Cafe, Bar & Lounge- Outstanding Opportunity in Prime Location

This Listing is Closed

Business
  • Listing# : 14776
  • Listed Price : $79,000
  • Total Sales : $206,137
  • SIC : 58130103
  • Down Payment : $79,000
  • Status : Closed
  • Discretionary Earnings : $121,266

Business Type :

Alcohol Related / Cocktail Lounges

Business Description :

This is a unique intimate, modern lounge offering cocktails, beer and a light food menu in a low-lit, chill setting. Live entertainment is also featured in the form of a DJ and live bands performing old school Funk, Jazz, R&B and Reggae. The location is excellent as it is near several residential communities and is conveniently located within walking distance of a high concentration of businesses. And, there are no other restaurants or bars in the area that offer a similar combination of food, drink and entertainment. The business appeals to the local adult population in every age group.

The owner opened the business in July, 2017 and is selling because  of increased family responsibilities, and he currently owns and manages one other business. He has reduced the sale price well below market value as he needs to sell this business soon to devote his time to family and his other business. Despite the owner's limited time invested in the business, it is becoming increasing popular. Discretionary earnings increased from $89K to $121K, and annual sales increased from $167K to $206K in 2019. 2020 sales and discretionary earnings are being impacted by COVID-19, and year-end financial results will probably be below the totals for 2019.

Assets/Liabilities:

    • Accounts Receivable $0
    • Incl :
    • Real Estate $0
    • Incl :
    • Inventory $3,500
    • Incl : Yes
    • Liabilities $0
    • Incl :
    • FF&E $130,000
    • Incl : Yes
    • Other: $0
    • Incl :
    • Leasehold $0
    • Incl :
    • Total Assets $133,500
    • Incl : Yes

Lender Prequalified: No

Similar Listing :

Alcohol Related
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