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Upscale & Profitable Karaoke Lounge/Bar

Norcross, GA (Gwinnett County)

Seller Financing Available
Upscale & Profitable Karaoke Lounge/Bar

Asking Price: $140,000

Gross Income: $300,000

Cash Flow: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: N/A

Established: 2011

Employees: 7

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Business Description

Bar Business For Sale Along w/ Real Estate

Nearly 8,000 SF upscale Karaoke Lounge / Bar in the anchor position in a large shopping center on a busy major street in the Norcross is
listed for sale at only $120,000.00! With over $250,000 in build out alone, you can't go wrong with this business! The rent is only $6,197.16 a
month, including insurance, taxes and maintenance, with a long lease remaining! All assets are owned and come with sale, including POS, TVs and Karaoke Technology. Sales are around $25,000 - $30,000 month and increasing daily with low overhead costs! Current hours are only between 6pm to 2am six days a week. Additional income could be generated with longer hours. This KARAOKE lounge is quickly becoming the neighborhood place to be and is known for the great food and drinks. 11 Private VIP rooms with Nightly events are already in place and bringing in new customers daily. Sales could be expanded even more with ANY little bit of marketing or promoting the lunch business.

REAL ESTATE IS ALSO AVAILABLE FOR SALE. ASKING PRICE $940,000.00

Attached Documents

 INFO PACKAGE

Detailed Information

Real Estate:
Included in asking price
Facilities:
Near 8,000 square feet of upscale decor and full bar. Large and full kitchen with a large pastry display out front. 10 VIP Karaoke rooms with independent karaoke systems with licensed songs and monthly updates. 14 HD Flatscreen TVs. All rooms are fully furnished. Ample parking spots. All technology, kitchen fixtures and POS are owned and not leased.
Competition:
The only Unique Private Room Karaoke Concept within 10 miles. Very popular in the Asian community and a growing phenomenon in the US. Along with private rooms is a large stage for LIVE performances in front of the bar. Already strong internet presence. With more good marketing, revenue streams will see definite increase.
Growth & Expansion:
Current operational hours are from 6pm to 2am with most business happening after 9pm. A lunch operation could be had to expand hours of opening for more business. Hiring of a Chef would increase dinner service. Additional VIP Private Karaoke Rooms could be added by opening space next door. Additional promotes for bands and live music could lead to additional profits.
Financing:
30% minimum downpayment. Depended upon financial circumstance of buyer.
Support & Training:
Training Available. Manager will stay even after sale.
Reason for Selling:
Retirement
Business Website:
http://www.aituneskaraoke.com
Contact Business Seller

Ad#: 1043479

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Business Listed By:
martin chan

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