jaxxstar, our community is filled with business people who are always happy to share their ideas and creative solutions. I'm sure you have discussed your dream of owning a bar with your friend and maybe even talked about what he would sell it to you for. Would he be willing to be a silent partner and let you do the work and take some of the profits as payment on the bar? Would you, if you were in his place?
I think you have really answered your own question in your post. It takes quite a bit of money and resources to own a bar and until you have these in your pocket, you may not be able to move forward with your dream.
Does anyone else have any suggestions to assist jaxxstar?
Cath, I like your idea of his friend being a "silent partner"
Another idea along the same idea is that the friend sell Jax the business
with the friend holding "notes" for the purchase price.
Yes the present owner will need a lawyer to write the contract and
he will also be getting a monthly check.
I was wondering if anyone could help me. I am trying to buy a bar from a friend of mine. The problem is I have little money to begin with and not the best of credit. It is what I have always wanted to do, growing up in a bar as my grandparents owned one, and my mother ran bars for most of my life, my wife has also managed one before becoming a rn. The problem is I have very little money and no resources to get any. Any help?