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Well Established Bar With Liquor
Location California,United States
Asking Price Range < $250K
Gross Revenues $248000
Net Profit / Cash Flow $42000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1985
Number of Employees 6 - 9
Inventory 10000
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training 2 weeks at 20 hours/week.
Reason for Sale Personal.
Description This well established Lake Elsinore bar with liquor and live music is the quintessential neighborhood ''dive'' bar. Established for nearly 30 years, this business with a Type 48 license offers a full bar and patio without the need to serve food. The entertainment permit allows for live music and DJ's, and the business also offers jukebox and billiards. Though sales have declined the last few years with the recent economic environment, as well as less direct owner involvement, historical sales have been as high as $350,000 per year. With low overhead and healthy profit margins this bar is able to provide a working owner the opportunity to take home a nice profit.
This 900 square foot facility leases for $1,450 per month including CAM expense on a 5 year lease valid through April 2016 with a 5 year option. A storage shed is also available for lease for an additional $400 per month. All of the business assets will transfer in the sale including the furniture, fixtures, equipment and liquor license. Inventory will be sold in addition to the asking price at cost at close.
Asking Price $119,000.
Lake Elsinore is a relatively small Riverside County community. As such, there are only a few other comparable watering holes this venue competes with. Its reputation and loyal customer base provide a natural advantage over other establishments, while its unique concept truly sets apart from the rest.
As this business is nearly entirely absentee operated, a working owner should immediately positively impact the business's ability to generate additional revenues. New owners will likely reinvigorate the concept and potentially re-launch it with an aggressive ad campaign and enhanced band or alternative entertainment offering.
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