Hollywood Bar, Restaurant & Performing Arts Center Great Locat

Location: California, United States
Category: Food and Beverage
Type: Established

Financials

Asking Price: $595,000
Cash flow: Not Disclosed
Revenue: Not Disclosed
Gross Income: $600,000
Inventory: Not Disclosed
FF&E $65,000 - Included in the Asking Price
Real Estate: Not Disclosed

Business Details

This new business is the latest addition to the Hollywood club scene. Just opening in April, 2006, this business did $50,000 in revenues one month later and over $75,000 three months later. This bar music hall (no dancing - yet)offers patrons a full service, classy restaurant menu, two full bars (one on each floor), a DJ balcony, as well as a 12 x 20 foot stage for live performances. Housed in an approximately 200 capacity location, this club showcases local and touring bands, a resident theatre troupe, poetry, performance art, and even cabaret and vaudeville. This two story facility includes a full service restaurant with both indoor and al fresco dining, two full bars, a mezzanine with a free library and art gallery, and modular staging.

Facilities:
This facility occupies about 6,000 square feet (4,500 downstairs and 1,500 upstairs) and is approved to accommodate 400 patrons downstairs and 150 patrons upstairs (which has yet to open to the public). In addition, this facility offers a plethora of on site parking spaces. The sale includes two full bars, a full service kitchen, kitchen equipment, dining areas, stage and most importantly, a type 47 liquor license and a cabaret permit in Hollywood.

Financing:
Not Offered

Support:
2 Weeks at 20 hrs.week

Competition:
Competition is considered medium to high as the area is a hot spot for bars and nightclubs. This club, however, has positioned itself to be easy to access with a large on-site parking lot, and large enough to offer live entertainment as well as balcony style VIP style services

Growth:
This club did $50,000 in revenues in its first full month, and over $75,000 in its third month of operations, a positive sign by anyone s standards. At present, management has done limited band bookings and has agreed to give talent 100% of the door (cover charges). Beginning in late July, management will take 30% of the door and increase its percentage of cover fees to 50% shortly thereafter. In addition, the whole 1,500 second floor of this nightclub, which houses a second bar as well as a potential VIP area.

General Information

Reason Selling: Personal

Number of Employees: 14
Year Established: 2006