Bar With Music, Dancing & Entertainment
Location California,United States
Asking Price Range < $250K
Gross Revenues $182000
Net Profit / Cash Flow $20000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1970
Number of Employees 4 - 5
Inventory 2000
Relocatable Not Disclosed
Number of Employees 4 - 5
Real Estate Leased
Training 2 weeks at 20 hours/week
Reason for Sale Other business ventures
Description This Calexico, Imperial County Bar is able to offer full liquor and is not required to provide food service. The venue is permitted for entertainment, karaoke, dance, live music and liquor service until 2 am. This absentee owned bar has been established for over 40 years. The Seller has several other business interests that prevent him from directly overseeing the venue, or promoting it so that it may achieve its full potential. Monthly sales had historically ranged between $10,000 and $15,000. The current lease is below $1.00 per square foot.
Asking Price $130,000.
The business operates from a 3,000 square foot facility that leases for $2,500 per month on a lease that includes water and electricity. The buyer will be able to negotiate a new long-term lease with the landlord with the landlord. The sale includes all of the business assets including its furniture, fixtures, equipment, name, signage, Type 48 Liquor License, and $2,000 of inventory valued at cost.
Competition is considered to be extraordinarily low as few other bars without food service required exist in Calexico that are permitted for dance and entertainment.
This business has significant growth potential. As the owner is barely engaged in the business, a working owner could likely significantly improve customer service, while also focusing on marketing and promoting the venue as this has been virtually non-existent. New management may wish to book bands, disc jockeys (DJs), other forms of entertainment (e.g. karaoke), or have themed dance nights or events. They may also evaluate an opportunity to expand into the adjacent kitchen if they are interested in increasing top line revenues by providing food service or coupling the cocktail lounge with a restaurant offering.
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