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CO129 -Established Strip Club and Late License Bar

Asking Price: GBP 325000
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Business Location: United Kingdom » Hertfordshire » Hertfordshire 
Category: Leisure » Bars & Nightclubs
Description:
Established Strip Club and Late License Bar
Ref.CO129
Location Hertfordshire
Asking Price £325,000
This highly profitable and reputable business was established by the current owner in 2002, after taking over the business as a going concern. The premises was originally converted from a pub by the previous owner in 2000. The premises is a freehold property owned by Punch Taverns. After many successful years trading as a town centre public house, the previous owner took the opportunity to apply for a late license and with the full backing of punch, change the format of the establishment to a late license club with live striptease.

The present owner, looking to add to his portfolio of business acquired the operation in 2002, and immediately re-focused the marketing and began to develop a strong and unique brand identity.

With a move away from the “gentleman’s club” approach of central London, with high drinks prices, and entry costs, that business model entails, the owner took the business in another direction, with a more American approach. This new approach entails lower entry costs, and reasonable prices, including regular price levels for beer, wine and spirits. This draws in a younger clientele, and appeals to the young men’s culture prevalent in the U.K. With this approach in mind, the feel of the venue and marketing strategy is based on promoting directly to this demographic. Alongside the busy traffic from the local area, the business appeals to a large catchment area of towns to the North of London, with minimal direct competition across a large radius. With a fantastic on-line presence, and growing name, the venue also draws people from further a field for the profitable stag night trade.
Financial Information:  
Annual gross sales: (GBP) N/A
Yearly Revenue: (GBP)
Total yearly sales revenue		 400000
Net Profit: (GBP)
Total profit before taxes		 N/A
General Information:  
Business Area: N.A.
Year Established: 2002
Is Relocatable?:
 No
Business closed or an asset sale : No
Is Home based business?: No
Real estate status: No
Number of Employees: 10
No of trading hours: Monday – Thursday: 9:00 pm – 2:00 am Friday / Saturday: 9:00 pm – 3:00 am
Reasons for selling:
 The vendor has enjoyed building the business to the current operation, but feels it will be best grown to the next level under new ownership.
Market competition and expansion:
 The business has conducted minimal direct print advertising with promotion in local press intermittently . Instead, the vendor from the outset has focused on a fantastic web presences, with exceptional search engine optimisation, and a web presence that belies the size of the operation.
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