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Beer & Wine Bar For Sale
Location California,United States
Asking Price Range < $250K
Gross Revenues $140275
Net Profit / Cash Flow $14776
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1988
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 newly refurbished and upgraded Santa Monica beer and wine bar with no food requirement is a neighborhood favorite that draws the majority of its traffic from young, professional Westside hipsters, local South Santa Monica residents as well as from a healthy dose of city college students. With healthy profit margins, the venue has historically thrived with limited operating hours by capitalizing on its college area location, parking lot, reasonable rent, and casual-chic concept. The bar offers patrons music entertainment provided by a disc jockey (DJ), but no live entertainment or dancing - though the premise does not require a conditional use permit (CUP).
Asking Price $135,000.
The 1,500 square foot facility officially leases for $3,500 per month, on a lease valid until July 2015 with options to be determined. The sale includes all of the facility's furniture, fixtures and equipment paid off in the sale, as well as the type 42 beer and wine license. The facility includes a manager's office and has a parking lot with approximately 20 spaces.
The Santa Monica bar market is divided into 4 distinct categories. There is the Main Street Santa Monica market, the 3rd Street Promenade / Montana market, the East Santa Monica / Brentwood market, and the Santa Monica City College market. Within the Santa Monica City College market, this venue faces some direct competition, but dominates its neighborhood.
This venue is only open 45 hours per week. New owner may seek to extend the operating hours to attract the happy hour crowd, offer mid-week or Sunday evening promotions, Sunday night football viewing, or otherwise expand the bar's service offering. Additional benefits may potentially be found by placing inventory controls in place. Naturally, wage expenses can and top quality customer service can be ensured via the introduction of a working owner who also bartends. Though there is no hood, the bar could also implement limited easy to prepare food service.
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