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Opportunities

Beer & Wings Sports Bar in Sioux City

Sold

CASH FLOW
$116,754

Specifications

  • Price
    $125,000

  • Revenue
    $848,288

  • Cash Flow
    $116,754

  • Location
    Sioux City

  • Equipment
    $259,000

  • Inventory
    $15,000

  • Profit Margin
    14%

  • Employees
    6 Line Cooks, 12 Bartenders/Waitresses, 1 Manager

  • Reason for Sale
    Seller has other businesses he would like to actively grow

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 $125,000 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. 

Business Highlights

  • 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

Financial Highlights

  • List Price: $125,000
  • 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 StatementP&L Statement
January - October 3		Notes
2017
GROSS SALES$636,216
Annualized$848,288
Net Income Shown on Financial Statement$-39,616
ADDBACKS
Compensation to Owner$17,000Absentee owner's salary
Manager's Salary$55,192Run bar as Owner/Operator
11% Tax on total W2 Salaries$7,941
Depreciation$25,155Non-cash item
Amortization$20,769Non-onward going expense
Interest$1,125Non-onward going expense
TOTAL ADDBACKS$127,182
Seller's Cash Flow = Total Addbacks + Net Income$87,566
Annualized$116,755
Profit Margin13.76 %

 

  • In just under 1 year, the bar is projected to reach nearly $850K in sales and profit over $116,000.

Special Features

  • 20 TV’s for sports lovers to watch their favorite teams
  • Dart board and arcade games in the party room

Employees

  • 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.

Equipment

  • $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!

Sample Menu

Baskets
Reuben
Chicken Sandwich
Turkey Club
Philly
Grilled Chicken
B.L.T.

 

Burgers
 
Swish Mushroom
Bacon Cheese
Bleu Cheese Bacon
Hawaiian Burger

Valuation Details

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 $125,000 you can own a fully-staffed, brand new bar!

 

The List Price for the business is set at $125,000.

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Click to download NDA form

Print, sign and send to:

210 N 78th St. 2nd Floor
Omaha, NE 68114

Or fax to:

f 402.939.0857

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The Firm makes no warranties or representation in consideration to the information provided above. All communication regarding this business must occur directly with The Firm Advisors, LLC. The Firm is not a real estate brokerage and does not sell real estate. The Firm solely advises on exit strategy.