Owner Financing is Available!
Business Overview:
This Premium Tobacco, Cigar Shop & Lounge was established in late 2007 by the current owners who have a passion for fine tobacco products & revitalizing the area. The owners invested over $300,000 in the build out & furnishing the beautiful space.
The business is 1 of 4 locations in DC with a Smoking, Liquor & Entertainment License making this a very desirable destination for the many people looking for a great place to relax & have fun. The retail side of the business's clientele is from the novice to the connoisseur with the area's largest Custom Built Spanish Cedar Humidor with Premium Tobacco Products from exclusive vendors, which will passed to the new owner.
The business had great success in its first full year in business (2008) grossing over $330,000, netting nearly $60,000. Many businesses took a huge hit in 2009 & 2010, many closing its doors, but this business was able to sustain the struggling economy & is poised for growth & success. With the revitalization & developing in the surrounding area, this part of town is becoming the new go to spot! The space is absolutely beautiful and can cater to any Bar & Lounge Concept. There is also the possibility of adding a small kitchen on the property which could increase revenues by offering light faire. In keeping it a Cigar Bar & Lounge the current owners have a guaranteed profit stream with Humidified Locker Rentals for members/customers; if all the lockers are rented they generate over $30,000 year in pure profit. This place is a must see for anybody looking to get into the Tobacco & Bar Business. The owners are selling due to their full time job and growing family.
The Sellers of the business do own the Real Estate & will be offering a favorable Lease Rate & Term for the buyer below market value. They would love to see someone continue the great concept, but are open to a buyer changing or adding to it. This is a great opportunity, don't let it pass you by!
For more information contact Dustin Zeher at 571-437-5135 or via email at dustin@horizonbrokers.com
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 1,900 sq. ft. space was completely renovated in late 2008, its absolutely beautiful with exposed brick and the finest quality materials and craftsmanship. There are 4 flat screen TVs throughout, custom bar and displays. The Sellers of the business do own the property and will be offering very reasonable lease rate and terms, below market value!
FF&E of $80,000 is included in the asking price. Owners are offering necessary training and support.
Market Competition and Expansion:
Competition: In a growing part of Washington DC this Tobacco, Cigar Shop & Lounge with Full Bar is 1 of 4 Establishments in DC that have a Smoking License, ABC License and Entertainment License where people can relax and enjoy a fine cigar, drink, and listen to live music. The business also has the market cornered with the finest selection of cigar and tobacco products in the areas largest Humidor.
Growth/Expansion: This business is poised for growth as the area is being developed and revitalized rapidly. With the limited amount of places to be able to enjoy a fine cigar, drink and entertainment and the District{s strict smoking laws and requirements to obtain a liquor and smoking license the business is going to grow on its own. With a more active owner, increased business hours, a wider product selection and increased marketing and advertising efforts the possibilities are endless.
Reason for Selling:
Full Time Jobs & Family.
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.