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Coming out of retirement
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2023-07-24 at 11:33 AM UTCAfter 10 years if being retired (yes I retired at 51) I've decided to do something. I'm buying a successful popular bar and grill in Kingman Arizona.
The asking price is $650,000. The owner is financing. I'm coming with $200,000 down and he is going to carry $450,000 for 15 years with a nallon payment option after 10 years and no penalty fir early payoff.
It has a class 12 liquor license which men's the sales must be a minimum of 40% food. Currently it's averages 57% food and 43% liquor with a total gross sales average of about $250,000 per month. My payments will be about $3500 per month.
I'm getting a turn key operations complete with staff, management, stock, a loyal customer base which all know and like me, 5 acres of property with ample parking, and all recipes. I do have to sign an NDA on his Jack Daniels beans.
Anyhow this is all set to close on or before September 1st. Once I have they keys I'll let you know where it is and what it's called. That way the internet tuff guyz can vist anytime they wish.The following users say it would be alright if the author of this post didn't die in a fire! -
2023-07-24 at 11:49 AM UTClol bro my fam has owned an operated bars since the 1970s in my area and just let me say...I've seen many go under while only a few thrive
your not starting from the ground up so that's good. what's your overhead? what's a daily deposit like? [roughly I'm not gonna rob u rofl] and do you have an average of how many customers come daily?
do you want to make money? or just have a place to drink? most successful ..no wait...all successful bar owners I personally know, do NOT hang out/eat/drink in their own establishments. maybe once a year, MAYBE.
God I hate the bar/food gameThe following users say it would be alright if the author of this post didn't die in a fire! -
2023-07-24 at 12:34 PM UTC
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2023-07-24 at 12:35 PM UTC
Originally posted by Speedy Parker After 10 years if being retired (yes I retired at 51) I've decided to do something. I'm buying a successful popular bar and grill in Kingman Arizona.
The asking price is $650,000. The owner is financing. I'm coming with $200,000 down and he is going to carry $450,000 for 15 years with a nallon payment option after 10 years and no penalty fir early payoff.
It has a class 12 liquor license which men's the sales must be a minimum of 40% food. Currently it's averages 57% food and 43% liquor with a total gross sales average of about $250,000 per month. My payments will be about $3500 per month.
I'm getting a turn key operations complete with staff, management, stock, a loyal customer base which all know and like me, 5 acres of property with ample parking, and all recipes. I do have to sign an NDA on his Jack Daniels beans.
Anyhow this is all set to close on or before September 1st. Once I have they keys I'll let you know where it is and what it's called. That way the internet tuff guyz can vist anytime they wish.
Congrats, sounds awesome. -
2023-07-24 at 12:36 PM UTCin another timeline you could've been kr'oz's bossThe following users say it would be alright if the author of this post didn't die in a fire!
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2023-07-24 at 12:36 PM UTCCannin' Tantrum
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2023-07-24 at 12:38 PM UTCThe Philosophy of Cane
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2023-07-24 at 12:43 PM UTCThe following users say it would be alright if the author of this post didn't die in a fire!
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2023-07-24 at 12:49 PM UTCthat's funny as hell (as in, i'm jealous and constantly mention doing this) and also wow its crazy how paul wozny stole this idea from you, waht a copier. I'd rather go to your chill sounding establishment "YOUR FINEST LAGER PLEASE!!"
than some uptight berkley night club run by a PSYCHO!!
or sophies satanic baaaa' in hell... WHATS THE DEAL WITH EVERYONE FROM THIS COMMUNITY GOING on "loets, open a bar!" ARCS?!
fuck it, I need to open a church across the street lets mob the block. BAR ARC??? Cheers????
If I'm there I will hitchhike to get there if I must, it sounds like a sacred location probably blessed by indians
lmk if u need that free fax voip hookup FUCK A TCOM BILL
you should also get a classic BBS for your BAR it would be old school and retro and cheap advertising to throw on any site and could DRAW A BUZZ, ฅฅฅฅCHINESE GOLD CAT WAVEฅฅฅ MAY YOU BE GRANTED 7 YEARS OF PROFITS AND GOOD FORTUNES $$$$$88$$777$$$$$$$!!!
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2023-07-24 at 1:52 PM UTC
Originally posted by RIPtotse lol bro my fam has owned an operated bars since the 1970s in my area and just let me say…I've seen many go under while only a few thrive
your not starting from the ground up so that's good. what's your overhead? what's a daily deposit like? [roughly I'm not gonna rob u rofl] and do you have an average of how many customers come daily?
do you want to make money? or just have a place to drink? most successful ..no wait…all successful bar owners I personally know, do NOT hang out/eat/drink in their own establishments. maybe once a year, MAYBE.
God I hate the bar/food game
I have all those figures in my office on the other side of the valley but off the top of my head. I sat down with the owner 2 weeks ago went over the books and got copies. Tomorrow we are getting together for the liquor license transfer application which of course he has to sign off on.
I'm not looking for a bar to hang out at as I rarely go to bars compared to my younger days. If I'm there it will be to take care of business or eat. Besides, I rarely drink more than 4 or 5 beers in a 5 or 6 hour period these days on the 4 or 5 times a month I do imbibe. .
