Listing ID: 82803

Business Overview

*Excellent Opportunity to own a turn key banquet & catering business in a GREAT LOCATION!!
*Very well-known for decades, currently open and operating reported to be doing $1.45 million in annual sales (2019), netting $450,000. Fully equipped state-of-the-art kitchen, plenty of storage, refrigeration / coolers,. ALL FF&E / SMALLWARES INCLUDED IN SALE COMPLETE ASSET AND BUSINESS PURCHASE WITH ALL ASSETS AND INTELLECTUAL PROPRETY INCLUDED.
*SELLER AGREES TO STAY ON FOR A NEGOTIATED PERIOD OF TIME TO INSURE A SMOOTH TRANSITION.
*Ample on site parking PLUS adjoins large municipal, FREE parking lot!
*Beautiful upper deck Lower Level Patio, complete with water feature, fire place, stage (for both weddings and musicians)
*Full Ballroom Seating for 225, with balcony that overlooks the ballroom, all in a most sought after location!
*This OPPORTUNITY won’t last long.
*CONTACT US FOR MORE INFORMATION
*CONFIDENTIALITY AGREEMENT IS
REQUIRED FOR ADDITIONAL INFORMATION.

Financial

  • Asking Price: $3,695,000
  • Cash Flow: $450,000
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: Yes
  • Established: N/A

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:10,500
  • Lot Size:N/A
  • Total Number of Employees:N/A
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Two adjoining facilities, located in established entertainment district in a most desirable area!

Is Support & Training Included:

Seller will stay on for a negotiated period of time to assist in a smooth transition for buyer.

Purpose For Selling:

Seller attending to personal matters and pursuing other interests.

Pros and Cons:

Pros: Ideal location in one of the fastest growing markets in the state!

Opportunities and Growth:

Pros: Location allows for huge opportunities for growth of business!

Why is the Current Owner Selling The Business?

There are all types of reasons individuals decide to sell companies. Nevertheless, the true factor vs the one they say to you may be 2 totally different things. For instance, they may claim "I have way too many various obligations" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these might simply be reasons to attempt to hide the reality of changing demographics, increased competitors, recent reduction in revenues, or an array of various other reasons. This is why it is very important that you not rely totally on a vendor's word, however rather, use the vendor's answer combined with your total due diligence. This will repaint a more sensible picture of the business's existing scenario.

Existing Debts and Future Obligations

If the current business is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous operating businesses finance loans in order to cover things such as stock, payroll, accounts payable, etc. Remember that occasionally this can suggest that revenue margins are too thin. 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 likewise be future obligations to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that need to be met or may cause penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do operating businesses in the location attract new clients? Most times, companies have repeat consumers, which develop the core of their everyday earnings. Particular elements such as brand-new competition sprouting up around the area, roadway construction, as well as personnel turnover can impact repeat customers and negatively affect future revenues. One vital point to take into consideration is the location of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Certainly, the more individuals that see the business often, the higher the opportunity to develop a returning customer base. A final idea is the general area demographics. Is the business located in a densely inhabited city, or is it situated on the edge of town? Just how might the local mean household earnings effect future revenue potential?