Available

Price: $139,000

Location: Chicago

Industry: Entertainment

Listing ID: 1J231

Gaming, Pool, Billiards, Snooker, Food, Beverage, Entertainment, Chicago, Cook County.

Listing Details

Total Sales: $246,358

SDE: $72,000

Cash Flow: $72,000

FFE: $75,000

Inventory: $1,000

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

Historical Summary:

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, the current owners purchased the business and the property in 2005. Located in a well-traveled neighborhood of this Chicago community with high vehicle traffic and very supportive neighboring businesses.

The business has two licenses, a “retail food establishment” license and a “public place of amusement” license. You can charge a cover or door charge with the PPA 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 “public place of amusement” 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 perk is that “over 21” customers can bring in their own beer or wine. A new owner can add a liquor license as some groundwork has already been laid for that.

The most important highlight of this business is that it is owned by a mostly 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.

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.