Listing ID: 71286
This Trophy facility is unmatched in the state of Rhode Island with multiple event areas and break away space. 500 plus capacity and massive outdoor areas for expanded capacity and variety give this business huge volume yet still maintains the ability to host smaller events without compromising intimacy.
The perfect high end wedding venue.
Professional cooperate events.
Live entertainment venue
includes all furniture, fixtures and equipment
Includes all pre-booked parties and events
- Asking Price: $2,600,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Seller will train Buyer
Unbelievable operation and expansion potential
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people choose to sell companies. However, the true reason vs the one they tell you may be 2 totally different things. As an example, they may claim "I have a lot of various obligations" or "I am retiring". For many sellers, these factors are valid. But, for some, these may simply be excuses to try to hide the reality of altering demographics, increased competitors, current decrease in revenues, or an array of various other reasons. This is why it is really important that you not depend absolutely on a vendor's word, however rather, make use of the vendor's solution along with your general due diligence. This will repaint an extra reasonable image of the business's present situation.
Existing Debts and Future Obligations
If the current company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of companies take out loans in order to cover items such as stock, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can imply that revenue margins are too thin. Lots of companies fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with vendors that need to be satisfied or may lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location bring in new consumers? Many times, companies have repeat clients, which develop the core of their daily profits. Specific aspects such as brand-new competitors sprouting up around the location, road building and construction, and also employee turnover can affect repeat clients and also negatively impact future earnings. One essential point to consider is the placement of the business. Is it in a very trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more individuals that see the business regularly, the higher the possibility to build a returning client base. A final thought is the general location demographics. Is the business situated in a largely inhabited city, or is it located on the outside border of town? Exactly how might the regional average household earnings influence future earnings potential?