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Wisconsin Business For Sale |
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| NIGHTCLUB |
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| Attn: Tim Bullard |
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| Milwaukee, WI, USA |
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| Asking Price: |
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$725,000 USD USA Dollars |
| Business for Sale Industry: |
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Food & Beverage: Bars, Clubs, Nightspots |
| Reason for Selling: |
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Divorce |
| Year Established: |
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2003 |
| # of Employees: |
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6 |
| Yearly Revenues: |
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$278,632 |
| Yearly Cash Flow: |
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$97,725 |
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Business for Sale Overview:
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Located 2 miles south of Downtown Milwaukee in Southeastern Wisconsin. This established night club was bought 5 years ago by the present owners and revamped with new lighting, flooring, sound system, televisions, and updates to the bar itself. With over 10,000 square feet the building capacity is extensive. Entertainment is available on two levels. The main floor space is occupied by a large center bar, dance floor, stage, secondary bar and pool table along with tables and chairs for viewing the action and his and hers restrooms. Downstairs can be opened up for weeknights or a softer setting with another full bar, his and hers restrooms, 2 more pool tables, dart machine and tables. The atmosphere is lower key and the space is set up with banquet tables folding into the walls which could be a revenue source for a new owner. The upper level of the building is a 3 bedroom one bath apartment currently occupied by one of the owners. Along with the nightclub, the present owners purchased the parking lot just behind the building with space for 40 plus cars. That rarity in Milwaukee County for a night club adds extra value and keeps neighbors very happy due to off street parking and manages noise levels. The club itself catered to a specific under served clientele in the Milwaukee area at its outset, however it has become a hot spot for twenty-something urban professionals to hear highly promoted DJ's and attend radio and guerilla marketing backed parties. Promoters keep the door fees and the club reaps the benefits. They have an excellent security staff and have had little to no problems with the clientele they serve by maintaining a dress code and enforcing it nightly. The state of the art sound systems and DJ board keep the patrons dancing until the 2a.m close and revenues have been steady for the past 3 years from $260,000 to $300,000 per year. The owner is not representing any cash taken from the nightclub and the business shows a profit year over year, due to on-site ownership. The managing partner would potentially stay on once the partnership is dissolved due to divorce. With the real estate included, this business is highly attractive and the numbers on the night club include rental payments that have been made to the partners on the building.
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Property Features and Assets:
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10,838 square feet building, plus finished lower level bar and banquet room. 0.5 acre parking lot with 2 car garage approximate value of $500,000. All bar related equipment, glassware, stools, tables, chairs, soda lines, ice wells, related machinery. Approximately $7,000 in inventory. $72,418 at book value for furniture, fixtures and equipment including all new lighting and sound systems, flat screen TV’s, etc. |
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Market Competition and Expansion:
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Current customer base is 60% twenty something and 30% thirty something, mostly middle and upper middle class in search of entertainment venues and cocktails where dancing and club style music is played. Owner estimates 50% of clientele are very loyal and would continue to attend the club regardless of ownership as long as entertainment was still the main focus of the venue. The other 50% of clientele come specifically for the promotions, DJ’s and events that are held every Thursday, Friday and Saturday nights at the club. |
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Additional Details:
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- The property is owned.
- The owner is willing to train/assist the new owner.
- The owner may be willing to work for the new owner.
- This may become a homebased business opportunity.
- This may become a franchise opportunity.
- This is not a distressed business or bankruptcy situation.
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