Price: $75,000
Location: Orange County, New York
Industry: Catering
Listing ID: CATR174
Banquet Hall, restaurant-lounge-club in a national franchise hotel located in Southern New York state 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 own on a long-term lease. This business operation projects a substantial gross income and a consistent net yearly income to the owner operator. The restaurant is at a hotel poolside which could further enhance the operation. This transaction can be a profitable business opportunity representing a consistent return on investment. The hotel owners will supply a long-term lease with a reasonable rent security and no selling price required based on experience. If you are looking to own your own business? Consider purchasing our thriving restaurant lounge and banquet business! This restaurant banquet and night club business have a long-standing reputation for excellence in the community and seeing the right buyer to take over and continue this legacy. With a prime location, this business specializes in hosting events such as weddings, corporate gatherings, and family celebrations. This fully equipped facility includes a spacious banquet hall, commercial kitchen, and all necessary equipment to host events of all sizes. They also have a fully stocked bar, allowing guests to enjoy a wide selection of beverages to complement their meals. As the new owner, you will have the freedom to build upon our success and take the business to new heights. Do not miss this opportunity to own your own successful restaurant banquet business. The restaurant is at a hotel poolside which could further enhance the operation. This transaction can be a profitable business opportunity representing a consistent return on investment.
Listing Details
Revenue: $1,500,000
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: 1976
Days & Hours of Operation: Seven day work week
Owner Hours Per Week: Full Time
Employees: Other than the lounge, which has limited hours, the restaurant and catering hall is open by appointment only.
Location
Security on Lease: Two months
Lease Option: Yes additional options.
Monthly Rent: 6,000
Type of Location: Commercial active highway
Square Footage: 12,000
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.
