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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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On Premise Catering & Restaurant
(Food & Beverage , Catering)
Atlantic County , NJ
Listing ID: CATR147

Listing DetailsFFE: $ 480,000 (Included in Price)
Inventory: $ 2,000 (Included in Price)
Reason for Sale:

The owner is retiring after many years in the industry.


Training & Support:

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


OperationsYear Established: 1981
Non-owner Payroll: $ 12,800
Employees: 26
Absentee Owner: No
LocationLease Expire: 0000-00-00
Square Footage: 20000
Facilities:

This retail facility which consist of 20,000 square feet is located in Southern New Jersey in the county of Atlantic and conveniently located on an active road close to various state highways. The business also consists of a free-standing building on 2.5 acres with an attractive professional appearance.


SummaryBusiness Description:

Successful catering & banquet facility opportunity which includes a valuable liquor license and all of the business assets, now available and priced to sell based on fair market value. The business is located in an active area of Atlantic County on a convenient road, close to various state highways. This 20,000-square foot facility is on 2.5 acres of land, multiple rooms with a capacity for approximately seven hundred and fifty patrons, a two thousand square foot lounge and a three thousand square foot commercial kitchen. With over forty years of experience, this caterer believes in delivering a beautiful and memorable reception through excellent service and unsurpassed culinary expertise. Their clients can choose from many event areas, private ballrooms or outdoor patio and garden areas that can accommodate ceremonies and receptions from 20 to 800 guests. Their experienced wedding planners can coordinate a special day from the exquisite menus to gorgeous table settings to complete entertainment services. Their dedicated staff will meet your needs, exceed your expectations and grant your wishes in order to make your affair a special one. Their experienced staff help plan corporate, professional, or fundraising events. This business has four full time and twenty-two-part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll averages $12,800. The business assets have an estimated value of $480,000 and the sale consists of a fully equipped catering & banquet facility. The business is active based on the scheduled appointments of events. This business opportunity has been valued at fair market value to be negotiated based on the value of the assets, etc., specific assets and liquor license, additionally 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 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 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 an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business presently has a limited marketing plan, basic web site and if improved can further develop the business bottom line net income. Additionally, the facility will require some updating and remolding in order to further increase the business activity.


Financing/Terms:

Available to a qualified buyer with an appropriate down payment.