Purchasing Pubs and Bars in Montreal
Pub or bar is a drinking establishment and in today’s world a well renowned business in many countries because of it’s heavy revenues that their owners earn from the business. The reason behind this strong revenue generation is that the customers never stop coming in the bars and pubs whether it’s summer or winter because now it has become a part of culture in many countries.
This strong demand was also observed in Montreal, Canada. So the ones who wish to start their business have some good opportunities to acquire a running pub or bar in the region. Below are the steps through which you will learn how one can search pubs for sale in Montreal, make offer, prepare documents and buy the pub for best price.
Instructions
-
1
In order to purchase a Pub or Bar Business in Montreal you first need to determine how much money you have or how much money you are ready to put in this business.
-
2
Once you figured out the amount of money you are ready to put in this business the next step would be to begin your search to find a Pubs & Bars Businesses that can come in your budget.
This search can be done through two ways:
(Option a). You can either go to a reputed dealer or broker, who will put the available offers in front of you, if he doesn't have any deal then, he will find some for you. The broker or dealer provides these services to their customers in exchange for a percentage in the deal.
Here are the names of some reputed business brokers in Montreal.
1. Mahmoud H. Hussein, Sunbelt Business Brokers,
Address: 352 Dorval Ave Bureau 207 Dorval,
Tel: + 1 514-694-0554 x 7,
Fax: +1 514-694-0554,
Website: Click here.
2. Mehram Moallem, Bounded Business Brokers,
Address: 2808 Kingsway Vancouver, BC, Canada,
Tel: +1 778-858-9025,
Fax: +1 604-469-9919,
Website: Click here.
3. Mike Chisholm, Chisholm Associates,
Address: 2680 Matheson Blvd. East, Ste. 102 Mississauga, ON L4W 0A5,
Tel: +1 905-602-6243,
Website: Click here.
(Option b). If you are not satisfied to have the services of a dealer or broker then, you have a second option to search real estate related websites in order to purchase a pub or bar business in Montreal. Below is the list of such websites.
Visit Merger Networks Website
Visit Business For Sale Website
Visit Business Smart Website
-
3
Before you should choose the best business from the listing, you need to keep these requirements in your mind to have the best deal.
(a). Firstly the price of the business should match your budget.
(b). Check the revenue of the bar or pub business in that area, in order to know what you can earn after meeting all the expenses and taxes. More importantly, you need to check the accounts yourself in order to make sure that revenues projected by the vendor are genuine.
(c). Thirdly, the location of the business that you are planning to buy should be prime. Because businesses like pubs and bars depends a lot on it’s locality, when it comes to boost the sales.
(d). Then, you should know about the occupied area of that pub and bar business.
(e). You should also be familiar with the history of the place that you are about to buy. And most importantly the business holds a good repute among the local community.
(f). The strength of the staff and their salaries should also be in your knowledge.
(g). You should also know the range of the beverages and food items that the bar or pub serves. This is important to have the knowledge of these things, so you can find out which area of products requires improvement.
(h). Car parking space is an important factors to avoid parking issues.
(i). Lastly which type of customers usually come in the pub or bar to eat and drink.
-
4
Once you have went through all these points, then you have to bid for the best option that is available to you in Montreal.
-
5
It is not necessary that the price which vendor had demanded for his pub or bar is non-negotiable. Therefore, you should negotiate the price in a way that vendor should feel that this is the best offer he is going to get for his pub or bar.
-
6
Once you reached a deal with the vendor then, documents will be prepared for the purchase, here you will require the assistance of a lawyer, who will guide you through the legal process.
-
7
After filling out the necessary documents you will made some advance payment to the vendor and rest of the amount will be wired or transferred to the seller when he’ll give you the possession of the pub or bar.
