Banquet Hall-Seats 500+ Includes

Not Disclosed, IA


Asking Price: Annual Revenue:
$1,200,000 $73,935

Services: Rentals - Party, Equipment


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RE: Banquet Hall-Seats 500+ Includes Broker: Dan Tryon

Quick Facts

Asking Price: $1,200,000
Annual Revenue: $73,935
Net Profit: Not Disclosed
Cash Flow: $12,086
Total Debt: Not Disclosed
FF&E: $198,000
Real Estate: Not Disclosed
Year Established: 2017
Employees: 1
BBN Listing #: 15134955
Broker Reference #: 5002-15019

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Business Overview:

This beautiful new banquet/wedding venue boasts close proximity to a freeway in Iowa without the devaluing noise and traffic. Newly remodeled banquet hall seats over 500 and includes lounge, bar, kitchen and large restrooms. Real Estate has a certified appraisal value of over $1,000,000. Sale includes 11,000+ square feet building on 5+ acres, large paved parking lot, FF&E and inventory. Business started two years ago and sales doubled in year two setting the stage for new owner to excel.

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Property Features and Assets:

Very nice 11,000+ square feet steel structure building with newer steel roof. Enough parking for over 100 cars and plenty of nearby off street parking. Land consists of over five acres next to major highway. Interior is nearly all remodeled and includes seating for over 500, dance floor, large bar, kitchen, coat room and large restrooms. Tables and chairs and all other furnishings are included in this sale. A certified appraisal in 2017 shows value of Real Estate over $1,000,000. Five plus acres of land has potential to be subdivided and developed. Asset=$1,235,000

Market Competition and Expansion:

Current owners are partially retired and started this business because they knew there was a need for a venue like this in their area. Owner has done very minimal advertising and despite the minimal marketing, revenues have doubled in year two and word of mouth is spreading. Many bookings are already on the books for 2019 and 2020 setting the stage for new owner to excel. A new owner could potentially market the business more than the current own's very minimal marketing. New owner could also expand on social media to attract even more bookings/customers.

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.

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