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Absentee Nightclub - High Profits & Longevity
Location California,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $1500000
Net Profit / Cash Flow $500000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2005
Number of Employees 10 - 19
Inventory Equip approx $120k included. Inventory approx $18k not incl.
Relocatable No
Number of Employees 10 - 19
Real Estate Leased
Training Very little needed since absentee, but as much as wanted.
Description Very profitable nightclub for sale - established in 2005. Future competition is very unlikely so this business should be around for many years. Tight controls make absentee ownership easy. Very little attention needed by owner. Excellent long-term employees and management. Verifiable income.
This is an up-scale nightclub with a type 48 license that gets all nearly all revenue from cover charge and drinks. There is no food on-site. It is currently open Thursdays - Saturdays 7PM to 2AM. A clean crowd results in little to no issues. People mainly come to dance.
Owning this nightclub is more like owning an investment with a nice annual return. Very little is needed of the owner aside from occasionally meeting with management. Tight controls result in little to no theft, so you can have peace of mind while not being there. An owner can easily live out of the area and still have peace of mind that there are no issues.
Revenue opportunities exist with corporate events. Little to no private party and corporate events have occurred at this venue. A little effort in this area could result in a lot of growth.
This business has a good relationship with the city and community. This is a green business, and it working on it's green business certification. $50,000 was invested into solar panels on the roof in 2011.
The lease is long term with two more 5 year options after the current lease period expires in 2016. The business owner has made all improvements to the building, so landlord offers below market rent. As part of the agreement, business owner also owns all fixtures and equipment. The square footage is around 3,800 and capacity is just under 300. A very small patio is in the back of the building.
New furniture was purchased in 2012 and many remodel features where also very recently done.
2011 adjusted net income was $576k from revenue of $1,518,000. Revenue always over $1.2m since 2007. 2013 has expected growth.
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