Bar & Grill in Major Developing Area
With continual development in the area, this bar and grill is in the prime location for success! When it comes to the developing areas in Omaha, this is one to watch. The neighboring $200MM project will bring apartment complexes, 300,000 sq. ft. of office space and neighborhood retail and an amphitheater in close proximity to this retail hot spot. Sporting a unique theme that lures in a mix of consistent locals and fresh out of town visitors, the bar hosts competitive dart leagues throughout the week, Keno and karaoke on the weekends to keep the place busy.This business has been open for 9 years and has a capacity of 105 patrons. They recently added a cozy fenced in patio with wind protection for smokers. There are two full time bartenders/ servers and five part-time servers/bartenders that take care of the customers. The lease is $4,635 per month for 2,500 square feet. Selling the business as a part of a planned retirement strategy, the current owner is responsible for cleaning, inventory management, vendor relations, bookkeeping, bank deposits and payroll. There are growth opportunities in advertising on social media, establishing B2B relationships with nearby businesses and other forms of low cost or free advertising
- Years in Business: 9
- Location and Service Area: Prime expanding retail location in southern Metropolitan Omaha Area
- Capacity: 105
- Lease: $4,635 per month for 2,500 sq. ft.
- Kitchen leased for $1,500/month
- Reason for Selling: Planned retirement strategy
- Employees: 2 FT Bartenders/Servers/Keno and 4 PT Servers
- Bar:11AM-2AM Mon.-Fri.,2PM-2AM Sat. and Sun.
- Grill: Mon.-Fri. 11AM-2PM, 4:30 -10PM, Sat.-Sun. 2:30 -10PM
- Seller Training Period: 90 Days
- Growth Opportunities: Use social media venues, B2B marketing with nearby establishments, advertise
- Current Owner’s Responsibilities: Cleaning, inventory management, vendor relations, bookkeeping, bank deposits, payroll
- List Price: $148,000
- Gross Sales 2016: $330,451
- $54,723 in sales during January and February 2017
- Gross Sales 2015: $354,928
- Gross Sales 2014: $350,069
- Assets Included in Purchase: $68,300
- Equipment: Walk in Freezer/fridge $18,000, kitchen hood $13,700, dishwasher, misc. equipment
- Intangible Assets: Website
- Build-out: $180,000
- Inventory: $8,000
*amounts may vary
The Firm Business Brokerage used a Cost to Create Valuation methodology to determine the Purchase Price of the business.
Cost to Create Valuation: The startup expenses and risk associated with starting this business far outweigh the reduced expenses incurred in purchasing this turnkey business.
Purchase Price: $148,000
30%Buyer Down Payment: $44,400
20%Seller Financing: $29,600
50%Bank Loan: $74,000
Seller Financing 5-year term at a rate of 4.5% equals a monthly loan payment of $552.
Bank Loan 7-year term at a rate of 5.25% equals a monthly loan payment of $1,055.
Please note that the decision of whether to extend a loan on any particular sale belongs to the bank, and this document does not guarantee specific terms or verify that financing is available.
Offer Price: $
% Buyer Cash Down at Closing: $
% Seller Carry Back via Promissory Note: $
year term at a rate of %
% of Purchase Price secured by Buyer and Seller
Total Bank Loan Need: $
% of Purchase Price
Desired Loan Type:
Desired Bank Terms: year term at a rate of %
Total Business Assets, Inventory, and A/R: $
Total Undercollateralized Loan: $
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Fixed Charge Coverage Ratio
The bank will require a minimum ratio of 1.5 to be lendable.
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Buyer's Net Operating Income (NOI)
The amount of money the Buyer will retain as profit.
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Buyer's Return on Investment (ROI)
The rate of return on the Buyer's down payment.
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