Listing ID: 83250

Business Overview

Great local bar with opportunities for various types of entertainment from live music to Karaoke, etc. Liquor license included if you purchase the LLC the license allows extended hours of operation.
This bar has all the licenses needed, a local following to build on, a desirable location, and the opportunity to expand with a format to your business platform.
The clubs Main Features include Beer and Wine, Full Bar, Couple Friendly, Snacks / Buffet, Pool, DJ, VIP Room. Clubs like this usually have a heavy cash total from door fees and tips.
The club was established in 2009 and accepts Visa, MasterCard, American Express.

Financial

  • Asking Price: $100,000
  • Cash Flow: $47,000
  • Gross Revenue: $85,000
  • EBITDA: N/A
  • FF&E: $6,000
  • Inventory: $4,500
  • Inventory Included: Yes
  • Established: 2006

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:11
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

the building is 2865sf and owned by seller. it is available for sale from the owner or a local realtor - estimate the price at $199,000. The bar is 30 feet long, price includes chairs, tables, VIP room furniture, Three (3) restrooms available.

Is Support & Training Included:

owner will provide training as agreed to in a purchase agreement

Purpose For Selling:

retiring

Pros and Cons:

As with any bar, competition depends on who you are marketing too, this is a great local bar that you can make your own attraction niche.

Opportunities and Growth:

Your club, you set the path to expand - Pre-Covid hours open every day, not open for lunch. From the seller: they shut us down from mid march to mid may. Those 2 months there was zero income. Then in August and September, we had to close at 11pm. Since we are a late night bar, that hurt our income too. Right now, we are required to run at 50% capacity and employees (bartender and security) must wear masks. I am hopeful the vaccine will solve our problems in the new year..

Additional Info

The business was started in 2006, making the business 16 years old.
The deal shall include inventory valued at $4,500, which is included in the listing price.

Why is the Current Owner Selling The Business?

There are all types of reasons individuals decide to sell operating businesses. However, the real factor vs the one they tell you may be 2 absolutely different things. As an example, they may say "I have way too many other commitments" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these may simply be reasons to try to hide the reality of changing demographics, increased competition, recent reduction in earnings, or a variety of other reasons. This is why it is extremely important that you not rely completely on a vendor's word, yet rather, make use of the seller's response in conjunction with your total due diligence. This will repaint an extra sensible picture of the business's existing circumstance.

Existing Debts and Future Obligations

If the existing company is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Lots of businesses borrow money with the purpose of covering points such as supplies, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can suggest that revenue margins are too small. Numerous organisations fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future obligations to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that must be met or might result in charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the area draw in new clients? Many times, companies have repeat consumers, which form the core of their day-to-day revenues. Certain aspects such as brand-new competitors growing up around the area, road building and construction, and also staff turn over can influence repeat customers as well as negatively affect future profits. One important point to take into consideration is the placement of the business. Is it in a very 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 opportunity to build a returning consumer base. A final idea is the general area demographics. Is the business located in a densely populated city, or is it situated on the outside border of town? Exactly how might the neighborhood median home earnings impact future earnings prospects?