Thousand Oaks Area Restaurant, Bar & Lounge w/Entertainment & 4 Patios
(ID: 1098076)
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$850,000
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$2,500,000
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$600,000
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$25,000
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Business Listed by LISTING BROKERThe Veld Group
Contact Broker:Ryan ClarkThe Veld GroupView All of My Listings
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Business Description
This upper scale combination restaurant, bar and lounge with
liquor, entertainment and four patios is a well-established
stable earner that offers its guests a comprehensive first
class dining and entertainment experience. The venue caters
to a sophisticated client base of high discretionary income
residents, business persons, commuters and beach goers
(passing through to and from Malibu) that come to indulge
from near and far. The facility boasts a complete kitchen with
a walk-in cooler, several dining rooms with private dining
areas, rooms and banquet areas, a full bar (with at least two
smaller bars), VIP cabanas, and multiple outdoor covered and
open air lounge and patio areas that can be dedicated to
simultaneous events.
About the Business
Year Established:
1998
Number of Employees:
45
Facilities:
This 5,900 square foot facility leases for roughly $11,500 per
month on a base and percentage of gross sales lease, plus
$2,400 for 35 parking spaces. The lease is until 2017 with one
5 year option. Official occupancy is reported to be 189
patrons plus additional on patios. Approximately $25,000 in
inventory will be sold at cost at close.
Market Outlook/Competition:
New management may seek to offer its loyal patrons daytime
brunch service. They may also seek to promote the
business�s unique ability to cater special events (wedding
receptions, bah mitzvahs, parties, corporate meetings). As
the venue provides stellar service in each of its current
areas, the buyer need only maintain the status quo to
successfully run the business; while focus growth efforts on
new areas. This full service restaurant, bar, lounge and entertainment /
special event venue has carved out a market niche catering to
its affluent middle aged plus loyal client base. As such, while
several competing dining and entertainment venues exist on
different levels, none provide the comprehensive first class
dining experience, sophisticated bar and lounge atmosphere,
and the type of overall music and entertainment ambiance that
this venue is able to create.
About the Sale
Reason For Selling:
Personal
Training/Support:
2 wks at 20 hrs/wk
