What is a potential buyer bar looking for?

A serious potential buyer for your bar will likely already be working with a business broker, attorney, accountant, and commercial real estate broker. This team of advisors should help them flip every stone and make sure every question is answered before they make a purchase. The key to preparing for a successful sale is that you can answer all of these questions in a way that is not just accurate, but also attractive.

All the most important questions that the buyer has fall into one of the following categories:

1. Location

2. Legal and Financial Records of Your Attorney

3. Personnel

4. Customer base

Because they will approach these elements of your business with the help of a team of consultants who help them, your best bet is to get help from your own team. With their help, consider the following items objectively and prioritize the list of things to focus on improvement to attract a buyer and increase the perceived value of your bar.