Bars For Sale Tucson Arizona: The 3 Top Things To Consider
Unless you’ve owned a bar previously, we suggest that you complete the Buyer’s section on this website in order to determined if your skills and experience could be a good match for becoming a bar owner.
The Three most important factors to consider when looking at bars for sale in Tucson Arizona are the following:
Location is of paramount importance. As you explore bars for sale in Tucson in different locations around town, take careful note about the general attractiveness of the area, the presence of competitors, and the availability of parking. A great location should bring more traffic flow and visibility, but is also likely to bring more competition. Competition is not necessarily a bad thing, but it will likely require you to be more active in keeping your offering up to date, and more aggressive in the area of marketing.
Lease terms and options for renewal are critical as well. Building a bar business and establishing a regular clientele takes time, and is not very portable should you be required to move to another location as a result of inability to extend a lease. Additionally, ensuring that your renewal options will allow you to keep the cost of occupancy in the 6-10% range as a percentage of gross sales is a critical metric for ensuring that this fundamental lever of profitability is under control. If you’re looking at Tucson bars for sale, focus on the details of the lease.
Liquor Licenses are hard to come by these days. Most communities have placed a cap on the number of licenses they will issue, and generally these caps have already been reached. As a result, buyers wishing to get into the bar business generally must purchase an existing business in order to gain access to a license. The license, therefore, has strong residual value and is a saleable asset on its own that makes up a part of the purchase price. Investigate the value of a liquor license for any bar for sale in Tucson to make sure you comprehend this component of price, as well being sure to clarify the type of liquor license included and whatever restrictions may be placed on it. Not all licenses are created equal.
While location, lease and licenses are the three most important considerations when buying a bar, there are many more aspects of a successful bar operation that you will need to delve a bit deeper for during due diligence in order to develop a complete picture about any bar you may be looking it. To read more about things you should consider when looking at bars for sale in Tucson, Click Here.
Keep in mind that not all businesses available for sale in Tucson are actually listed for sale. As licensed Arizona business brokers with a large network of local, regional and national business relationships, Allen & Young have access to many confidential business for sale listings in Tucson and Southern Arizona, and beyond, as well as access to powerful database and research tools. In other words, if you don’t find the bar you’re looking for listed on the market for sale, that’s one more reason to Contact Us. We can help you find it.
If you’d like more information on this subject, please Contact Us.