Bar - New Build-Out & Great Lease
Location California,United States
Asking Price Range < $250K
Gross Revenues $254550
Net Profit / Cash Flow $78402
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2014
Number of Employees 4 - 5
Relocatable No
Number of Employees 4 - 5
Real Estate Leased
Training 2 weeks at 20 hours/week
Reason for Sale Personal
Description This Redlands bar with liquor, billiards and juke box boasts a brand new, ultra clean build-out with a great $1 per square foot lease rate, and excellent freeway access and visibility. The new venue is still developing its client base, but is most popular in the later afternoon to early evening time frame, leaving plenty of opportunity to implement and promote nighttime offerings to further increase business. The bar is currently absentee run, but would tremendously benefit from a personable working owner.
Asking Price $119,500
This 1,500 square foot bar leases for $1,500 per month (increasing to $1,700 in 2015) on a lease expiring January 2019 and one 5 year option. All of the business's furniture, fixtures, equipment and Type 48 Liquor License will be included in the sale, with the exception of video games, billiards and the juke box. Approximately $5,000 in inventory will be sold at cost at close. The venue does not have a hood or offer food.
This new bar has a few different types of competition, but it still developing a loyal following. It enjoys a mature daytime crowd from 2 pm to 6 pm, which is typically comprised of local blue collar workers visiting after a long day, or an evening crowd that is made up of younger neighborhood locals.
This business would dramatically benefit from a full-time working owner who is familiar with the bar industry and can manage the cash involved with the business, implement events and promotions, and ensure the venue develops and caters to a loyal customer base. A new owner may wish to launch a website with promotional offerings, engage in Facebook marketing, and implement specials as well themed entertainment nights via showcasing pay per view offerings or hosting special events. They may also consider limited food service that does not require a hood.
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