Top Rated Upscale Lounge & Bar

Hillsborough County, FL

Bar Area
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Asking Price: $35,000

Cash Flow: $30,000

Gross Revenue: $135,000

EBITDA: N/A

FF&E: $55,000

Inventory: $4,000

Rent: $2,200 /Month

Established: 2016

Top Rated Upscale Lounge & Bar

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Business Description

Includes Beer & Wine License (2-Cop)

RECENT PRICE DROP FOR IMMEDIATE SALE !!!

This TURN KEY business has been in operation for a little over 24 months and has received fast growth with little to no advertisement. It is currently being run by a manager as the owner is completely hands off with their other business, but will be an excellent business for a owner/operator situation. The lounge was constructed with no expense spared and has become the premier lounge of the Tampa Bay. The addition of alcohol has continued to expand the growth and the margins on hookah are massive !!!

This lounge only operates during night time hours and can easily be run hands off when the owner wishes as systems have been in place to minimize theft, loss and inventory issues. We have put into place a mixture of discounts and entertainment nights to keep the customers involved and coming back along with a resident D.J. on Friday/Saturday nights. The lounge has seating for up to 40 people with a ample room at the bar and dance floor area. It has been rented out on an hourly basis for private parties and events. This is not your run of the lounge/bar, it is often thought to be a franchise due to the level of detail and quality we provide.

The lounge is currently being run fully staffed and completely hands off : the numbers listed reflect an owner/operator situation.

Detailed Information

Location:
Hillsborough County, FL
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
1,625
Lease Expiration:
10/31/2019
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
All equipment and furnishings are just over 24 months old. Recently added a $15k Bar setup. Included in sale are the entire contents of the lounge which includes high end couches, custom hookah tables, custom bar area, 4 tap keg system/large bottle cooler (Brand New), 40+ hookahs, freezer, drinks display cooler, ice machine, cabinets/storage/racking, P.O.S. desk & systems, stage & custom D.J. booth, surveillance system, branding/graphics, karaoke system, smoke extractor, color changing custom exterior sign and more
Competition:
Top rated in the Tampa Bay area with little to no competition at the quality level we provide. We have established regular customers that drive as far as one hour to frequent the lounge multiple times per week. Since opening we have received over 120 five star reviews Pricing is very competitive with excellent margins and large room for growth.
Growth & Expansion:
The 2-cop license was added after the rezone was completed beginning of 2018 and has added 15%-20% to the gross sales. We are growing at 5-7% a quarter and continue to see new customers along with our regulars every week. Future owners have the ability to expand to the neighboring units. The leased space is 1625 sq ft (65' x 25') and has 15 months remaining on the lease with option to extend an additional 1-3 years at $2295 month
Support & Training:
Will Provide : One Week hands on training and One Month Phone Availability. More time can be negotiated
Reason for Selling:
Time restraint with owners other businesses
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Business Listed By:
Alex

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