Price: $49,999
Location: Orange County, New York
Industry: Catering
Listing ID: CATR166
Key funds required for this wonderful opportunity to own a long-standing Banquet Hall and restaurant-lounge in a national franchise hotel located in Southern New York and in the county of Orange. This business opportunity has had many years of success and due to new hotel ownership, the restaurant is now available to lease at no cost other than key funds for this business transaction. This business operation projects a substantial gross income and a consistent net yearly income to the owner operator. The restaurant is at hotel pool side which can further enhances the operation. This transaction can be a profitable business opportunity representing a consistent return on investment. The business assets have an estimated value of approximately $225,000 which is based on replacement costs of all equipment, licensing, etc. This sale consists of a fully equipped restaurant, catering hall and lounge which includes a Consumption type liquor license, commercial kitchen, tables, computers, software 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 2023 gross yearly income is projected at $1,000,000 and the business expects to have a substantial net income based on an owner operator and prior to debt service. This Hotel operation has been priced at $100,000, representing key funds-fair market value which includes the required rent security.
Listing Details
Revenue: $1,000,000
Cash Flow: $150,000
FFE: $225,000 (Included in Price)
Inventory: $1,000 (Included in Price)
Reason For Sale:
The purpose of this sale is due to the owner’s recent retirement.
Training & Support:
The hotel now has a new owner and elected not to maintain the restaurant or catering operation, for this reason, no training is available for this business transaction.
Operation
Year Established: 1975
Days & Hours of Operation: Seven day work week
Location
Security on Lease: Two months
Lease Option: Yes additional options.
Monthly Rent: 6,000
Type of Location: Commercial active highway
Square Footage: 10,000
Relocatable?: Yes
Facilities Information:
The facility consists of multiple venues, banquet hall, restaurant Lounge and if desired nightclub. The banquet hall has a capacity for approximately one hundred and fifty customers and the restaurant-lounge also has a capacity for an additional one hundred and fifty customers. Each of the venues have separate and private entrances from the hotel lobby. The business has a huge professional fully equipped commercial kitchen. The hotel is located in southern New York in the county of Orange. The operation which consists of a one hundred and fifty room franchise hotel and is located immediately off the New York Throughway for customer convenience. The general area consists of highly populated municipalities with continued demand for this service.
Summary
Owner Qualifications:
This retail industry requires New York State government agency approval to purchase due to the consumption the liquor license.
Competition:
Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Potential Growth:
Regarding growth and expansion, this particular company can be further developed by improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly sales.