Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Adult Club w. Owner Financing
(Recreational , Adult Clubs )
Sussex County , NJ
Listed Price: $ 375,000
Listing ID: ADCL164

Listing DetailsGross Revenue: $ 350,000
Cash Flow: $ 100,000
FFE: $ 175,000 (Included in Price)
Reason for Sale:

The purpose of this business opportunity is due to partner separation.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.


OperationsYear Established: 2010
Employees: 4
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 16500
Monthly Rent: $ 8,000
Square Footage: 2950
Facilities:


The business consists of a free-standing building located in Northern New Jersey, Sussex County, which consists of various communities with continued demand for this entertainment service. This successful retail facility which consist of approximately 2,900 square feet has a modern and attractive appearance. The facility also includes a three-bedroom residential apartment for owners use.


SummaryBusiness Description:

Well known modern gentlemen’s adult club located on an active and convenient state highway in Northern New Jersey. This highly successful adult club consist of a full line of adult entertainment and features full nudity, live entertainment, a dance stage, various areas for private dancing, sports, restaurant and dozens of HD TVs. The facility has been fully upgraded with a state-of-the-art sound system and an incredible lighting system. This is a BYOB establishment and the income is obtained strictly based on various services to the patrons. The company has a 2018 gross yearly income of approximately $350,000 and an estimated net yearly income of $100,000. This adult club consist of four employees who are unaware of the pending sale. The bar staff are paid based on a work shift time and the entertainers work on tips and are responsible to pay a percentage to the house. The payroll is primarily based on an hourly basis, or a weekly base salary, the staff is fully expected to remain post-closing, the monthly payroll expense is approximately $4,000. The business transaction will offer an assignable commercial lease which expires 2027, plus additional options available, monthly rent of $8,000 all in, cost per square foot is estimated at $33.10 and rent security of approximately $16,500. This is a dependable safe business opportunity. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.


Competition:

To the best of our knowledge, due to various circumstances including the unavailability of a certificate of occupancy, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business opportunity can be further expanded by the new operator by improving the existing marketing plan and the required local advertising. Additionally, the company has no web site and if adjusted can further develop the business yearly gross sales.


Financing/Terms:

Seller financing is available to a qualified buyer