Business Description
For sale is a 45+-year-old New Jersey venue with a $1M liquor license included. The property has three areas: an indoor restaurant and bar, outdoor dining and bar, an upstairs lounge, a nightclub, and a banquet facility. They offer dining and drinks, nightlife, and private events.
Their multipurpose facility is the only one in the area that provides a nightclub lounge after hours, a big attraction for guests and private parties. As a result, the company has a huge customer database and clientele ranging from 30-55-year-olds, primarily women.
They have had explosive revenue growth from 2020-2021 due to the lifting of restrictions from the pandemic. During 2020 they were shut down for four months, could only utilize outdoor dining, and could not host private events. 85%-90% of revenue comes from dining and bar during hours of operation, and the remaining percentage comes from special events.
The owner plans to retire and has 45 staff members and 35 independent contractors who he is confident will stay with the company post-sale
| 2019 | 2020 | 2021 | 2022 |
2023 (Jan-Aug) |
|
| Revenue | $3,263,168 | $3,420,526 | $6,568,780 | $5,945,565 | $4,443,099 |
| SDE | $324,061 | $921,527 | $2,684,118 | $2,447,576 | $1,495,887 |