The Retro Bar Business For Sale #3643

Yesterday, 1:38pm

Location:
Kenmore 4069 > Brisbane - Greater > Queensland

Investment level:
$95,000 (Negotiable) + SAV

Type:
Business

Industry:
Food & Drink > Pubs, Bars & Clubs > Pubs Bars

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Summary

The Retro Bar is a unique retro-styled lounge bar offering functions, live music, hospitality and rehearsal sessions that has a solid growth trajectory and great reputation.

Revenue

$220,000 pa

Rent

$42,000 pa

Expenses

$61,000 pa

Potential

There’s an opportunity to grow both the function and live music side of the business based on the quality and reputation of the venue and with little competition in the area. The bar basically trades 3 days/week for 48 weeks/year; hence there’s scope to increase the operating hours. The owner has recently begun to offer the bar as a rehearsal studio when it is not open as a bar.

Skills

A passion for live music/entertainment would be an advantage. Hospitality can be learnt. The current owner had no previous hospitality experience.

Hours

Wed 7pm - 10pm (once/mth)
Thu - Sat 5pm to midnight
Sun 3pm 7pm (once/mth)

Lease

Expires Apr 2019 with 2-yr option

Employees

Up to 3 casuals + owner on busy nights, The staff can run the bar without the owner being present.

Reason for Sale

The owner wants to retire and continue to enjoy the bar as a customer and musician.
About the Business

About the Business

The Retro Bar is a unique retro-styled lounge bar based in Kenmore (10km west of Brisbane CBD) that offers live music, functions, hospitality and rehearsal sessions.

Whilst people come to The Retro Bar for a function (e.g. birthday party), live music or rehearsal session, they also find a comfortable bar with great ambience and hospitality.
The bar is licensed for 100 people until midnight offering craft beers, wines, cocktails, pizzas and other tasty finger food freshly prepared in a galley kitchen.

The bar comes complete with a stage, dance floor, stage lights, PA system, front of house and fold back speakers, 5-piece drum kit, bass amp, acoustic panels, mics, leads and stands. All you need to do is walk in.

You won’t need to stress about finding entertainment as there’s plenty of forward bookings and a long list of people who want to play at The Retro Bar (see www.theretrobar.com.au & scroll down).

The bar has a turnover of $220,000 pa and is profitable. It is currently run by the owner with up to three casual bar/food staff. Both turnover and profitability are growing based on the increasing number of functions and growing popularity of the live music and rehearsal studio sessions.

There is an option to extend the current lease (expires in April 2019) for another 2 years with the annual rent reviews already defined (i.e. no lease negotiations for 2+ years).

The Retro Bar has a well designed website (see www.theretrobar.com.au) and a large following on social media (see www.facebook.com/theretrobarkenmore www.instagram.com/theretrobarkenmore ). A weekly newsletter is emailed to 1100+ customers promoting upcoming live music events.

The Retro Bar has a Youtube channel where you can see videos from past live music events ( see https://www.youtube.com/channel/UClpLI3JGBPudcizZNMboJAw ). The bar is set-up with stage lighting to film videos of bands, which provides yet another income stream.

The owner has recently begun offering the bar as a rehearsal studio for bands and has quickly gained on-going bookings. (see www.theretrobar.com.au/rehearsal-studio ).

The Retro Bar’s weekly gig guide is read out 4 times/day on 4ZZZ (i.e. the bar is advertised across Brisbane).

Renowned for its live music, friendly staff and great service, the bar has excellent ratings and reviews on Google.

History

The bar was established in 2010. The current owner bought it in April 2015.

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