MergerPlace

Banquet Hall - Seats 500+

Iowa


  • Asking Price: $200,000
  • Gross Income: $73,935
  • Cash Flow: Not Disclosed
  • Real Estate: Not Disclosed
  • Inventory: $2,000
  • FF&E: $198,000
  • Listing ID: #218345
  • Established: Not Disclosed
  • Employees: 1

Business Description

This beautiful new banquet/wedding venue recently opened and tripled sales in year two without any catering. Buyer could potentially add catering and increase sales and profits substantially. Word of mouth has already helped book 50 days for future events This newly remodeled banquet hall seats over 500 and includes lounge, bar, kitchen and large restrooms. Real Estate has a certified appraisal value of over $1,000,000 and can be Leased. 11,000+ sq ft building on 5+ acres, large paved parking lot, FF&E and inventory. Business started two years ago and sales tripled in year two setting the stage for new owner to excel.


Business Details

Primary Business Category: Amusements, Entertainment, Other
Location: Iowa

Company Information

Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 1

Financial Information

Asking Price: $200,000
Gross Revenue: $73,935
FF&E: $198,000
Inventory: $2,000
Seller Financing Available: No

Property Information

Growth & expansion opportunities:

New owner could add catering. Current owner upon sale of a recent catering business signed a non-compete for catering and currently turns down all catering, and nearly every customer has requested catering. A new owner could also potentially market the business more than the current owner's very minimal marketing. New owner could also expand on social media to attract even more bookings/customers.

Competition:

This banquet hall is the largest in a 30 mile radius and word of mouth is spreading with each event hosted.

Reason for selling:

Retirement.

Support & Training:

Very nice 11,000+ sq ft steel structure building with newer steel roof. Enough parking for over 100 cars and plenty of nearby off street parking. Land consists of over five acres next to major highway. Interior is nearly all remodeled and includes seating for over 500, dance floor, large bar, kitchen, coat room and large restrooms. Tables and chairs and all other furnishings are included in this sale. A certified appraisal in 2017 shows value of Real Estate over $1,000,000. Five plus acres of land has potential to be subdivided and developed.

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Business Listed By:

Dan Tryon

Murphy Business Brokers