MergerPlace

Banquet Hall - Seats 500+

Iowa


  • Asking Price: $195,000
  • Gross Income: $60,876
  • 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 40+ 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 4+ acres, large paved parking lot, FF&E and inventory. Business started three years ago and sales tripled in year two setting the stage for new owner to excel. Sales in 2019 grew by 50% over 2018.


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: $195,000
Gross Revenue: $60,876
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. With the recent closing of the nearest competitor the venue is being contacted daily with date requests.

Competition:

This banquet hall is the largest in a 30 mile radius and word of mouth is spreading with each event hosted. Closest competitor recently closed leaving the business to fill the void.

Reason for selling:

Retirement.

Support & Training:

Will train for 2 weeks @ $0 cost.

Contact Business Seller

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Business Listed By:

Michael Rooney

Murphy Business Brokers