High-End Banquet & Event Centers - Midwest Region

Not Disclosed, OH

Midwest Region


Asking Price: Annual Revenue:
$5,978,024 $4,000,000

Recreation: Entertainment


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RE: High-End Banquet & Event Centers - Midwest Region Broker: Michael Lohbeck

Quick Facts

Asking Price: $5,978,024
Annual Revenue: $4,000,000
Net Profit: $661,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $248,596
Real Estate: $4,500,000
Year Established: 1991
Employees: 50
BBN Listing #: 878862772
Broker Reference #: 04292201.1

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Business Overview:

These Midwest Regional family-owned banquet and event centers have been operating in the Midwest area, since 1991. These two venues have a high reservation history, over a year in advance for weddings, corporate events, community meetings and other local events. The banquet and event centers have a reputation for high-end products, reliable services and are fully staffed with 2 General Managers; 1 Controller; 4 Sales Representatives; 2 Executive Chefs and 40 part-time employees. These two banquet & event centers are positioned for strong growth for the future in the current marketplace.

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Property Features and Assets:

Two locations: Location #1 = Commercial Zoning, 1.68 Acres, 25,596 Sq. ft. - includes 1 to 6 event areas and 1136 to 1550 people (depending on layout and event type) Location #2 = Commercial Zoning, 6.7 Acres, 26,860 Sq. ft. - includes 1 to 6 event areas and 1105 to 1820 people (depending on layout and event type) **Real Estate being sold with the sale of the business

Market Competition and Expansion:

Key Strengths or Product Focus: -Consistently profitable, high-end event center business with tremendous upside potential -Established reputation includes long history of beautiful weddings and events, with repeat/referral business -Turnkey, affordable, consistently high-end product offering -Well staffed with management team in place -Financially stable -In-house training programs

Reason for Selling:

Retirement

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

Documents:

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