North Hollywood Area Neighborhood Bar – Local Customer Favorite!

North Hollywood Area Neighborhood Bar – Local Customer Favorite!

North Hollywood, CA


Asking 
$495,000
Gross Revenue 
$816,000
Potential Cash Flow 
$247,000

This part-time owner operated North Hollywood neighborhood bar with a Type 47 Liquor License has been a local customer favorite for decades. The venue boasts stellar main street visibility, onsite parking, service until 2 am, as well as an efficient kitchen from which they provide patrons typical bar fare. Patrons enjoy a variety of beer from the extensive tap system, coupled with the convivial bar atmosphere to view sports or play billiards, darts, video games and more.

Inventory 
10000

Accounts Receivable Included in Asking
No

Facilities

This 3,000 square foot venue, which will lease for $7k/month plus $700 in common area maintenance expense (CAM) will have a new 5 year lease with two five year options. All of the business’s furniture, fixtures, equipment and liquor license will be included. Approximately $10,000 in inventory will be sold at cost at close.


Competition

While the greater North Hollywood area has several bars and entertainment venues, this venue has been a perennial favorite for decades. As a result, except for COVID closures (which they have bounced back from with a vengeance) they have enjoyed remarkably stable income.


Growth & Expansion

This is one of those types of venues that new management may want to keep as is, ad the status quo has worked well for decades. The bar could benefit from a full-time onsite working owner with hospitality industry experience. A customer service-oriented owner operator should not only ensure stellar customer service to help maximum revenues, but it should also minimize payroll costs and other expenses. Industry veterans may introduce additional measures to bolster revenues and profits.


Support & Training

2 weeks at 20 hours per week or as negotiated


Reason for Selling

Retirement


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