Social Lounge with Top Shelf Spirit, Cigars and their Amenities

Duval County, FL

Seller Financing Available

Cigar Lounge
Asking Price:$550,000
Inventory:$60,000
EBITDA:$135,000
Established Year:2022
Gross Revenue:$740,000
Rent:$9,500/Month
FF&E:$210,000
BUSINESS DESCRIPTION

The customers enjoy this special cigar bar which offers memberships to those who choose to have benefits of private rooms shared with other members and guests, private humidors and bottle lockers. This is a special cigar lounge with premium Spirts, walk-in cigar humidor and most importantly, there is a welcoming, friendly and excellent atmosphere. The lounge offers memberships with special benefits, discounted beverages, cigars, entertainment special performances, reserving exclusive seating areas. The establishment has a professional raised stage,(with ADA Ramp) with fixed lighting and sound system, built-in speakers, controlled sound board, providing the entertainers convenient direct plug-in connectors for their instruments.
Additionally, there are many TVs for hosting special events such as UFC fights, and a second full-service bar for the extra attendees for these special events.
The Point of Sale is a bar code system tied into the touch screen cash registers, for all beverages and cigars. The POS is remotely managed during business hours by a third-party contractor to prevent troublesome shutdowns, provide system upgrades, update product pricing etc.
There are two separate patio areas, front of the building and at the rear which is overlooking a quiet small Lake. Many customers do have snacks or dinners on these patios, which are supplied by an on-site food truck or delivery service by the next-door restaurant. (There is no kitchen on site). The Lounge does not object to the outside food services.
For the comfort of members and guests the establishment has seven large smoke eaters and there are Twenty-five Tons of cold air from air conditioning units for the 5,000 s/f.
The bar bottle inventory value is approximately $30,000 as well as the cigar humidor's inventory $30,000.
Hours: Tuesday to Sunday opening at 4:00 p.m. till midnight and beyond.


DETAILED INFORMATION
Location
Duval County, FL
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
5,000
Lease Expiration
31/12/2035
Employees
4
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Free standing masonry with Brick veneer, single story building constructed in 2011. The building was designed for occupancy for a night club. There are two patio areas front and, in the rear, of the building. There is an entertainment stage with stage lighting and professional sound board with built-in speakers and plug-in connections for musicians' instruments. The POS system and camera security system are setup for bar code scanning. Private humidors lockers for cigars and bottle storage for members. A second full-service bar is for special events
Competition
The lounge is located in a developed area and there are no other single free-standing buildings available for lease. Therefore, any new competitor will probably not find a location to open a lounge. As for the other cigar lounges, there are very few operating as a sophisticated cigar lounges and none nearby to this location. Internet advertising indicates 5 like-kind competitors spread out over the region of the city.
Growth & Expansion
The buyer will be best suited to promote a stronger social media presence to inform the customers and future customers of upcoming events, membership opportunities, and amenities of the lounge.
Financing
To a qualified operator, there maybe a ten percent carry-back note by seller.
Support & Training
The Seller will be part of the training and so will the key employee. The time to provide a buyer will be dependent upon the buyer's previous experiences.
Reason for Selling
Has several other out of state successful businesses and needs to sell!
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AJohn
Richwine
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AJohn Richwine