Kenmore, Queensland 4069
The Retro Bar Business For Sale #3643
For Sale | $95,000 + SAV
There's an opportunity to grow both the function and live music side of the business based on the quality and reputation of the venue and with little competition in the area.
The bar currently opens Thu Sat from 5pm with the occasional Wed night and Sunday afternoon session; however, the bar is licensed from 10am to midnight 7 days/week giving opportunity to increase the opening hours. The owner has recently begun to offer the bar as a rehearsal studio when it is not open as a bar (i.e. Mon, Tues, Wed 6pm-10pm, Sun 1-5pm & 6-10pm).
A passion for live music/entertainment would be an advantage. Hospitality can be learnt. The current owner had no previous hospitality experience.
Thu Sat (5pm midnight)
1 Wed/month (7pm to 10pm)
Rehearsal Studio: Mon, Tues & Wed 6-10pm, Sun 1-5pm & 6-10pm
Lease expires April 2019 with a further 2-year option
Owner/operator with up to 3 casual staff on busy nights. The casual staff are able to operate the bar without the owner being present.
Reason for Sale
The owner wants to retire having established a profitable business and continue to enjoy the bar as a customer and musician.
About the Business
The Retro Bar is a unique retro-styled lounge bar based in Kenmore (10km west of Brisbane CBD) that offers live music, functions, hospitality and rehearsal sessions.
Whilst people come to The Retro Bar for a function (e.g. birthday party), live music or rehearsal session, they also find a comfortable bar with great ambience and hospitality.
The bar is licensed for 100 people until midnight offering craft beers, wines, cocktails, pizzas and other tasty finger food freshly prepared in a galley kitchen.
The bar comes complete with a stage, dance floor, stage lights, PA system, front of house and fold back speakers, 5-piece drum kit, bass amp, acoustic panels, mics, leads and stands.
All you need to do is walk in. You won't need to stress about finding entertainment as there's plenty of forward bookings and a long list of people who want to play at The Retro Bar (see www.theretrobar.com.au & scroll down).
The bar has a turnover of $220,000 pa based on 3 nights/week (Thu-Sat) plus 1 Wed night/month and venue hire for rehearsal sessions and is profitable. It is currently run by the owner with up to three casual bar/food staff. Both turnover and profitability are growing based on the increasing number of functions and growing popularity of the live music and rehearsal studio sessions.
There is an option to extend the current lease (expires in April 2019) for another 2 years with the annual rent reviews already defined (i.e. no lease negotiations for 2+ years).
The Retro Bar has a well designed website (see www.theretrobar.com.au) and a large following on social media (see www.facebook.com/theretrobarkenmore www.instagram.com/theretrobarkenmore ).
A weekly newsletter is emailed to 1100+ customers promoting upcoming live music events.
The Retro Bar has a Youtube channel where you can see videos from past live music events (see https://www.youtube.com/channel/UClpLI3JGBPudcizZNMboJAw )
The bar is set-up with stage lighting to film videos of bands, which provides yet another income stream.
The owner has recently begun offering the bar as a rehearsal studio for bands and has quickly gained on-going bookings. (see www.theretrobar.com.au/rehearsal-studio ).
The Retro Bar's weekly gig guide is read out 4 times/day on 4ZZZ (i.e. the bar is advertised across Brisbane).
Renowned for its live music, friendly staff and great service, the bar has excellent ratings and reviews on Google.
The bar was established in 2010. The owner retired from corporate business and bought the bar in 2015 with no prior hospitality experience. It's been the highlight of his working life.
- Ideal for an Owner Operator
- 3 Casual Staff members
- Easy Tapa's Menu
- Liquor License
- Beer on Tap
- Good Selection of Wine
- Great Local Patronage
- Powerful Niche Market
- Well Positioned
- Established customer base
- Ideal for Functions
- Revenue $220,000 pa
- Rent $44,000 pa
- Just over two and half years remaining on the lease.
- 2 year renewal option
2071 Moggill Road, Kenmore, QLD 4069
Selling Price Business: $95,000 + SAV
Broker: Ray Dye 0411 428 776