Licensed Bar In A Prestigious Port Town For Sale

Business description

Licensed Bar in a Prestigious Port Town of Mallorca

This popular and busy contemporary Bar was founded by the Vendors after they travelled to the area on holiday. This busy Port Town in Mallorca is a popular destination for the rich and famous and the Bar has become the venue of choice due to the substantial investment and innovative input from the Vendors. Since its opening the Bar has become a well known and respected destination venue with a reputation for the quality of its cocktail and drinks selection and stylish environment.
The Bar has a loyal following of both locals and regular visitors to the island. The Bar could also enjoy revenues from catering for parties and other special events.

This successful business offers customers an opportunity to spend time enjoying a discreet drink in a relaxed and stylish atmosphere, from a comprehensive menu of the highest quality beers and wines and impressive cocktail list. The bar has a late night music as well as dancing and karaoke.

This business has at this time significant scope for growth and an increase in revenues. This can be achieved for example by taking advantage of the current volume of custom and expanding the food offer through the bistro. The Bar also limits the current trading hours so an extension to this would also benefit the sales and profit.

The business is further supported by exemplary relations with key suppliers who have helped to ensure that customer service and product quality is never compromised and that customers receive the highest possible quality of service, this has lead to the existing high levels of return custom. This commitment to suppliers and customers has underpinned this business’s abilities in service quality and sustained business success.

Customer Service

The Vendors consider simply that happy customers come back and on that basis have maintained levels of product and service quality intended to best guarantee that happiness. The results of this commitment are evident in the degree of return custom and the reach of its reputation.

Key strengths

The business is well established with a strong, growing customer base managed by a comprehensive and sophisticated blend of management expertise and service commitment. The business retains a high level of repeat business, particularly among a number of customers returning on a regular basis and having done since opening. The Bar has earned an outstanding reputation for its quality service, reliability, sophisticated and stylish atmosphere, value for money and experienced staff.

The quality of the location cannot be overstated since it is a key differentiator in the marketplace and a considerable asset, it is also responsible for the high visibility and the attending passing custom bringing unique first time visits on a regular basis.

Financial Information

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The business is financially stable with low overheads, positive cash flow and has shown consistent growth since opening.

Current turnover is on target for circa euro 300,000 with an adjusted net profit of circa euro 100,000 annually.

Property information

Real Estate:

Lease

Location:

The welcoming, comfortable and contemporary Bar currently occupies a prominent ground floor, street level unit just off a main road with visible signage and available town centre parking, which allows for an open and inviting entry to this stylish and successful Bar.

There is also the added benefit of a substantial 3 bedroom owners flat above the bar which boasts a balcony, sun roof terrace and hydrobath.

Business Operation

Expansion potential:

The current market for this business is growing and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of any growth as it occurs.

Competition / Market:

The Vendors have invested significantly and successfully in the establishment of a well known brand and used advertising only sparingly, as a high proportion of the business's revenue has been due to its prominent position, excellent reputation for quality and service and strong word of mouth recommendation. There are excellent opportunities to increase this activity and market the business more aggressively to significantly increase turnover.

Reasons for selling:

The Vendors started the Bar as a retirement business after selling their previous company and feel they have laid the foundations for a first class establishment which now needs a fresh injection of energy and enthusiaism from a new owner.

Employees:

The business employs various part time/casual staff on an ‘as required’ basis to assist the Vendors with the day to day operations.

Other information

Support & training:

The current owner will provide all necessary training and all relevant contacts to allow continuity of trading.