Santa Monica Beer & Wine Bar with no Food Required – Eclectic Concept!
Santa Monica, CA
This recently refurbished and themed fully absentee-operated Santa Monica beer and wine bar with no food requirement is a neighborhood favorite that boasts an eclectic concept and draws the majority of its traffic from young, professional Westside hipsters, local South Santa Monica residents as well as from a healthy dose of city college students. The venue has historically thrived with limited operating hours by maintaining health margins and capitalizing on its college area location, parking lot and customer embraced concept. The bar offers patrons music entertainment provided by a disc jockey (DJ) but no live entertainment or dancing.
The 1,300 square foot facility is operating at a reduced rate of $2,500 per month during the pandemic until 4/30/23, at which time it will go to fair market value with 3% annual increases on its 5-year option. The sale includes all the facility’s furniture, fixtures and equipment, as well as the type 42 beer and wine license. The facility boats a new tap system and a custom-built walk-in cooler, which has reduced the electric bill by nearly 20%. What’s more, the new system provides 125 beers per keg (due to reduced foam and spoilage) versus the old system’s 100 per keg, which should result in higher margins going forward. The facility includes a manager’s office and has a parking lot with approximately 20 spaces.
The Santa Monica bar market is divided into 4 distinct categories. There is the Main Street Santa Monica market, the 3rd Street Promenade / Montana market, the East Santa Monica / Brentwood market, and the Santa Monica City College market. Within the Santa Monica City College market, this venue faces some direct competition, but dominates its neighborhood.
The venue could tremendously benefit from an experienced, customer service oriented owner-operator that can not only ensure a stellar customer experience, but that can also help to maximize revenues while minimized wage and other expenses. A new owner may consider opening earlier to attract the daytime or happy hour crowd, during daytime or weekend sporting events or otherwise promoting an updated wine offering. The bar could also implement limited food service that does not require a hood.
Seller will train for 2 weeks at 20 hours per week or as negotiated