What Cheers Can Teach You about Buying a Bar
Do you remember the old TV series Cheers? It ran for eleven seasons from 1982 to 1993. The cast included Kelsey Grammer who eventually spun off his own TV show (Frasier) and Kirstie Alley. Ted Danson starred as the bartender. The most memorable part of the TV show however was the theme song. The lyrics went like this.
Making your way in the world today takes everything you've got.
Taking a break from all your worries, sure would help a lot.
Wouldn't you like to get away?
Sometimes you want to go Where everybody knows your name, and they're always glad you came.
You wanna be where you can see, our troubles are all the same
You wanna be where everybody knows Your name.
You wanna go where people know, people are all the same,
You wanna go where everybody knows your name
Those words ring more true today than ever before. In our social media driven, electronic world where text and email take center stage, personal interaction seems to be the last way people actually communicate. It’s no wonder those in the market for buying a bar thirst for a place “where everyone knows your name.”
The neighborhood bar has become the last refuge of personal contact. It’s still the community gathering spot. What this kind of bar for sale doesn’t do in huge volume, they make up for in loyal customers. Huge mega bars aren’t the ones turning the biggest profits. Instead, the small intimate bar that keeps the right selection on tap and the bartender remembers your order have been thriving in the recent economic downturn.
Only in the neighborhood bar is the owner someone that asks after your wife and kids. It’s only in the neighborhood bar that a group of men that have nothing in common except a seat at the same bar stool can become lifelong friends after a few weeks of tipping a cocktail back and saying hello over a well-worn counter that has seen better days.
Cheers can teach you this about buying a bar. Don’t think big and don’t ignore the small but profitable. Lastly, look close to home when making a purchase.
Want a blast from the past? Click to listen to the full song along with subtitles.
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Eric and Robin Gagnon are founders of We Sell Restaurants, a national restaurant brokerage franchise. These industry experts are also authors of Appetite for Acquisition, full of advice and tips for Buying a Restaurant and winner of the 2012 Small Business Book Award. Described as "the definitive guide for anyone looking to enter the restaurant industry!" readers finish this book knowing how to acquire a restaurant in a way that is less painful, more profitable, and delivers a better return on investment. Visit our restaurants for sale online at www.wesellrestaurants.com
