Listing ID: 80906
Business Overview
Popular local bar with gaming and pool tables is available for sale. Owners currently work minimal hours daily. Owners are retiring and there is a lot of potential for a new owner. The area is growing rapidly, with a mix of new construction apartments and single-family housing. There is little competition in the immediate area. There is plenty of potential to grow this business by updating the existing kitchen space (existing grease trap and commercial sinks that are not currently being used), or open additional hours.
Locally, the Reno, Sparks, and Carson City area has a small town feel with a big city attitude. The city offers excellent shopping and dining options, robust nightlife offerings, high-performance schools, including a Tier 1 University with over 25,000 students—and is just a half hour from beautiful Lake Tahoe.
From a Business perspective, Northern Nevada is highly regarded as a pro-business, low-tax environment that appeals to a wide range of business and industry. With no personal, corporate, franchise, estate, inheritance, or inventory tax, it’s no wonder that Nevada ranks #7 Most Business-Friendly Tax Climate.
Financial
- Asking Price: $399,000
- Cash Flow: $187,789
- Gross Revenue: $601,707
- EBITDA: N/A
- FF&E: N/A
- Inventory: $14,000
- Inventory Included: Yes
- Established: 1991
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Leased, January-Dec 2022 ($4,320 + $1,511 CAM); 2023 ($4,428+CAM); 2024 ($4,538 + CAM; 2025 ($4,674+CAM); 2026 ($4,838 + CAM)
Negotiable
Retirement
Business has very loyal gamers (slot play)
The area is rapidly growing – lots of opportunities to appeal to the new people moving here. New owners could create a bona fide website as well as create a media presence to get more customers. This is the perfect local neighborhood bar – locals are loyal and out-of-towners are often repeat visitors. There is kitchen space potential with existing grease traps, but not currently being used.
Additional Info
The business was founded in 1991, making the business 31 years old.
The sale does include inventory valued at $14,000, which is included in the asking price.
The building is leased by the business for $4,320 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell companies. Nevertheless, the real factor vs the one they say to you might be 2 entirely different things. For instance, they may claim "I have way too many other commitments" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these might simply be justifications to try to hide the reality of altering demographics, increased competition, current decrease in revenues, or a range of various other reasons. This is why it is very important that you not count absolutely on a seller's word, however rather, make use of the seller's response along with your general due diligence. This will paint a more realistic picture of the business's current circumstance.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your deal. Many companies borrow money with the purpose of covering points like supplies, payroll, accounts payable, so on and so forth. Remember that sometimes this can indicate that earnings margins are too small. Numerous companies come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that have to be met or might result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location draw in new customers? Most times, businesses have repeat clients, which develop the core of their daily revenues. Specific factors such as brand-new competition sprouting up around the location, road construction, and employee turn over can affect repeat clients and also negatively influence future profits. One crucial thing to consider is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the main road? Obviously, the more individuals that see the business on a regular basis, the greater the chance to construct a returning client base. A last thought is the general area demographics. Is the business situated in a densely populated city, or is it situated on the outside border of town? Just how might the neighborhood typical family earnings influence future earnings prospects?
