EXAMPLE TEACHING JOB LETTER

Confidentiality – The worst part about selling a bar is that, it can have a negative effect on the bar, once it is made public that the bar is for sale. The employees, competitors, customers will start drifting and in turn destroy the placing of the bar, lessening the value.

We also need to talk about how confidentiality needs to be maintained. Limited information should be given to the potential buyer, until it is determined that the buyer is legitimate and genuine. Asking the buyer to sign a non-disclosure agreement is a must.

After signing of the non-disclosure agreement, the buyer can be given the other confidential information regarding finances and operations.

1. Establishing the worth – The worth of a bar must be made known to the buyer. For this, the first step is to get everything evaluated. It helps to seek the help of an experienced evaluation expert. This is a must not only for the seller to fix a price on the business but also for the buyer to understand and appreciate the value of the bar.
2. Terms of sale – Pricing is not the only factor that needs to be taken into consideration when selling a bar. The current financial situation and the health of the bar are factors that will also influence the sale. Another important aspect is how the payment would be made, a complete cash deal or offering seller financing, the involvement (if any) of the seller in the bar business after the sale is made and the ownership transferred. Mutually agreeable terms can be arrived at after discussions.
3. Some buyers may wish to get the seller to finance all or part of the sale. Seller financing usually gets the seller a better deal.

Recasting financial statements – This means checking the financial statements to avoid showing that less income was portrayed to avoid taxes, engaging in any illegal transactions that may effect the bar business, or having shifted some personal expenses to the bar. Adjustments in the balance sheet and income statement should be done if needed.

Advertising - The most crucial step in selling a bar business or any other business for that matter is advertising. Targeting an active network of buyers is important to reach qualified prospects with capacity to acquire the bar business for sale. Identifying and screening to evaluate the financial strength of the buyer is extremely important.

With all these things done, one cannot go wrong in selling their bar business to the best buyer and be happy in the knowledge that their business is still in good hands.

Running a bar can be a thrilling experience, but it takes a lot of knowledge to sell a bar. Buyers expect a lot of information to ensure things are in order.