Should I sell the bar to the guy who's been coming for 20 years or list it properly?
me (57F), own a small-town bar, divorced, kids grown and gone. i've had it 19 years and my knees are done. i'm selling either way, that part's decided. one of my regulars (49M) has been coming since before i owned it. he's offered 140. he'd keep the name, keep my two bartenders, keep tuesday karaoke. he's not a business guy, he manages a parts warehouse. he'd be taking on something he's never done with money he's been saving for a boat. a broker says listed properly i'd get 190 to 210, probably to somebody who'd turn it into a sports bar or gut it. that's 60 grand of difference and i don't have a pension. the thing i keep chewing on is if it goes to a stranger and closes in two years, that's just what happens to bars. if it goes to him and closes in two years, he lost his savings and i'm the one who let him.
This Case Is Closed
Sign In To See The Verdict