Taking over existing bar

bargal

I am very interested in taking over an existing bar. The owners are selling to retire and I like the location and the price is fair. What are my next steps in moving forward? I myself do not have the funds to just buy the business. They have a rent to own option but I am unclear about how that all works. Any light on the subject would be appreciated.

bargal

Bar Topic Answers

mpenna

Hello, one option Is to see if the owner lets you put your name on the bank account and on the business license before he sells, then you can take out an unsecured loan to buy the business and then the owner can remove his name from the business license. If you want to find out how to do this, please contact me right away.