Selling Your Wine Bar?
Relatively new to the market, wine bars have not been immune to the recession the restaurant industry has been battling for over a decade. Because of the nature of the business, wine bars are generally required to hire employees of legal drinking age so that they can adequately serve the needs of their customers, and minimum wage expectations rising has caused staffing issues along with the already increasing labor shortage. Maintaining the correct supply of food and beverage through the use of local and national suppliers has become harder than ever. And with the additional requirements for social distancing and basic safe dining for indoors and outdoors, since wine bars are generally considered dine-in establishments, many of these new wine bars that have surfaced are making the difficult decision to close their doors. Often having just come into this industry, the idea of now figuring out how to minimize the financial losses can be overwhelming. In addition to trying to stay afloat in a business you have lost the passion for, you have to take on another full time job – selling the business. And you still have to notify suppliers, employees and customers. With decades of experience, WBAR is ready to put their knowledge and market research to work for you. We’ll give you a fair valuation for your wine bar and pay you CASH, NOW. WBAR will handle all the aspects of disconnecting, dismantling, packaging and moving all of the contents of the wine bar – let us handle all the hard work. You have enough on your hands. Want a FREE valuation for your wine bar? Call WBAR now. We’ll gather some information, pictures and help you prepare a general list of assets in the wine bar, which may include: Refrigeration (Wine refrigerator, bottle chiller, reach-in cooler, deep freezer) Cooking Equipment (Fondue sets, chafing pans, commercial stove, grill) Booth and table sets, high chair and booster seats Small Appliances (wine opener, blender, mixer, can opener) Candles, lamps and lighting, stereo and satellite equipment, cameras and components Smallwares (Glasses, silverware, china, platters, baskets, trays) Any Other Furniture, Fixtures, Equipment & Supplies We will review all of the information received and contact you with your free, no-obligation CASH offer. Once the offer has been accepted and proper documents signed our team will take care of everything – you just have to sign the check. Still owe on your equipment? Leases? Multiple owners? Franchise agreements? Outstanding debt? IT DOESN’T MATTER. We can help. CALL NOW!! We Know the Wine Bar Business Popular since the 1990’s, wine bars are found in regions across the world. Brought to the United States in the 1980’s, wine bars were not well received until they found increased popularity in American metropolitan neighborhoods in the early 2000’s. Finding the proper location is key in running a successful wine bar, and using local wines and flavors can increase your following in the local neighborhood you have selected. You will find a very loyal following in the wine bar business. Many wine clubs and the like can be found online and also in local wine bars. The ambiance of a wine bar differs greatly from many other food establishments. Reduced lighting, soft music and hushed tones are usually the atmosphere. Offering a non-smoking section should still be considered, although some wine bars where allowed often are found to offer specialty cigars for their patrons as well. The average cost to open a wine bar in America is at least $325,.000.00. When opening a brand new wine bar you should expect at least 2 full years to pass before a profit is shown, possibly longer, so it is important a wine bar owner prepares for this in advance to avoid financial disaster. Most wine bars are independently owned and operated, with the owner generally on-site part-time and relying on a solid manager to handle the day to day operations when he is not in the wine bar. Originally, wine bars were focused solely on offering a variety of flavors, brands, types and qualities of different wines. Light appetizers or hors d’oeuvres served during happy hour to compliment the daily or seasonal wine offerings were popular. Recently, wine bars have been branching out and serving a more extensive menu, usually with a multitude of tasty gourmet dishes and treats. Instead of visiting the local wine bar in an effort to sample a number of different wines to ultimately purchase a bottle for home consumption, wine bars are now becoming very popular hangouts for date nights, business meetings, Sunday brunches and even rehearsal and birthday dinners. It is estimated that for every 1,000 wine bars that open, only 30 will remain open after 5 years, with a whopping 900 of those closing within the first year. If you are considering selling your wine bar, you understand the market. It is best to sell fast - sell NOW - before thousands of other similar restaurants flood the market, devaluing your investment right alongside the daily depreciation factors. Stop struggling to earn a living, and start living! Call WBAR NOW for your FREE valuation.
