Cocktail Bar Under Management Profitable

General Description
Started in 2001 this under management very profitable bar is trading as strong as it did when it first opened its doors. In 2013 a significant refurbishment was undertaken on the bar which included a complete internal strip out and a refit of the whole premises. So a new owner does not need to spend anything on the business anytime soon.

Open 6 days a week at night
2016 turnover above $1m
Fit out in excellent condition
Owners do not work in the business - 100% staffed and managed
Gross profits of 67%
Very profitable under management

Potential
Whilst the business runs very successfully under management, a more hands on owner can continue to improve the business further and also save on wages.

The Civic area is continuing to grow and the financials for the business will support this with sales increasing each year. With further developments including apartments and Government and commercial tenants, it will only bring more customers to the area including this business.

Features
Liquor licence for 100
Surrounded by commercial and residential
Fit out in excellent condition
Easy operation to keep under management or insert yourself into the business

Premises
Nothing to spend just walk in
Fit out customised to ensure the high quality service and drink offerings

Location
Civic

Trading Hours
Monday to Saturday
5pm to 2am

Lease
Lease runs to April 2020
Option exercised runs to April 2025
Rent per week is $1,020 + GST

Financials
2016 over $1m
Gross Profits averaging 67%

Price
$395,000 + SAV
Stock at value approx $35,000

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