mrhmatt
09-16-2009, 02:03 PM
I've been coming to this site for while but just registered. It has always been a dream of mine to own my own bar but I'm not financially ready.
A guy I know is buying a bar from his grandfather. As far as I know he is supposed to be making monthly payments to his grandfather. The grandfather built this plain block building on 10 acres in the early 80's. The bar is outside a 15,000 pop. town, 25 mins from a 750,000 pop. city, and 20 mins from a 80,000 pop. city.
The bar has never really made any money since it opened because it is as basic as it gets and there is no draw. No stage, block walls, lots of smoke (bad), kind of run down, no credit cards, no tap beer. Since the grandson took it over he cleaned it up a little. He installed a fence around a 3/4 acre area but nothing out there, brought in an atm.
Now he is having a tough time making the payments to his grandfather. He wants me to help. I have a lot of ideas but they all take money. Some of my ideas are wainscot the inside with barn siding, install a garage door to the fenced in area, nice outdoor stage, wood floors, volleyball courts, a lot others. He needs a draw for this place and what I have planned will cost $12,000-$15,000. Should I advise to get a loan. I said if he buys material I will do the work for free.
This bar could be the bar anyone has ever gone to.
A guy I know is buying a bar from his grandfather. As far as I know he is supposed to be making monthly payments to his grandfather. The grandfather built this plain block building on 10 acres in the early 80's. The bar is outside a 15,000 pop. town, 25 mins from a 750,000 pop. city, and 20 mins from a 80,000 pop. city.
The bar has never really made any money since it opened because it is as basic as it gets and there is no draw. No stage, block walls, lots of smoke (bad), kind of run down, no credit cards, no tap beer. Since the grandson took it over he cleaned it up a little. He installed a fence around a 3/4 acre area but nothing out there, brought in an atm.
Now he is having a tough time making the payments to his grandfather. He wants me to help. I have a lot of ideas but they all take money. Some of my ideas are wainscot the inside with barn siding, install a garage door to the fenced in area, nice outdoor stage, wood floors, volleyball courts, a lot others. He needs a draw for this place and what I have planned will cost $12,000-$15,000. Should I advise to get a loan. I said if he buys material I will do the work for free.
This bar could be the bar anyone has ever gone to.