Ultimate 450-Person Capacity Sports Bar with $788,000 in Sales

2298

Newly-renovated sports bar in stand-alone building featuring sand volleyball with full tenured staff of 10 employees that allows owner to work only 15 hours a week on bookkeeping and oversight and make $74,217 a year in profit after expenses. The bar has been in business since 1999 and has made quite the name for itself as a great place to grab a drink and eat on game day or anytime. Also adding to the revenue are the 96 volleyball teams that play on two beautiful outdoor sand volleyball courts in three out of the four seasons. The menu has recently been revamped to provide newer, fresher items which increases sales and lowers food costs. This business did $80,000 in build-out for volleyball which has been proven to be successful as 5% of the top line revenue comes from league fees. The primary sources of income are beverage sales (52%) and food sales (39%).

Rent is all-inclusive for $7,000/month. Typical cost per square footage for a bar or restaurant averages $1.95 per square foot per month, however for a 7,800 square foot space, this bar is priced a full 54% below the industry average at a rate of only 89.7 cents per foot per month. Located in a well-trafficked area in Northwest Omaha where 28,044 cars drive by each day, this sports bar is a great game-day destination for groups of any size. Up to 457 patrons can visit at one time: 235 inside, 157 in the volleyball courts and 65 in the expansive outdoor beer garden.

Unlike many businesses in this industry, this Ultimate 450-Person Capacity Sports Bar has been pre-approved for a bank loan for a qualified buyer.

For a detailed financial package, please contact Cortney Sells or one of The Firm Business Brokerage’s professionals at 402.998.5288 or email Confidential@TheFirmB2B.com.

Reason for Selling: Moving out of state
Personnel: 12: 1 full-time General Manager, 1 full time Chef, 4 Servers, 4 Bartenders, 2 Cooks
Hours: 11:00am-2:00am Daily
History: 1999
Lease: 7,800 sq./ft. stand-alone building with beer garden, 2 volleyball courts, dance floor, large pkg lot
Support to Buyer: 3 Months (non-paid training and transition period), 15% Financing
Additional Information:

Income Breakdown
52% Beverages: $409,419
39% Food: $304,186
5% Volleyball: $35,529
3% Keno: $25,829
1% Other: $13,582 (Pickles, vending games, merchandise, etc.)

Multiplier: 3.3
Growth Opportunities: Schedule corporate events and private gatherings
Current Owner's Responsibilities: Bookeeping; the tenured staff performs all day-to-day tasks

Lease: $7,000/month; this ft/mo which is a full 54% below the industry average of $1.95 ft/mo
Car Counts: 28,044 Average Daily Traffic
Capacity: 457: 235 inside, 157 volleyball, 65 beer garden

Intangible Assets: Remodels
• 2013 New Volleyball Courts: $80,000 in event lighting, outdoor sound system, plumbing/drainage system and imported exotic sand
• 2015 Interior Remodel & Redesign: $60,000

Funding Example
15% Buyer Down Payment: $36,750
15% Seller Financing: $36,750
70% Bank Loan: $171,500
Bank loan is collateralized by equipment within the business. Loan has been pre-approved for a qualified buyer.

Facilities:

Location: Northwest Omaha Stand-Alone Building: 7,800 sq. ft. Beer Garden 2 Volleyball Courts ? Dance Floor ? Parking Lot

Growth Potential:

Schedule corporate events and private gatherings

Training/Support:

3 Months

Seller Financing:

Seller will finance 15% of the Purchase Price

Sale Reason:

Moving out of State