|
|
| Hollywood Nightclub/Restaurant with Prime Location | |
| Industry Description |
Night Club - Restaurant |
SIC |
5813 - 04 |
|
| Days Open |
Varies |
Year Established |
1922 (Theatre); 1998 |
|
| Hours of Operation |
Years Owned |
1995 |
||
| Full-time Employees |
30 + |
Part-time |
0 |
|
| Other Notes |
||||
| Hours/wk by Owner |
Varies |
Owners Duties |
Management/Promotion |
|
| Skills / Licenses ReqÕd |
Type 47 Liquor; Entert./Caberet |
Training Offered |
As necessary |
|
| Non-Compete Terms |
TBD |
|||
| Exec. Summary |
This has been a very popular club in a prime Hollywood location for yrs. |
|||
| Lease / Bldg. Info. |
652 Occupancy |
Monthly Rent |
$13,000 |
|
| Lease Commenced |
2003 |
Deposit |
||
| Lease Expires |
2013 |
Term & Option |
10 Yr. w/Option |
|
| Bldg./Area Description |
Urban Brick Bldg. |
Square Footage |
8,000 plus Large Patio |
|
| Seats, Pkg, Zoning, etc. |
This facility rents a nearby parking lot; and an adjacent lot and street parking |
|||
| are available. Business has Type 47 (11-2 am) Alcohol permit w/50% food sales; Dancing/Cabaret Permit |
||||
| Reason for Sale |
Retirement |
|||
| Financial Summary |
Current Yr. Annual |
2003 / Owner to Prove |
2002 / Owner to Prove |
|
| Gross Revenue |
$1,000,000 |
$1,000,000 |
$1,000,000 |
|
| COGS |
||||
| Rent / CAM |
$96,000 |
$96,000 |
$96,000 |
|
| Payroll |
||||
| Net Profit (before tax) |
||||
| Discretionary Cash |
Not Applicable |
Not Applicable |
Not Applicable |
|
| Expense Breakdown |
||||
| Included in Sale |
Assets |
Liabilities |
||
| FF&E Included |
> $400,000 |
Lease Obligations |
$0 |
|
| Inventory Included |
$25,000 |
Debt Included |
$0 |
|
| Other Assets Included |
~4 Licenses |
Other Liabilities |
$0 |
|
| Working Capital (not incl) |
Return on Sale Price |
|||
| Asking Price |
$750,000 |
Owner Financing/Terms |
Not Offered |
|
| Earnest Money Dep. |
$30,000 |
Down Payment |
$750,000 |
|
|
Opportunity Summary |
|
|
Headline |
Hollywood Nightclub / Restaurant with Prime Location |
| Summary |
This well known club is located just off of Hollywood Boulevard in a fantastic location. It generates $1.0 million in revenue, and is a turnkey operation for a new owner. The club / restaurant is 8,000 sq. ft. and holds 650 persons, with a large patio in the rear. The Club has two main bars, two main dancing / eating / lounging rooms, 2 DJ booths, as well as a large stage. |
| Facilities / Assets |
Approximately $400,000 in hard assets are included in the sale, including the fully outfitted kitchen ($75k); two build out bars ($100k); a fantastic sound and lighting system ($65k+); new sprinklers ($75k) and plumbing ($85k); alcohol inventory ($25k), furniture, etcÉ Licenses / permits that will transfer in the sale include: Type 47 liquor license (11 am - 2 am; 50% food sales); Conditional use permit; Entertainment / Cabaret / Dancing permits and Catering Permit so liquor may be served offsite. The facility is 8,000 sq. ft. with a 10 year lease, and monthly rent of $13,000. Parking is also leased at an additional $600/month (approx.) |
| Competition |
The Hollywood / West Hollywood is a highly competitive club market. This club, however, is considered well established. |
| Growth Potential |
There is a great deal of growth potential depending on the new owner's promotional ability. |
| Other |
|