The very-well located and established arena and event center is a unique opportunity that does not surface often! Located near a thriving, fast-growing metropolis, the Arena and Conference Center has hosted thousands of events including concerts, trade shows, seminars, and political rallies, and has no trouble attracting a wide variety of notable performers. Past musicians include Old Dominion, Willie Nelson, Lady Antebellum, Bassnectar, Kid Rock, and Rob Zombie and much more. More than 200,000 guests attended events in 2018, and 2019 is on pace for a record-setting attendance year.
Certain clientele utilize the arena and one or both banquet halls. The banquet halls are rented for conventions, trade shows, wedding receptions, anniversaries, birthday and retirement parties, and corporate events. The first banquet hall seats up to 500 guests and has a maximum capacity of 1,800 people; and the second, larger hall seats up to 1,000 guests and can accommodate up to 2,500 people. For certain events, clients can supply food and non-alcoholic beverages or take advantage of the company’s wide variety of on-site catering options and ability to furnish alcoholic beverages under its Class C liquor license.
Current ownership has been grooming a General Manager in efforts to reduce his time in the Business. He currently has reduced his time to 25 hours a week on average. Ownership is looking to sell the business due to retirement.
Ownership strongly prefers to sell the associated real estate, but would consider a long-term lease with the option to buy the real estate down the road.
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Total square footage of 124,000 consisting of arena, exhibit halls, and other space.
Growth Opportunities Include: 1) Grow with the Region: The location is consistently ranked as one of the best and fastest growing economies in the country. 2) Increase Utilization: Continuation of increases in capacity utilization, additional “high attendance” concerts, self-promoted events, and outside equipment rentals have the potential to significantly increase annual revenues. Management estimates that with the right focus and connections a new owner could increase the top line by over $1,000,000 annually.
Investment Highlights Include: 1) Time-Tested Business: The Company has a proven business model demonstrated by its many years of strong financial performance. Its proximity to a thriving metropolitan area, versatile facility, and reputation for professionalism, are all valuable assets that the next owner can further leverage. 2) Multiple Revenue Streams: The company generates revenue from ticket sales, event promotion and co-promotion, parking, equipment rental, food and beverage concessions, catering, hall rental, in-building advertising, and mark-ups on various services provided by third parties. 3) Center of the Action: Show business is fun and exciting in ways that a manufacturing or retail operation rarely is. Meeting world-famous performers, negotiating contracts with promoters, and watching as thousands of excited fans and patrons fill the arena, are rewarding experiences in and of themselves. 4) Solid Team in Place: Organizing and rolling out large-scale events takes a great team. Fortunately, current ownership has done an excellent job building one, which allows for semi-passive ownership.
Ownership willing to provide reasonable and customary transition assistance.