Sports Bar

Sports Bar

Location: Bangkok

Listing ID# BKK13894

6,000,000THB

BUSINESS SUMMARY

(UPDATE! The asking price has been reduced from 7,500,000 baht to 6,000,000 baht.) Well established after nine years of profitable trade, this Bangkok Sports Bar sits in a well patronised soi in the lower Sukhumvit region of the city. Live television coverage of all major sporting events has made the establishment popular with the expatriate community, and tourists are also known to visit when in town. A website keeps sports fans aware of all upcoming events and local sports clubs have built up an affiliation.

Housed within a four storey property, the bar enjoys annual net profits of approximately 3,500,000 baht after all overheads have been deducted from annual receipts that total roughly 8,500,000 baht. The main expenses are monthly rent, set at 65,000 baht, and monthly salaries that total 150,000 baht for 20 full time employees (there are also five part time staff used when necessary). Although the lease expires in early 2010 there is a provision to extend it for a further six years.

The bar utilises the first two floors, with the upper floors used for an office, a kitchen, a spare room, maid’s quarters and living accommodation for up to four people. Assets valued at 1,000,000 baht will be passed on, and these include seven televisions and a pool table. The owner has a regular day job and has grown tired of running the bar in his evenings; he will therefore countenance a sale to provide himself with more spare time. Although the sale is not urgent, an attractive asking price that equates to roughly two times earnings has been set. New asking price: 6,000,000 baht.

[sunbelt][/sunbelt]