Can anyone give me4 information on buying a preowned bar in a small neighborhood. We (my husband and I) was sitting at a bar and the owner stated that he was thinking about selling it the bar. We have no experience of owner a bar but have both had our own businesses in the past.the area looks promising there is potenial there. We are really considering it as a way to earn extra money. Where should we get started?

Don't forget about the liability issues. If you serve alcohol and a person does something after they leave, drive drunk, get in an accident and kill someone, you could be liable.

It is a huge risk and the insurance is extremely expensive. That is just one risk. Consider anyone at the bar being hurt, getting sick or just falling off a stool.

Before you count the cash from such a lucritive business, consider why the owner is selling it.