Listing ID: 81281
ABSENTEE OWNER! BELOW MARKET RENT! Premier sports bar featuring multiple beers on draft, advanced keg system, commercial kitchen, high-level A/V system, private event space, and spacious pet-friendly patio! Attached to a substantial sized hotel with growth opportunities in providing room service. Sporting events for Golden Knights, UFC, NFL & more! Live entertainment includes open mic and karaoke in private event space with full PA system, speakers & mixing board. Tremendous potential to increase revenues with active operator. Location does not and cannot have gaming. Seller forecasts Gross Sales for 2022 will exceed $1,000,000 and generate $300,000 or more in profit! Gross Sales & Total Income listed are estimated for 2021 based on 2021 P&L through October including simple add backs. EMAIL NOW before it is gone! For the fastest reply to your inquiry, please use this ad’s email reply or contact Business Broker Edward Smith (RE# BS.0038345.PC; Business Broker Permit# BBP.0000005) at 702-274-7320 or email firstname.lastname@example.org.
- Asking Price: $199,000
- Cash Flow: $147,553
- Gross Revenue: $646,468
- EBITDA: N/A
- FF&E: $150,000
- Inventory: $15,000
- Inventory Included: Yes
- Established: 2017
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:4,000
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
This is a leased location of approx. 4,000 square feet with a Total Monthly Rent of $5,375. Lease ends 2027 with One 5 year option. Seller is absentee with 1 FT and 12 PT employees. Hours of operation are 11am-10pm 7 days a week. $15,000 in Inventory and $150,000 in FF&E included in asking price. $250,000 made in Leasehold Improvements. Liquor License required. Turn-key profitable bar with new modern trendy interior, busy main street frontage, spacious patio & attached to large hotel!
Other business interests
The business was started in 2017, making the business 5 years old.
The transaction will include inventory valued at $15,000, which is included in the requested price.
The business has 1 FT, 12 PT employees and is located in a building with disclosed square footage of 4,000 sq ft.
The building is leased by the company for $5,375 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell operating businesses. Nevertheless, the real reason vs the one they tell you might be 2 entirely different things. For instance, they may state "I have too many various obligations" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these may just be excuses to try to conceal the reality of changing demographics, increased competitors, recent reduction in earnings, or an array of various other reasons. This is why it is really important that you not count entirely on a seller's word, however instead, make use of the seller's solution combined with your general due diligence. This will repaint a more realistic picture of the business's existing scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your offer. Many companies finance loans with the purpose of covering items like stock, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can imply that earnings margins are too tight. Many organisations fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may also be future obligations to consider. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that need to be satisfied or might result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area attract brand-new consumers? Most times, operating businesses have repeat clients, which create the core of their everyday revenues. Certain variables such as brand-new competitors growing up around the location, road construction, as well as employee turn over can impact repeat clients and adversely impact future revenues. One important point to consider is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Clearly, the more people that see the business on a regular basis, the higher the opportunity to build a returning consumer base. A final idea is the basic location demographics. Is the business situated in a largely inhabited city, or is it situated on the edge of town? Just how might the local typical home income impact future income prospects?