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Asking Price$349,999
Revenue$240,000 EstablishedUndisclosed
Cash Flow$160,000 Employees1 full, 4 part
FF&E$100,000 FranchiseNo
Inventory$100,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
LISTING ID # 33768

****** Lounge Near University! Please note that no new ****** licenses are being issued in NY State. This lounge was established in 2013 and is now one of the most popular on Long Island and in all of NY. This was actually one of the first to open successfully on Long Island. It is located a short distance from four major universities. This is a rare opportunity to own a profitable and fully absentee business. This location was closed for approximately 4 months during the state mandated Covid shutdown. The owners used this time to renovate and improve the business. Since reopening they have seen a great bounce back in revenue. They are coming off their strongest monthly sales in 8 years! In the past full year the business grossed approx. $240,000.00 with an owner's cash flow of approx. $160,000.00. There are 3 years left on the current lease (this can easily be extended for a qualified buyer) with a rent of only $2,550 for an 800 sq. ft space. Currently they are only open 6 hours on weekdays and 7 hours on weekends. The hours should be extended. In addition, there has been a demand for on premises alcohol. Due to religious reasons the current owners have not pursued this. A new owner should apply for a full liquor license or just a beer and wine license. We are seeking a serious and financially qualified buyer with at least $350K in liquid funds to cover the asking price. To learn more, please call, text or email Mel Vaz today at 631-767-0157 or melvaz@vestedbb.com. Proof of liquid funds shall be requested. All site visits must be discreet. Please do not speak with anyone when visiting the location. All meetings must be scheduled by appointment only! Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.  

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Training/Support:Seller will train
Seller Financing:349,999.00 Down & Possible seller financing for a well-qualified buyer with good credit and a person
Sale Reason:Moving to manage another business.
Ad #126777
Seller Reference #33768
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