I know what I said !!!

That I was all done with any more "Big Projects" .
But now something has come up that I think is too juicy to pass up .


I may be buying a old steakhouse and turning it into a old fashion "Roadhouse" . Peanut shells and Saw dust on the floors and a live band every weekend . It would be the only Bar in a 65 mile radius .
I would not run or manage it . I have someone in mind for that . Anyone here on FF own a bar ??

I am not worried even a little bit about it making damn good money but more of the hassles I might encounter as a bar owner .
Suggestions ???

You may as well sell the Panama place!

Al's Steaks, Nuts and Dust
Has a ring to it, no?

Owning a bar is like having a herd of Milk Cows All Work and no Play. Check with your insurance carrier first Gram shoppe insurance can kill you

The only way to make money in the restaurant business is by not declaring as much as possible.

Also, if you aren't closely managing the books then you better really trust whoever is.

PBinWA said:

The only way to make money in the restaurant business is by not declaring as much as possible.

Click to expand...

No restaurant . Just a bar / dance hall with maybe a few bar food items like Peanuts , popcorn , Hot wings etc.

PBinWA said:

Also, if you aren't closely managing the books then you better really trust whoever is.

Click to expand...

The guy who would oversee the daily operation has a Masters Degree in Accounting and my best friend . AS of now he is just getting ready to retire from as a main officer with a Fortune 500 company . I would and have trusted him with my life .

Looks like a existing liquior lic. is in the $100,000. dollar range .
I believe I could get a new one for much less .

I guess tomorrow will decide which way I will go .

Here in MN the no indoor smoking law absolutely killed rural bars & roadhouses.

No money to pay good bands, brand support may underwrite one party per year.

If you add food that adds a whole nother regulatory layer and perishable inventory.

It's easy to spend a bunch on a good looking sports bar but a suspended liquor license will put you at the mercy of another license holder to recover your investment.

After spending the last 3 weeks trying to come to a "Cash Deal " on a "AS is" foreclosed building in town and turn it into a "Road House / Honkytonk the bank decided to sale it to another person with zero credit . Sold at 3 times what my first "All Cash" offer was ! The person somehow talked the bank into carrying the paper ....again..... on the promise she would pay off the whole sum in 2 months .

I know this person . Ain't no way in Hell she can do it .

Here's why :

1. No reserve funds to strip the building to the frame to get the dog shit smell out of it ( Old owner kept his dogs in it for 6 months and they shit all over the wood floors ). You really think anyone will drink a beer in a dog shit smelling room ??

2. No funds to buy or stock a inventory or product .Thinks she can get it all on credit .

3. Never ran a business in her life.

4. They are going for a Hard liquior lic. that is not available in our area. Beer and wine only .

5. It will cost twice as much to get the door open just to have a business there .The place is a disaster and needs major work . All plumbing is busted from freezing and wiring was stripped out for the copper

6. She has a criminal record and could not qualify for any type of liquoir license anyway . She should have done her homework .


I think in about 6 months I will be picking this building up from the bank really, really cheap .
That actually works better for me as I still have a pretty full plate of work to finish up my other building .



The part that really pisses me off is I know this lady will piss and moan to anyone and everyone on how she was done wrong by the bank when it all falls apart . I am really surprized the bank even went for her bullshit .

Sounds like you will get the last laugh when you buy it from the damn Banker you offered to buy it from....

Regards, Kirk

Heck Al, some of the upgrades she does while on credit will be your gain. It might even be a sweeter deal for you and I bet when it fails they might come to you and you can say I had a an offer once before. I am not as interested but for anything more than 60% of what I offered you in the first place.