Beer & Wings Sports Bar in Sioux City
Over $800,000 in build-out and brand-new equipment make this bar a turnkey operation for any buyer. Known for some of the best beer and wings in Sioux City, a new owner could take that reputation and grow it through expanding catering and take-out services. As the bar is fully staffed, the owner is absentee, and is looking to sell so he can focus on actively growing his other companies.
6 Line Cooks keep the kitchen running late into the night, offering up all your favorite pub food. Covering the bar and dining tables are 12 Waitresses/Bartenders. The bar also has a great Manager in place to oversee employees and operations for the owner, who is living out of state.
The bar is located in a 6,000-sq. ft. space in a strip mall. Patrons can view their favorite sports teams from any of the 20 TV’s throughout the bar. A party room with arcade games and a dart board are available for large gatherings.
Open for just under 1 year, the seller spent over $800,000 in getting the bar up and running. At a $190,000 price, this is a steal for any aspiring bar owner. A true turnkey operation that is “move-in” ready, this location has great potential to become a family destination for years to come.
- Years in Business: Under 1 year
- Location and Service Area: Sioux City, Iowa
- Building: 6,000 sq. ft. – includes party room with dart board and arcade games; 20 TV’s throughout
- Reason for Selling: Seller has other businesses he would like to actively grow
- Employees: 6 Line Cooks, 12 Bartenders/Waitresses, 1 Manager
- Hours: Sun – Thurs 11AM to 12AM, Fri – Sat 11AM to 1AM
- Kitchen Hours: Sun – Thurs 11AM to 10:30PM, Fri – Sat 11AM to Midnight
- Seller Training Period: 90 days
- Growth Opportunities: Catering – bar is set up for catering but does not promote it. Discontinue franchise – make the bar your own!
- Current Owner’s Responsibilities: Absentee
- List Price: $190,000
- 2017 Gross Sales: $848,288 Annualized
- 2017 Cash Flow: $116,754 Annualized
- Profit Margin: 14%
- Assets Included in Purchase:
- Equipment: $259,000 - All brand new! - Griddle, prep table, slicer, pans, oven, coolers, freezers, and more.
- Intangible Assets: Active Facebook page, award-winning food
- Build-out: $807,471
- Inventory: $15,000
*amounts may vary
Cash Flow Analysis
|Description of Financial Statement||P&L Statement|
January - October 3
|Net Income Shown on Financial Statement||$-39,616|
|Compensation to Owner||$17,000||Absentee owner's salary|
|Manager's Salary||$55,192||Run bar as Owner/Operator|
|11% Tax on total W2 Salaries||$7,941|
|Amortization||$20,769||Non-onward going expense|
|Interest||$1,125||Non-onward going expense|
|Seller's Cash Flow = Total Addbacks + Net Income||$87,566|
|Profit Margin||13.76 %|
- In just under 1 year, the bar is projected to reach nearly $850K in sales and profit over $116,000.
- 20 TV’s for sports lovers to watch their favorite teams
- Dart board and arcade games in the party room
- 1 FT Manager
- 6 Line cooks
- 12 Waitresses/Bartenders
Owner is absentee! However, run the bar as an Owner/Operator to maintain Cash Flow and profit margin.
- $259,000 in brand new equipment is included in the purchase, including the following:
- POS System - $20,739
- Oven/shelf set/prep table/fryer - $14,951
- Worktable/bar sink/ice chest - $14,594
- Neon signs - $13,080
- Reach-in freezer - $4,229
- Broiler/griddle - $4,197
- And more!
The Firm Business Brokerage used a Cost-to-Create methodology to determine the Purchase Price of the business. Over $800,000 was spent in getting this bar up and running, and for just $190,000 you can own a fully-staffed, brand new bar!
The List Price for the business is set at $190,000.
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