Games, Cocktail Bar & Events Venue

The Basement

Turnover circa: £210k

Adjusted Net Profit circa: £AOR

THE OPPORTUNITY

Name: The Basement

Location: Horley, Surrey

Type: Events Business

The business is a centrally located events space, located in the centre of Horley, Surrey. The business is located walking distance to Horley train station and located off the M23 which is a main commuter route to other areas including Gatwick Airport, Crawley, and London.

This unique business is a popular alternative to other group activities such as bowling etc. offering a high energy and thrilling alternative for group activities or celebrations and has seen consistent success from group bookings such as stag/hen doo’s, birthday parties, corporate events with venue hire options. On a Friday and Saturday evening, the venue is used as a nightclub experience with regular live DJ’s, capitalising on a multitude of revenue streams.

The business is made available so our vendor can focus on unrelated business ventures.

THE VENUE

The modern immersive venue offers varying interactive and enriching experiences including VIP karaoke room, AR darts, shuffleboard, pool, beer pong and table football, all of which are designed to complement the branding of the business. The venue has been extensively re-furbished offering a high end fit out ensuring no expense is needed to continue trading from this unique venue.

The business hosts a comprehensive bar with cocktails, beer, wines, and draught drinks. The venue offers the fully immersive experience, whilst capturing a captive audience. The business will be introducing hot food to their service offering to further capitalise on another lucrative revenue stream.

THE EXPERIENCES

The business is open to all and has attracted custom from businesses for corporate events, charities, birthdays, stag/hen do’s etc… whilst being available to smaller groups of families and friends making a refreshing change to a bowling venue. All of which have full access to the 2 x bars and a select menu of hot food.

Service offerings are as follows:

·        Traditional dart board

·        2 x AR Darts - available by lane hire.

·        2 x Shuffleboard - available by table hire.

·        2 x Pool Tables

·        Beer Pong

·        Boxing Machines

·        Karaoke Room – completely private VIP room completed with state-of-the-art custom lighting, seating and lit dance floor powered by a top of the range karaoke machine – available by the hour.

·        Club Night on Friday/Saturday nights with live DJ’s.

·        Table Football

MANAGEMENT AND EMPLOYEES

The business is overseen by the owners with two full time and 3 part time staff members in place, with doormen provided by an external contractor. The opportunity is open to allow a full-time manager to manage the business for a hands-off operator or for the owners to manage themselves.

GROWTH OPPORTUNITIES

Increase operational hours:

The business has built an excellent brand and local presence with limited operating hours between 5pm and 11pm on Wednesday/Thursday, 12pm and 1am Friday/Saturday and 12pm and 10pm on Sundays, which could be expanded to include working hours Monday to Friday to increase the potential customer base to include more corporate bookings during daytime hours.

Increase floor space:

The venue has an additional floor of the premises which has not yet been converted and offers scope to accommodate additional space for service diversification and increase capacity. Some of the uses of this space could include the introduction of laser tag. The laser tag industry in the UK is part of a larger, vibrant global market that's expected to reach £508 million by 2028, growing at a compound annual growth rate (CAGR) of approximately 7.2% from 2021 to 2028.

Additional Venues:

The business has built an excellent brand and local presence with several thousand followers on social media and excellent reviews, providing an excellent springboard for additional locations to be established in nearby cities.

Facebook: 2,146 followers

Instagram: 803 followers

TikTok: 2238 followers

Franchise:

The brand lends itself well to a franchise model to expand the brand to a nationally recognised brand, complimented by the established initial location and increased operational hours.

PREMESIS

The premises is a ground floor/underground unit off a busy road with nearby parking available for customers in the town’s main car park for customers on consort way. There is an additional floor that has not been converted for use yet offering scope to expand with the available floorspace already available.

The premises is held by the limited company at £40,000 per annum on a 6-year lease with 4 years remaining and a break clause in 2025.

The vendor has made significant improvements to the property and introduced all the ultra-high-quality equipment and furnishings which offer a welcoming and comfortable feel to guests, offer no need for further investment.

FURTHER INFORMATION

Further information is available by speaking with the us and viewings are strictly by appointment only as the sale of this business is strictly confidential.

For more information, please contact us.