LOS ANGELES, California
| Asking Price |
$595,000 |
Year Established |
2003 |
|
| Annual Revenue |
$1,276,578 |
Reason for Selling |
Personal |
|
| Annual P/L |
$65 |
Attention |
Ryan Clark |
|
| Annual Cash Flow |
$180,000 |
Listing Number |
594327 |
|
| # of Employees |
24 |
Business Category |
Food & Beverage: Bars, Clubs, Nightspots |
|
Business Overview:
This restaurant and nightclub is centrally located in the heart of Fullerton’s highly popular entertainment corridor. The venue boasts an occupancy over 540, which is reported to be the highest of any bar or nightclub in the area. They are also reported to be only 1 of 2 venues that can offer bottle service, and they possess a unique conditional use permit (CUP) that allows them to operate as a nightclub after 10 pm without being required to offer food. Together with these favorable entitlements, the business has dance, DJ and live entertainment, and their CUP is said to be grandfathered in so an annual renewal is not necessary as it may be with newer venues.
Property Features and Assets:
This 6,700 square foot facility leases for a base rent of $17,500 per month on a lease with just over 5 years remaining. They have 2 bars, a stage, outdoor patios as well as a spacious kitchen with a walk-in. One of the bars has a 14 tap beer system while the other bar has a 10 tap system; the front of house has an 8 terminal point of sale (POS) system. All of the business’s furniture, fixture, equipment, goodwill, Type 47 liquor license and conditional use permit entitlements will transfer in the sale. Approximately $20,000 in inventory will be sold at cost at close in addition to purchase price.
Market Competition and Expansion:
While competition exists in this popular area, this venue occupies prominent real estate at the epicenter of this entertainment corridor, and benefits the most comprehensive and operator-friendly entitlements of all of the options within the comparative set. As such,
competing venues are hard-pressed to match this one’s unique attributes. The business could likely benefit from the presence of a fully engaged full-time owner operators with industry experience. This will not only help to ensure top quality customer service, but also a top quality dining experience, the most alluring ambiance that caters to today’s patrons, a competitive entertainment offering and the resultant
maximum restaurant, bar, bottle service and door revenues.
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity