Turnkey, profitable lounge for sale in Da Nang

<< This turnkey, profitable lounge for sale in Da Nang is centrally located in Son Tra district, 1km from the beach, 500m from the river, and close to many amenities. Currently attracting mostly Korean guests, it is ready for a new owner to take over. Generating steady turnover and profit, and fully licensed as a bar, this is a good opportunity for somebody to jump on board of a turnkey nightlife business. >> 

What is on offer?

• Located very centrally in Da Nang’s bustling “Koreatown”.
• Big shopping centre nearby, beach < 1km, river < 500m.
• Fully furnished, fully decorated in a modern style.
• 2 floors with a total area of +/- 150m2.
• Ground floor: fully equipped bar with 10 chairs, large sofas, kitchen, large TV.
• Second floor: 2 fully equipped karaoke rooms.
• Rooftop: open space, not covered.
• Lease agreement valid for another 4 – 5 years.
• Current lease price is VND 19,000,000/m, already paid until 06/24, included.
• From 07/24, the lease price will go up with maximum 10% per year.
• Making +/- VND 180,000,000/m revenue, and +/- VND 80,000,000/m profit.
• Currently registered as 100% Vietnamese owned family household business.
• The asking price is VND 995,000,000, all included, even rent until 06/24 !!
• A full buy-out is preferred, but a partial purchase is negotiable.
• Photos, and further info upon request !!

Potential:

• Da Nang is a very popular tourist destination, especially for Koreans. The current owners have understood this, and most of the business’ current Clients are Koreans, who enjoy spending good money in lounges such as this one. 
• This business is located in a very central and crowded area of Da Nang, called Son Tra. It attracts tourists, Korean expats, and local Vietnamese. With the return of tourism, there is great potential for this kind of bar to grow even further. 
• This lounge for sale includes 2 floors and a rooftop: is in a great location, and is available for a reasonable lease price. The 2nd floor has 2 karaoke rooms, and there is also a rooftop. The lounge is fully equipped and decorated, offering a turnkey business opportunity for the new owner.

Foreign ownership:

In Vietnam, it is legally possible for a foreign individual or company to purchase a lounge / bar such as this one. Please note that the current business is registered as a 100% Vietnamese owned family household business. For Vietnamese buyers: it may be possible to take over the structure as it currently is. However, foreign buyers would either need to convert the business into a limited liability company, or they could establish a new legal entity and buy only the assets of this business. If needed, then the current Vietnamese owner would consider to (temporarily) keep the current business registered in their name. In practice, it is sometimes difficult to obtain official foreign ownership of a business in this particular area of Da Nang. Also, for this type of nightlife business, it often helps to have a Vietnamese partner on board. For these reasons, the option of working with a Vietnamese partner may be worth considering. Our Bizspective team can advise you in more detail about how this works in practice. We can also help you with the legal / administrative side of the acquisition. If you have any questions about foreign business ownership you can contact us directly either via Facebook, WhatsApp, e-mail, or via the “contact us now” form.

Further information:

Are you interested in this business for sale? Would you like to learn more about this bar, for example more photos, or the exact location? Do you have any further questions, and/or would you like to organise a viewing: click the “contact button” in the top right corner or send us an e-mail at admin@bizspective.com . If you are looking for any more businesses for sale in Da nang, or any other type of business for sale in any other city, do not hesitate to contact us. We look forward to hearing from you!

#Business for sale #Da nang. 

*Disclaimer:

Even though our Bizspective team always tries its very best to provide you with correct and complete information: we cannot always independently verify all the information of our listings. We therefore always recommend business buyers and investors to do their own due diligence before moving forward with any of the business / investment listings on our website. If you are looking for professional support with your due diligence: feel free to drop us an e-mail in order to get connected with one of our professional partners around Vietnam.