What my primary goals are is giving myself a good reason to not sit in my recliner and grow old while also building some form of generational wealth for my son and his future family.The following users say it would be alright if the author of this post didn't die in a fire! -
2023-07-24 at 2:08 PM UTC
Originally posted by ⋅⋆*$P₳C3☆🐏꒰-■^■꒱v🐑🏴☠️⫷ᔕ🌟ᔕ⫸⚡5H33P⋆°✩🪐 that's funny as hell (as in, i'm jealous and constantly mention doing this) and also wow its crazy how paul wozny stole this idea from you, waht a copier. I'd rather go to your chill sounding establishment "YOUR FINEST LAGER PLEASE!!"
than some uptight berkley night club run by a PSYCHO!!
or sophies satanic baaaa' in hell… WHATS THE DEAL WITH EVERYONE FROM THIS COMMUNITY GOING on "loets, open a bar!" ARCS?!
fuck it, I need to open a church across the street lets mob the block. BAR ARC??? Cheers????
If I'm there I will hitchhike to get there if I must, it sounds like a sacred location probably blessed by indians
lmk if u need that free fax voip hookup FUCK A TCOM BILL
you should also get a classic BBS for your BAR it would be old school and retro and cheap advertising to throw on any site and could DRAW A BUZZ, ฅฅฅฅCHINESE GOLD CAT WAVEฅฅฅ MAY YOU BE GRANTED 7 YEARS OF PROFITS AND GOOD FORTUNES $$$$$88$$777$$$$$$$!!!
It's an eclectic environment. The inside is mostly family dining with a small 8 seat bar. The outside is about 4000 sq ft of concrete with UV resistant custom sunscreen framed tarps with misters about 15 feet high over 90% of the outdoor tables. It also features another bar with about 20 seats, and a covered stage. The total seating capacity is 188.
The outside area is more popular with a large but tight local community of older bikers, cowboys, and blue collar folks who mostly all know one another. I've been hanging out there off abd on since moving here 3 years ago and have yet to see any fights or even friction.
Lastly I have a secret weapon. Some if you may or not recall me mentioning that my girlfriend of the last few years owned the local bar in the valley. Well she sold it early this year. She is going to be partners with me. We have a contract drawn up by an attorney so she can't fuck me or I her. She's been in the business for 30 years and doesn't want to do anything but. She's got all the food manager and liquor certs required by the state. I'm the investor and she is the working partner. All I have to do is support her efforts when needed and jeep an eye on the numbers. That and customer service/relations. -
2023-07-24 at 2:36 PM UTC
Originally posted by Speedy Parker I have all those figures in my office on the other side of the valley but off the top of my head. I sat down with the owner 2 weeks ago went over the books and got copies. Tomorrow we are getting together for the liquor license transfer application which of course he has to sign off on.
I'm not looking for a bar to hang out at as I rarely go to bars compared to my younger days. If I'm there it will be to take care of business or eat. Besides, I rarely drink more than 4 or 5 beers in a 5 or 6 hour period these days on the 4 or 5 times a month I do imbibe. .
What my primary goals are is giving myself a good reason to not sit in my recliner and grow old while also building some form of generational wealth for my son and his future family.
sounds good.
my grandparents on the other side of my family.bought a bar in the country
then my gold digging grandma met this rich retired guy and now he's my.grandpa
lol life
that's a Lotta doe though, 200k..600k -
2023-07-24 at 2:52 PM UTCI had a very brief moment where I was going to be a bar owner...well partial owner. Friend of mine came into a lot of money about 15yrs ago and back then we would drink in the certain bar 3 times a week. Anyway he approached the bar owner about buying it and the bar owner was up for it. Friend came to me and said "I'll give you 20% ownership for free if you will come and manage the bar for me"...we'll obviously I jumped at the chance and said "Hell Yes".
...turned out though that the current owner was fixing the books and claiming the bar was making 3 mil a year...this was a hole in the wall bar and we were in there 3 times and week and knew that was a lie...so the deal fell through and my bar ownership (partial) dreams were thwarted.The following users say it would be alright if the author of this post didn't die in a fire! -
2023-07-24 at 3:04 PM UTCI've been eying this place for a couple of years. 650k sounds like a lot of money. But $3590 a month isn't that much. That doesn't include other costs of course. But here's the kicker. The current owner sticks a 100 dollar bill in his pocket every day for a monthly income of another 3k a month. I don't need that as an income. I get close to 3.7k a month from the VA and starting next May I'll get another 1.k from Social Security as I'm going to take it early at 62. There is 85% of my monthly payment on his note right there.
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2023-07-24 at 3:05 PM UTCIt's sounds pretty reasonable if it's making 250k a month gross. (not to mention the 5 acres and property value)
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2023-07-24 at 3:11 PM UTC
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2023-07-24 at 3:16 PM UTC
Originally posted by Jiggaboo_Johnson It's sounds pretty reasonable if it's making 250k a month gross. (not to mention the 5 acres and property value)
He's paying an average of 7 k a month just in liquor sales tax at a 5.68% rate. That's in the neighborhood of 135k just in booze. Which of course has a higher profit margin than food. I did look at his food cost and most dishes are in the 30٪ range. -
2023-07-24 at 5:21 PM UTCThe more money you make the more the City wants to find a way to tax you. like a Dance Tax or some stupid shit.
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2023-07-24 at 8:23 PM UTC
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2023-07-24 at 10:48 PM UTC
