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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Banquet Hall & Catering Facility
(Food & Beverage , Catering)
Warren County , NJ
Listed Price: $ 895,000
Listing ID: CATR146

Listing DetailsGross Revenue: $ 900,000
Cash Flow: $ 120,000
FFE: $ 350,000 (Included in Price)
Inventory: $ 2,500 (Included in Price)
Reason for Sale:

The owner is retiring after many years in this industry.


Training & Support:

The owner will remain post-closing in order to supply an appropriate training & transitional period to the new operator.


OperationsYear Established: 2001
Non-owner Payroll: $ 10,800
Employees: 10
Absentee Owner: No
LocationLease Expire: 0000-00-00
Square Footage: 12500
Facilities:

The facility consists of 12,500 square feet with a modern attractive appearance. This business opportunity is located on a commercial avenue in Northern New Jersey, Warren County, which consists of various affluent communities with continued demand for this particular service.


SummaryBusiness Description:

Excellent business opportunity for this turnkey Banquet facility, Restaurant Lounge located in an active area of Northern New Jersey. The owner is retiring and will consider financing to a qualified buyer. The business has multiple venues, which offers banquet services, a popular lounge and a fully equipped restaurant. The sale includes the real estate with additional income from residential rental units. They invite their customers to tour their beautiful park-like setting, fanciful gazebos, sparking waterfalls, enclosed chapels, and magnificent ballroom. Family owned and operated for many years, the business offers a magnificent setting for weddings, corporate functions and social events of all kinds. They have built a reputation for uncommon quality, exemplary service and extraordinary value. This retail business has ten full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $10,800. The sale consists of a fully equipped Banquet facility, Pub / Restaurant which includes a consumption liquor license, full commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The banquet facility is active based on scheduled parties, the restaurant is presently closed, and the lounge is open weekend only with hours from 4:00 pm to 1:00 am. The business has been valued at $895,000, based on a multiple of the average net yearly income, plus real estate, which includes the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent and dependable investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.


Competition:

To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.


Potential Growth:

The business presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income.


Financing/Terms:

Available to a qualified buyer.