Business Overview:
This bar/club was established in 2001 and the owner changed it to a social club in 2009 so they now can serve liquor. The club has a very attractive interior of 2,100 square feet, plus a 420 square foot patio. The interior has nice barn wood floors, pool tables, band/dance area, televisions, and of course the main bar.
Seller is open to selling the club’s real estate and carrying the note if desired. Asking price for the real estate is $400,000 with $40,000 down and payments amortized over 360 months at $2,896.64 per month including 9% interest. The parcel is 9,686 square feet, including the building. A balloon payment of the balance will be due at 120 months. There are two other possibilities for parcels, next to the club, which the seller is willing to sell, pending improvements. One is 98,368 square feet and currently used as an impound yard for the seller’s body shop/towing company. He will sell this for $300,000 with $30,000 down and seller financing amortized over 360 months at $2172.48 per month including 9% interest. Balance due at 120 months.
The other parcel, pending improvements, is 7145 square feet. Seller will sell this for $150,000 with $15,000 down and seller financing amortized over 360 months payable at $1086.24 per month including 9% interest. Balance due at 120 months.
To purchase the business and rent the facility, seller is offering the rent at an attractive $900 per month for the first 24 months. This will give an owner/operator time to build the business to higher revenue before increasing the rent. After 24 months, the seller may keep the rent below $2,000 per month, which would be lower than market value for this type of facility. You will want to negotiate this in advance in your Offer to Purchase.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
The club has a very attractive interior of 2,100 square feet, plus a 420 square foot patio. The interior has nice barn wood floors, pool tables, band/dance area, televisions, and of course the main bar. The business is currently run with 5 part-time employees, who work 30 hours or less per week. This does not include one 30-hour per week bartender whom the owner/operator would replace. Pay is between $5.00 and $7.50 per hour plus tips.
Seller is open to selling the club’s real estate and carrying the note if desired. Asking price for the real estate is $400,000 with $40,000 down and payments amortized over 360 months at $2,896.64 per month including 9% interest. The parcel is 9,686 square feet, including the building. A balloon payment of the balance will be due at 120 months. There are two other possibilities for parcels, next to the club, which the seller is willing to sell, pending improvements. One is 98,368 square feet and currently used as an impound yard for the seller’s body shop/towing company. He will sell this for $300,000 with $30,000 down and seller financing amortized over 360 months at $2172.48 per month including 9% interest. Balance due at 120 months.
The other parcel, pending improvements, is 7145 square feet. Seller will sell this for $150,000 with $15,000 down and seller financing amortized over 360 months payable at $1086.24 per month including 9% interest. Balance due at 120 months.
Market Competition and Expansion:
Revenue growth opportunities include a new owner/operator working a shift, which the current owner does not do. Financials have been adjusted to show owner/operator replacing one 30-hour per week bartender. Another opportunity to increase income is to add a kitchen. A pizza menu is a great option, providing a great opportunity to have two businesses out of the same facility: a social club and pizza delivery. Lastly, the number one way to increase income in social clubs is to find the right band to play weekly, every other week or monthly, which draws regular clientele.
Reason for Selling:
Pursue other interests.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
Resources: