MergerPlace

Full Service Urban Bar

Washington (King)


  • Asking Price: $275,000
  • Gross Income: $422,850
  • Cash Flow: $127,117
  • Real Estate: Not Disclosed
  • Inventory: $5,500
  • FF&E: $3,800
  • Listing ID: #216279
  • Established: 2016
  • Employees: 0 FT/ 8 PT

Business Description

This great business opportunity is a comfortable, stylish, urban bar located in a very popular Seattle neighborhood. With a focus on scratch-made, remarkable and unique craft cocktails served in a warm, cozy and eclectic atmosphere; this Northwest neighborhood lounge is a hot spot for affluent young professionals. Unbeatable location with great street visibility and an attractive lease. Dim lighting, antique furnishings and decor invite patrons into a funky and hip ambiance, where customers come to meet and make friends for an enjoyable experience. Sale includes over $50,000 in leasehold improvements, furniture, fixtures and equipment.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Washington
County: King

Company Information

Year Established: 2016
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 0 FT/ 8 PT

Financial Information

Asking Price: $275,000
Gross Revenue: $422,850
Cash Flow: $127,117
FF&E: $3,800
Inventory: $5,500
Seller Financing Available: No

Property Information

Facilities:

The business is located in a thriving, well known and popular neighborhood known for its restaurants, coffee shops, bars and parks. The business is located on the street level of a mixed-use commercial building. The fantastic location offers great visibility to automobile and foot traffic. Dim lighting, antique furnishings and decor and a unique hand-made raw wood slab bar create a welcoming comfortable ambiance similar to stepping into a friend’s home. Over $50,000 in leasehold improvements, furniture, fixtures and equipment. There is beautiful outdoor patio seating in the summer. The lease is $2,950/month with a 5-year option to renew.

Growth & expansion opportunities:

Opening the bar earlier is a great way to drive revenues. Out of the 168 hours in the week, the bar is currently only open for 37 hours. Clients have requested earlier opening hours and there is a demand to keep the bar open later on Friday and Saturday nights as well. There is also a demand to utilize the space for parties and events. The current owners accommodate requests occasionally but there is much room to grow this part of the business.

Competition:

There are several bars in close proximity to the business, however, the creative, one-of-a-kind cocktails and unique atmosphere the business provides makes this business stand out from the competition. Consumers have elevated their cocktail game, abandoning the sour-mix margaritas and chocolate syrup-loaded mudslides of the 90s in favor of signature Old-Fashioned variations and Palomas with house-infused jalapeño agave syrup. Generally speaking, tastes have evolved and there is a greater interest in craft cocktails than ever before. Cocktail culture is exciting, fresh and oh so "instagramable". Social media and Instagram specifically have encouraged bartenders to think differently and enhance the presentation of the drinks by using unique glasses and garnish. Customers expect more from their bartenders than just opening a beer and pouring a shot. What consumers are demanding are drinks they have never tried before and expect the bartender to guide these new beverage experiences. Cocktails are now trending toward new spirits, many local and small-batch that include non-traditional ingredients such as herbs and fruit. Few people choose a bar simply because of its beer. Instead, people go for the experience, the culture and the vibe.

Reason for selling:

One owner is moving out of state.

Support & Training:

Will train for 2 weeks @ no cost. This trendy bar serves upscale craft cocktails, local beers, wines and other distilled beverages from the Seattle area and Washington State as well as tasty small bites such as nuts, hummus and flatbread and olive tapenade and crackers. State liquor license and food handlers license is required. Experience in the restaurant/hospitality industry is recommended. Business management skills, bookkeeping, basic accounting, hospitality service, knowledge of mixology, marketing, public relations and social media skills are a plus.

Contact Business Seller

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Business Listed By:

Claudia Smith

Murphy Business Brokers