MergerPlace

Wedding, Banquet, Convention & Catering

Iowa (Linn)


  • Asking Price: $150,000
  • Gross Income: $348,125
  • Cash Flow: $79,404
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $120,000
  • Listing ID: #197360
  • Established: 2000
  • Employees: 2 FT/10 PT

Business Description

Great opportunity to own your own well-established, successful event hosting and service business focused on banquets, weddings, receptions, graduation parties, reunions, business conferences, retirement luncheons, trade shows, dances, meetings, exhibitions and concerts with extensive indoor and outdoor capabilities. The business enjoys an excellent reputation for top of mind market awareness in and around the Cedar Rapids, Iowa area. It is strategically positioned to provide premium service and cuisine for an excellent value. The company is ideally located at a highly improved, well-equipped venue with banquet seating for up to 500 and additional outdoor capacity. The business also offers full service catering of food and beverages transported to off-premise events.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Iowa
County: Linn

Company Information

Year Established: 2000
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 2 FT/10 PT

Financial Information

Asking Price: $150,000
Gross Revenue: $348,125
Cash Flow: $79,404
FF&E: $120,000
Seller Financing Available: Yes

Property Information

Facilities:

The business is located a highly-improved banquet facility ideal for this type of business. The fully updated facility features multiple banquet rooms with full service bars and an extensive kitchen. The property also includes an impressive park like setting with many enhancements for outdoor events such as wedding ceremonies, receptions, picnics, concerts and gatherings of all kinds. There is adequate parking, high visibility, and plenty of room to grow. The real estate is leased by the business and owned by related party. The real estate is available for purchase by the successful buyer or the buyer’s lease-back investor for $1,300,000 sale price in addition to this business offering. The seller may consider a real estate lease to a well-qualified business buyer. The real estate is offered by Murphy Business & Financial of the Heartland, Corp., an Iowa licensed brokerage.

Growth & expansion opportunities:

The established customer base, proven capabilities and outstanding reputation present strong platforms to increase market share and revenue through the investment of time, attention and capital in human resources, marketing and working capital.

Competition:

During prime times for events, demand exceeds event venue supply in the market.

Reason for selling:

Contact listing broker.

Support & Training:

Will train for 2 weeks @ no cost. Thanks to trained, professional staff members, the seller enjoys great flexibility on only averages about fifteen hours weekly on the business. The seller is willing to be available to assist during the successful buyer’s orientation, training and transition. Since the seller only devotes limited time to the business, a hands-on buyer may save on payroll expense or contribute to increased revenue. The seller currently contributes to management, bookkeeping, personnel administration, maintenance, pricing and marketing. Banquet, event, resort, convention center, country club, food service, institution, hotel, project management, communication or problem-solving experience may be beneficial. The company is licensed and has passed inspections for food service.

Contact Business Seller

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Business Listed By:

Brian Brown

Murphy Business Brokers