Should I use a broker to sell my bar?

A bar is a hard business to sell quietly. Regulars talk, staff worry, and a rumour can change how people behave long before a buyer appears. The choice between a broker and a private sale is mostly a choice about who protects that quiet and who does the screening.

Keeping the news from regulars and staff

A listing that names your bar can reach your staff and customers in a day. Ask any broker you interview whether they can market a business without naming it, and whether they have interested people sign a confidentiality agreement before they learn who you are. Ask also how they describe a listing and who sees the name. If you sell privately, you will need to manage that yourself.

Screening buyers who can run late-night trade

Not every enquiry is a buyer who can run a bar. The job means late nights, cash handling, door and staff management, and a licence process the buyer may have to go through. A broker can ask about experience and funds before you give out your financial details. Ask your lawyer about the licensing side, because the rules differ by place and a buyer’s approval is not yours to promise.

Showings outside service hours

Serious buyers will want to see the room, the back of house and the cellar, but also to watch a busy night. Arrange visits before opening and keep a trading-night visit for later, once the buyer has signed and been screened. A broker can schedule and attend these. Privately, you will be doing it between shifts.

What a broker does and does not do

• Prepares the listing, markets it and screens enquiries.
• Helps present your financial information in a form buyers expect.
• Helps manage offers and negotiation, though you decide.
• Does not replace your lawyer or your accountant.

If you want a comparison with restaurants, see should I sell a restaurant through a broker who specialises in restaurants.