MergerPlace

Wedding and Event Center

Texas (Lubbock)


  • Asking Price: $1,099,000
  • Gross Income: $406,723
  • Cash Flow: $91,643
  • Real Estate: $1,100,000
  • Inventory: Not Disclosed
  • FF&E: $25,000
  • Listing ID: #218527
  • Established: 2012
  • Employees: 2 FT / 10 PT

Business Description

This stylish event venue has been providing an exceptional event service since April of 2012. The owner had a vision for opening an all-inclusive event center after attending a family wedding. They began with the first venue offering 7,750 sq. ft. of venue space preferred an outdoor venue. This building is adjacent to the main venue and offers 1,970 sq. ft. of venue space. Both Venues have courtyards, stages, water fountains and are surrounded by a beautiful pecan orchard creating a true West Texas feel. Numerous events have been held on its stunning grounds, with bookings scheduled into 2020. The venues currently offers 3 inclusive packages of services. Our listing memorandum offers complete detail on these packages. This business is ready for the next buyer to take it to the next profitable level.


Business Details

Primary Business Category: Services - Other Services
Location: Texas
County: Lubbock

Company Information

Year Established: 2012
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 2 FT / 10 PT

Financial Information

Asking Price: $1,099,000
Gross Revenue: $406,723
Cash Flow: $91,643
FF&E: $25,000
Real Estate: $1,100,000
Seller Financing Available: No

Property Information

Facilities:

Building 1 - 7,750 sq ft Building 2 - 1,970 sq ft Land - 4.0 Acres Building 1 offers a large ballroom with stage, several bar and serving area, catering room, (3) Restrooms (1 handicap), kitchen, grooms room, brides room (with shower/private bath), office for wedding planning with clients, and storage galore. This venue has a beautiful courtyard with a stage and large water fountain. Building #2 offers a grooms room, brides room, photography studio, catering room, one outdoor covered courtyard with stage, and one open outdoor area with a water fountain. Land on this property provides growth opportunities for other income streams for building possible on-site living space for owners or managers. Real Estate listed with KW Commercial - Lubbock.

Growth & expansion opportunities:

Due to personal reasons the owners shared that they are only operating the venues to around 50% of their potential and more marketing focus on corporate trainings, retreats, more weddings per week and doubling up on the second venue booking could boost the revenue of the business. They shared that their biggest weakness is lack of marketing.

Competition:

Eberley Brooks Events - Wolfforth Cotton Creek - New Home Spirit Ranch - Lubbock Autumn Oaks - Wolfforth

Reason for selling:

Owners are ready to retire.

Support & Training:

Will train for 2 weeks @ no cost TABC certified bartenders & security team is required for all events involving alcohol.

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Business Listed By:

David Powell

Murphy Business Brokers