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Excellent books and records, many growth opportunities
MegaBite Restaurant Brokers LLC offers, for your ownership consideration, a sports bar and grill in Lewisville, Texas with extensive well-maintained billiards and vending machines. The business is a sports bar with a pool hall specialty featuring a large number of pool tables with national pool leagues plus in-house pool tournaments. Unlike most bars, they owns all the vending machines, pool tables and Juke Box. The buildout and equipment are in excellent condition. The location was renovated from scratch in late 2014 and opened in January 2015.
2019 Interim sales are 25% ahead of 2018 and 2019 sales are conservatively forecast to hit $725,000. 2014 to 2018 Cash flow had been consistently in the $125,000 to $145,000 range but 2019 is expected to be $175,000 to $190,000.
This neighborhood bar and grill has developed a loyal and dedicated, younger clientele (typically 20’s & college age) with many growth opportunities for an owner-operator. The layout features open spaces, with partitions to create area separation. The large outdoor patio appeals to day and night patrons. The owner has negotiated an outstanding long-term lease with multiple renewal options.
The asking price for the assets of the business is $299,000 All cash or $400,000 with $200,000 cash and $200,000 seller financing (5 yrs, 8%) to a purchaser qualified & approved by the seller. All financing is to be personally guaranteed. The seller prefers to sell for All-cash. The assets include inventory at cost of $8,000 and FFE (Furniture, Fixtures and Equipment) valued at $115,000.
Note: The sale of a business is confidential and discreet; Please do not visit the business or speak with any employees. We know about many businesses that are for sale but might not be advertised. Check out www.megabite-rb.com for more information and consider registering your criteria as a purchaser.
Key words: nightclub lounge martini beer whiskey liquor alcohol craft billiards pool bartender Sell my neighborhood bar For Sale
The business is located in a busy center. The business consists of ~4,995 +/- SF offering inside seating plus patios for outside seating. The floorplan consists of a large open walk-up bar, a front karaoke-dance-music area, main bar seating, billiard and darts area, main outdoor lighted patio, covered sidewalk patio seating, large kitchen & prep area, large walk-in cooler for beer bottles/kegs, dry storage, restrooms, office. The patio has easy direct access to the bar. The owner negotiated an Awesome lease: the base rent is ~$6,050/month + NNN* for a total of $1,500-1,700 per year. The seller explains that NNN is only charged on any Increase from the 2014 base year! The security deposit is $5,500. The lease expires Oct 31, 2024 and has one 5-year option with 10% (or CPI) rent increases. The landlord is willing to offer a long-term lease with renewals to a qualified tenant.
$6,050 per annum
Located in a busy center.
The business consists of ~4,995 +/- SF offering inside seating plus patios for outside seating. The floorplan consists of a large open walk-up bar, a front karaoke-dance-music area, main bar seating, billiard and darts area, main outdoor lighted patio, covered sidewalk patio seating, large kitchen & prep area, large walk-in cooler for beer bottles/kegs, dry storage, restrooms, office. The patio has easy direct access to the bar.
This is a strong location with high volume and excellent potential. A new owner can continue to grow the business and profits in several ways: 1) Increase size of stage to accommodate larger bands/entertainment, 2) Bring in Live entertainment, 3) Add marketing to build day sales, 4) Improve day sales with food, 5) Create a social media following on Facebook and boost posts for events, karaoke and music, 6) Local marketing and promotion
The bar industry is very competitive, and this sports bar is no exception. The local market has a range of bars from small local mom & pops to large chains. However, the Owner feels that no area bar offers the amount of new pool tables, new vending games, food/drink quality, entertainment, atmosphere, patios and sheer enjoyment of this business.
The seller wishes to ensure a seamless transition with a purchaser and will train a buyer for up to 3 weeks included in the purchase price. The seller is willing to remain for a longer period for an additional $650/wk.
Price $299,000 All-cash or $400K with $200k down and $200k Seller-financing
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