How do I get my bar’s records ready to sell?
Gather your sales reports split by food and drink, inventory counts, supplier and draught-line agreements, staff roster, events calendar and lease with any landlord consents. A buyer will ask for all of it, and having it organized before you list makes the process faster and calmer.
Buyers of bars ask for the same papers again and again. If you collect them before you list, you answer quickly and look organized, and your own accountant has time to catch mistakes. Start months ahead if you can. Missing documents can slow a sale, so gather them before the first buyer asks.
Sales and cost records
Pull your point-of-sale reports and split them into food and drink. Buyers want to see what each side contributes, and which nights and seasons carry the room. Add your inventory counts and how you track pour cost. If the reports and the books do not agree, find out why now. Your accountant can help you reconcile them.
Suppliers, equipment and the lease
Collect your supplier agreements, including any draught-line arrangement, and a list of equipment showing what you own and what is leased or loaned. Find your lease and any landlord consents. A buyer will want to know how long the lease runs and what the landlord must approve. This page on lease renewals before selling covers that conversation.
Staff and events
Prepare a staff roster with roles, schedules and start dates, kept private until the right moment. Add your events calendar: trivia, live music, sports nights, private bookings, and what each brings in. A buyer weighing the regulars will look hard at this. See how a buyer checks a pub’s regulars and event nights to understand their side.
Related reading
15 pages on the same subject, grouped by topic.
Selling
- Expert answerShould I use a broker to sell my bar?
- GuideSelling a bar and pub in Canada
- Expert answerHow do I handle a lease renewal before selling?
- Expert answerDo I need key employees on side before planning my exit?
- Expert answerHow do I sell a nightclub?
- Expert answerHow do I get a fence company’s open quotes ready for a buyer?
- Expert answerWhat records should a payroll service owner gather before talking to buyers?
Buying
- Expert answerHow can I verify a bar’s sales before buying it?
- Expert answerHow do I check a pub’s regulars and event nights before buying?
- Expert answerHow do I check a pub’s draught system and kitchen before buying?
- Expert answerDoes a liquor licence transfer when you buy a bar or restaurant?
- Expert answerHow can I tell if a bar is profitable before I buy it?
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernment7 steps to increase your business’ value—before you sell it
- 02Business Development Bank of CanadaGovernmentHow to Find the Right Buyer for Your Business
- 03Business Development Bank of CanadaGovernmentWhat are financial statements?
- 04Business Development Bank of CanadaGovernment13 terms you need to understand before signing your commercial real estate lease
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