This business can get a liquor license to sell and serve alcohol. The business owner has met recently with the authorities and has been given the assurance that a liquor license can be achieved. The current owner does not want to get it but has set the table for someone else to get it with his help.
This business runs mostly absentee. There is a manager in place who has run it for the last several years.
Well-known for general entertainment for people who are adults to enjoy in the form of some gaming, but also pool, billiards, snooker, etc. Established in 1983. Located in a well-traveled neighborhood of this Chicago community with high vehicle traffic and very supportive neighboring businesses.
The business currently has two licenses, a “retail food establishment” license, and a “entertainment” related license. You can charge a cover or door charge with the entertainment license for events. The “retail food establishment” license allows you to make and serve food. This business has a kitchen cooking hood (black iron) already installed and can make almost any type of food, but currently just serves chicken wings, chicken tenders, nachos, mozzarella sticks, pizza puffs, pizza, french fries, cheese fries, onion rings, jalapeno poppers, fried mushrooms, candy bars, chips, coffee, soda, Red Bull, and bottled water. The entertainment-related license allows you to have as many video games, pool tables, and snooker tables as you can fit. It also allows you to have live entertainment and a cover charge, as mentioned. Another current perk is that “over 21” customers can bring in their own beer or wine. A new owner can add a liquor license as mentioned, since some groundwork has already been laid for that.
The most important highlight of this business is that it is owned by a primarily absentee owner. The owner has a manager who runs the day-to-day operations. You’ll never run out of storage space with the approximately 3,000 sq ft basement. There are cameras throughout that can be viewed online via a secure website.
Very nice, clean, and comfortable place to hang out and watch sports, drink with friends, or mingle. Tournaments for the various games can be set in motion, as was the case in prior years.
Gaming, Pool, Billiards, Snooker, Food, Beverage, Entertainment, Chicago, Cook County, Illinois for Sale.
Listing Details
Total Sales: $162,813
SDE: $42,000
Cash Flow: $42,000
FFE: $75,000
Inventory: $3,000
Reason For Sale:
Owner is absentee, checks in from time to time, want to relocate much of the time.
Training & Support:
As much as needed and discussed during the purchase process.
Operation
Year Established: 1983
Managers: 4
Absentee Owner?: Yes
Location
Monthly Rent: 6000
Facilities Information:
5000 sq ft with well equipped kitchen and 3000 sq ft basement.
Summary
Competition:
- This business has an unsurpassed historical presence with few of a similar type remaining anywhere in the metro area.
Potential Growth:
- This business recently added more gaming type machines, which will help. The kitchen is capable of a much bigger and broader menu. A new owner can add a liquor license as some groundwork has already been laid for that.