for a bar is like 1.5 or two times gross profit (sales less COGS) for a year. \n\nGood luck!", "replies": [], "depth": 1}, {"id": "eh8t4di", "text": "Yes, that would be just for the business.  Pricing the building should be pretty straightforward and I\u2019m not sure about the license since down south we have crazy Liquor laws.  In my friends case the license transferred since he was just buying out one of the partners. \n\nHave you thought about just selling the bar and leasing the building to the new owners?", "replies": [], "depth": 1}, {"id": "eh8vtyw", "text": "My main question would be how successful is this bar? Is it popular? Or does it float by like many average bars? \n\nI\u2019d get a broker who has a history with restaurant work. If the answer to the first question is in fact it is a successful bar you might what to consider selling the building with a lease-back clause then higher a great manager or ask another bar in town if they\u2019d like to buy the business. ", "replies": [], "depth": 1}, {"id": "eh94mgd", "text": "Who is his cpa? These types of deals are often done by the accountant putting parties together. You also shouldn't expect to see this on a residential real estate site. Not likely to get any legit buyers through those sites. ", "replies": [], "depth": 1}, {"id": "eh9tzzk", "text": "Try putting it on the MLS for the price of real estate plus 2x gross profit. If you don't care about who buys it, you are best off marketing it this way because you will get many more average joes who dream of owning their own bar browsing than you will through a commercial listing on LoopNet or the like. You might also market it through other local bartenders/managers as well, but they will have a hard time getting a loan most likely.", "replies": [], "depth": 1}]