Business Broker.Net | Connecting Business Buyers and Sellers

Asking Price:	$850,000 USD USA Dollars
Business for Sale Industry:	Food & Beverage: Bars, Clubs, Nightspots
Reason for Selling:	Personal.
Year Established:	1950
# of Employees:	4
Yearly Revenues:	$720,000
Yearly Cash Flow:	$275,000
Yearly Net Profit:	$275,000
Monthly Payroll:	$9,000

Business for Sale Overview:

This Hollywood Area hipster bar with a Type 48 liquor license is the rarest of finds in a highly eclectic and one of the most sought after areas of Hollywood. This very well established bar is a hole in the wall on the outside, yet plush and appealing on the inside. The facility rewards its loyal, hip and decidedly “non-Hollywood pretentious” hipster patrons an indoor and outdoor bar, two stage and or gathering areas, and a plethora of nicely appointed indoor bottle service booths, or outdoor smoking and everything else booths. As this bar has a full-liquor license, there is no food service requirement.

Property Features and Assets:

This 3,700 square foot facility is conveniently located near the 101 Freeway, as well as the major entertainment venue of Hollywood. The bars include several POS terminals, 2 separate entertainment / lounge areas, a potential VIP room, storage, and plenty of office space. The facility leases for $15,000 per month, on a lease until October 2012 with a 5 year option. The lease includes 2 parking spaces, and the facility offers patrons valet or street parking. Occupancy officially exceeds 300, but the space can comfortably fit many more give the size and ease of access the outdoor patio offers.

Market Competition and Expansion:

This business is not located in direct competition with other Hollywood venues and has been a stable earner for likely a half of a century. As the venue, its owner and its promoters seek to maintain a very relaxed vibe, the bar does not compete head to head with the Hollywood Boulevard bars in fashion that year … rather, this bar’s patrons opt to fly under the radar of those seeking establishments with long lines and door fees. This bar does no advertising and little promotion – in fact, it does not have an advertised name, marquee or billboard. The owners have similarly opted to not charge a cover charge or promote ‘exclusive’ parties, etc. While new owner may seek to implement such changes, current management would suggest that a buyer maintain the status quo and allow the bar to continue as a steady earner.

Additional Details:

• The property is leased.
• The owner is willing to train/assist the new owner.
• The owner is not willing to work for the new owner.
• This is not a homebased business opportunity.
• This is not a franchise resale opportunity.
• This is not a distressed business or bankruptcy situation.