Tips on the buying process of a bar

[wants to own]

Hi I have been thinking about buying a very well established bar in my hometown for about a year and I'am really starting to feel the itch to dive in and do it. But I 'am not 100% sure of the way to go about buying it. The owner has had cancer for the last 2 years and he has stated if the right person came with the right amount of money he would sell. I have a good job now but it just does not seem to be the right one for me. I was hoping you guys would have some advice or any suggestions on how to go about it. like I said the bar is a very popular hang out for the students at the local university and is also well liked by the wealthy people in town. A plus is it has an upstairs apartment and a basement that could be used for a dance floor or for games. I would really appricate any help.


Thanks

[David]

I guess that you can have a realtor do an appraisal on the business.

I would need more info. Like what their last three years receipts where. Has their business increased or decreased?

Try posting again with a little more info. Just don't post the town, somebody might buy it out from under you.