Seller Financing Available
Gross Revenue: $573,348
Rate/Sq. Ft.: N/A
Gay LGBT Drag Nightclub Lounge Semi-absentee Owned
Profitable, many growth opportunities
MegaBite Restaurant & Bar Brokers offers, for your ownership consideration, a lively LGBT drag bar featuring DJs, dancing, drag shows, karaoke and theme nights under club lighting. When the Fort Worth community announced that a large, trendy gay nightclub was planning to open in June 2009, excitement was evident, as very few gay nightclubs or bars existed in the city at that time. This club has a world famous history including a documentary film. The location has become a popular and busy nightclub and a destination bar for out of town and international visitors (like the FW Stockyards).
The location is popular for private events such as bachelorettes and birthday parties. The large outdoor patio is flexible offering food (eg bbq, smoker) and space options. The business day to day operations are overseen by the experienced general manager. The owner plans and oversees the promotional and event schedule (averages 15-20 hrs/wk). Many growth opportunities exist for a new owner especially through better promotion to both the LGBT and straight communities. The owner also feels that cosmetic updates will also improve the business (eg painting, bar facelift, …) estimated at $5,000-20,000. The asking price for the assets of the business is $175,000 ALL CASH OR $200,000 with $100,000 cash down plus $100,000 seller financing to purchaser qualified/approved by the seller. The seller prefers ALL-CASH. The assets include inventory at cost of $6,500 and FFE (Furniture, Fixtures and Equipment) valued at $10,000. KEYWORDS: nightclub lounge martini beer whiskey liquor alcohol craft billiards pool bartender Gay Lesbian Bisexual Transgender drag queen female impersonator revue reviews shows Sell my nightclub lounge bar For Sale
Inventory: Included in asking price
Real Estate: Leased
Building Sq. Ft.: 2,200
Lease Expiration: 6/1/2019
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: The bar consists of ~2200 SF and is located in the heart of Fort Worth in a stand-alone building. It consists of a large open floor for dancing and pool tables, DJ booth, 1 dressing room, 1 office and a large outdoor patio. Seating ~190 + large outdoor patio.
The current monthly rent is ~$2200. The 5 year lease expires ~June 2019.
Competition: The bar industry is very competitive. The local market has a range of bars from small neighborhood local mom & pop’s to large national chains. However, the owner feels that there is no Fort Worth gay bar comparable to this one. The nearest competitors are in Dallas.
Growth & Expansion: This is a strong location with excellent potential. Currently, the business markets on Facebook and FW Weekly, A new owner can continue to grow the business and profits in several ways: 1) Internet marketing via FB page, emails, Yelp, … , 2) Add Website, 3) Continue to promote as location for Birthday parties, bachelor/bachelorette parties, 4) Promote to straight communities, 5) Expand bar, 6) Cosmetic updates such as painting, bar area facelift, new counters
Financing: Price $175,000 ALL-CASH or $200k with $100K down & $100k seller-financing
Support & Training: The seller wishes to ensure a seamless transition with a purchaser. He will train a buyer for 2 weeks included in the purchase price. The seller is willing to consult for a longer period of time, if desired by a purchaser, at mutually agreed compensation.
Reason for Selling: Retirement, Relocation
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