Business Overview:
This West Los Angeles / Beverly Hills Area Bar offers a buyer exactly what most bar buyers seek – an established venue with a local client base, liquor, live entertainment, a kitchen but no food service required and no conditional use permit (CUP)! This turnkey opportunity has a bar friendly landlord, a seasoned staff and years of goodwill. The facility has occupancy for just under 200 patrons, a large stage, VIP room, kitchen, coat room, manager’s office and liquor room. The kitchen is equipped with an oven, stove, deep fryer, refrigerators and a dish washing sink. Please note that while 2009 financials are indicated, which are comparable to prior year’s financial performance, 2010 is tracking tremendously down.
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:
This 3,000 square foot facility will lease for $9,200 per month on a lease until October of 2013, with potential options to be negotiated. All of the business’s furniture, fixtures, equipment, goodwill, lease rights, permits and Type 47 Liquor License are included in the sale.
Market Competition and Expansion:
The greater West Los Angeles, Beverly Hills and Century City areas are fairly competitive bar and live entertainment markets due to its high concentration of affluent residents, nearby college students, and easily accessible central locations. The venue has carved out a market niche over the years that have made it the area incumbent and local favorite for its target demographic. As such, it faces a reduced threat of new direct competition while providing a new owner a loyal client base and a tremendous amount of goodwill to build upon. The bar and live entertainment venue has regularly posted sales in the $2 ml. plus ballpark, making it a well-established earner. New owners would benefit by booking performers and promoting the bar in the same manner in which it’s historically been to restore to their former levels (2009’s financials are indicated; while we do not have comprehensive 2010 data yet, we do know that it is tracking tremendously down). As the venue does not promote its food service, new owners may also seek to expand the menu offering to include a more sophisticated food fare and attract a more substantive dinner and lounge crowd.
Reason for Selling:
Personal
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.