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Listed by:

isellrestaurantsandbars.com

$250,000 Buys Turnkey Lounge With Kitchen For Sale

Baldwin County, Alabama, US
Asking Price:
$250,000 Furniture / Fixtures included
Sales Revenue:
$561,000
Cash Flow:
$89,000

$250,000 Buys Turnkey Lounge with Kitchen

Great opportunity to acquire a very attractive lounge with kitchen located in an area that is now the sixteenth fastest growing metro area in the United States and the fastest growing area in the state of Alabama. The short hours of business at this establishment with a seating capacity of about 75 caters to patrons for special entertainment, group parties, and a fun filled evening with friends and family. Upon arrival this establishment pampers it's guests with modern sophistication and design along with over 30 taps of craft drafts as well as domestic beers, a full bar, entertainment and karaoke each Wednesday through the weekends, multiple flat screen televisions, and an overall enjoyable entertainment atmosphere. Most of the clientele is established repeat, referral or location driven, therefore, upside potential, and additional revenues and higher bottom line profits may be realized by additional hours of business. The business maintains a full complement of staff that are trained in high level service techniques as well as high energy presentation of custom crafted cocktails. The staff are expected to maintain a professional appearance to emphasize a positive competence and credibility in what they are selling. The staff are very energetic and promote a fun environment to be had by the customer. This is definitely the most vibrant lounge in the area ensuring a unique position in the market, with an established reputation, loyal clientele, and endless potential for growth for a new owner.

Property Information

Real Estate:

Lease

Lease Terms:

Lease Expiration:
5/12/2029

Leasehold Rent:

$67,200 per annum

Location:

Baldwin County, AL

Premises Details:

The building is leased and the fixtures, furniture and equipment are all debt free and in new condition. The bar is fully furnished and has 30 draft beer taps along with two refrigerated beer boxes. The inventory includes a wide variety of liquors as well as wine and the beer variety includes a large number of craft beers as well as all domestic offerings. The location has more than ample parking for more than 200 vehicles and is in an high-income community area. Observation required to appreciate the cleanliness and condition of the business.

Size in square feet:
3,287

Business Operation

Management type:
This business is owner operated.
Expansion Potential:

The owner has day time employment and therefore unable to open the business until 4:00 pm each day. One area of growth would be to open the business at 11:00 am to serve lunch and initiate an afternoon "Happy Hour". Another growth area would be to offer food delivery to the area either through Door Dash and Uber or have your own delivery service. Catering is another area for growth that is not currently being offered. This area is a very strong college football following and special events for alumni on game days is possible.

Competition / Market:

The current location is conveniently positioned in the heart of a very rapidly growing area, with a diverse population and strong economy, however, there is no considerable competition in the area. There are very few lounges with entertainment in the area and most of the lounges in the area are in the Hotels. The community is comprised of homes in the $400,000 to $2,000,000 area in price.

Reasons for selling:

The owner/manager is being transferred in his daytime job.

Employees:
3
Years established:
3 Years

Other Information

Support & training:

The Seller is willing to assist the new owner for three days in house training of operations and staff, and another two weeks of consultation by phone, e-mail or text. The Seller will provide a full list of assets and vendor information as well as licensing requirements with contact names and numbers.

Furniture / Fixtures value:
$250,000 - included in the asking price
Inventory / Stock value:
$12,500
Relocatable:
This business can be relocated