Listing ID: 73641
This unsuspecting, vintage and chic venue is an intimate space replete with a variety of distinctive buildings perfect for any celebration: engagement photos, whimsical weddings, evening soirees, corporate gatherings, and birthday celebrations. The 2.5-acre event space, in the heart of College Park, accommodates up to 250 guests and has ample on-site parking and off-site valet parking. Brides love the 11 indoor/outdoor gathering spaces in lush gardens. The Company has consistently been voted one of the top 3 event venues in central Florida. It has an impeccable reputation, with 100s of 5-star reviews on Google, Facebook, Instagram, and The Knot. The Company has $500,000 backlog of events confirmed for 2022, with expectations that revenue will approach $750,000 this year. Growth is only limited by your imagination. Rarely does a beautiful, sought-after wedding and event venue become available. There is no end to the possibilities with this hidden gem. This opportunity won’t last long.
- Asking Price: $750,000
- Cash Flow: $217,224
- Gross Revenue: $606,974
- EBITDA: N/A
- FF&E: $10,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2004
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
2.5 acre event space that accommodates up to 200 guests and has ample on-site and off-site valet parking. Brides love the 11 indoor and outdoor gathering spaces and lush gardens.
4 weeks of training at no cost.
Ready for retirement.
Venue located in the best City in America to get married in 2022. Competitors do exist, but this venue offers clients something whimsical and unique.
Growth is only limited by the imagination. Tremendous upside growth opportunity to include and expand; catering , equipment rental and concierge services and event planning.
The venture was established in 2004, making the business 18 years old.
The business has 4 employees and is located in a building with disclosed square footage of N/A sq ft.
The building is leased by the company for $9,750 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people resolve to sell businesses. Nonetheless, the genuine reason vs the one they tell you may be 2 totally different things. As an example, they might say "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these may just be excuses to try to hide the reality of changing demographics, increased competitors, recent decrease in incomes, or a variety of various other factors. This is why it is very essential that you not count totally on a vendor's word, yet rather, make use of the vendor's solution together with your general due diligence. This will paint a more realistic image of the business's present situation.
Existing Debts and Future Obligations
If the current company is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Many operating businesses 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 mean that profit margins are too small. Numerous companies come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may also be future obligations to think about. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with vendors that need to be met or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area attract brand-new consumers? Most times, operating businesses have repeat customers, which develop the core of their everyday earnings. Specific variables such as brand-new competitors sprouting up around the area, roadway construction, and staff turn over can impact repeat clients as well as negatively influence future profits. One essential thing to consider is the area of the business. Is it in an extremely trafficked shopping center, or is it concealed from the main road? Clearly, the more people that see the business on a regular basis, the better the chance to construct a returning client base. A final thought is the basic location demographics. Is the business located in a largely inhabited city, or is it situated on the edge of town? How might the local average home income influence future revenue prospects?