High-Volume Top 40 Dance Club and LGBT Hangout

Reno, NV (Washoe County)

Seller Financing Available
High-Volume Top 40 Dance Club and LGBT Hangout

Asking Price:$225,000

Cash Flow:N/A

Gross Revenue:$557,021

EBITDA:N/A

FF&E:$104,025

Inventory:N/A

Established:1971

High-Volume Top 40 Dance Club and LGBT Hangout

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Business Description

5 Star is one of Reno's highest volume dance clubs on weekends, and is a popular Karaoke bar mid-week. Located in the heart of Reno's Riverwalk District just two blocks south of the busy Casino Corridor, and within Reno's Entertainment Zone of 24-hour nightlife, 5 Star Saloon enjoys a constant flow of foot traffic from locals and visitors to the city. Downtown events, such as Wine Walks and theme crawls, drive immense traffic during the busy weekends while regulars and students enjoy good times and craft cocktails all week long.

5 Star is THE top dance club in the downtown area, and features a full Cabaret liquor license required in Reno for live entertainment. With the area's best DJs spinning Top 40 sounds until the sun comes up, 5 Star has provided a safe and fun atmosphere to express individuality and share good times for over 45 years. The club regularly supports and hosts community events, charity fundraisers and artist functions, and is an integral part of Reno's social connectivity. As a veteran-owned establishment, 5 Star is steadfast in support of area veteran services and offers discounts to veterans, police and fire personnel.

The bar receives excellent reviews and a robust following on social media, has enjoyed a loyal and passionate customer base for decades, and features an easy-to-navigate website listing nightly drink and food specials and upcoming events. An LGBT safe haven and the longest running gay bar in Nevada, 5 Star has received community awards as the top gay hangout in the Reno/Sparks valley for the past 8 years. Owner-operated with trusted, long-term employees, the club is turnkey. This is the perfect opportunity for someone interested in purchasing a well-known, well-respected establishment considered family to Reno's vibrant and diverse community.

Detailed Information

Inventory:
Included in asking price
Employees:
16
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
3,500 sf of prime retail real estate in the popular Riverwalk District. Easy access and free parking in the nearby 1st Street parking gallery with validation.
Competition:
There are nearly 60 bars in downtown Reno, not including the casinos, with most located within a few block radius. This creates an environment that attracts locals and tourists as a destination, and many regulars prefer bouncing from place to place rather than setting up at one spot all night. Frequent crawls and other sponsored events drive immense traffic to the location, piggy-backing on marketing efforts of the event organizers and benefiting from massively discounted exposure. There are two other dance club locations downtown, both which veer heavily toward EDM/electronica music and further drive those looking for Top-40 dance hits to the 5 Star scene. Overall, the Reno downtown scene is one of collaboration over competition, with owners regularly assisting each other and coordinating marketing efforts for maximum shared benefit.
Growth & Expansion:
The bar enjoys a fantastic word-of-mouth reputation, based on consistent customer service and a safe, welcoming environment. The late hours of operation capture after-hours crowds, common in the 24-hour entertainment environment of Nevada, and its location in the Riverwalk District makes it highly visible. A new owner could further expand the business to include a gaming component which the bar is set up to support, by creating an outdoor rooftop patio to move smoking outside and take advantage of Reno's amazing weather, or by investing in early afternoon events that draw in more of the river/park attendees. Very little is spent on advertising. Several massive residential development projects are in the works nearby, including the planned expansion of the UNR graduate residency program into the downtown corridor, which will attract many additional potential club-goers in the 21-30 age range into easy walking distance.
Financing:
All cash or terms acceptable to seller
Support & Training:
2 weeks
Reason for Selling:
Health reasons and other business opportunities

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Bradley Bottoset

Business Listed By:
Bradley Bottoset

The Liberty Group of Nevada

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