Banquet Hall - Seats 500+

Not Disclosed, IA


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

Recreation: Non-classifiable


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

Quick Facts

Asking Price: $200,000
Annual Revenue: $73,935
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $198,000
Real Estate: Not Disclosed
Year Established: 2017
Employees: 1
BBN Listing #: 58774955
Broker Reference #: 5002-15446

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Business Overview:

This beautiful new banquet/wedding venue recently opened and tripled sales in year two without any catering. Buyer could potentially add catering and increase sales and profits substantially. Word of mouth has already helped book 50 days for future events This 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 and can be Leased. 11,000+ sq ft building on 5+ acres, large paved parking lot, FF&E and inventory. Business started two years ago and sales tripled 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. Assets-$200,000

Market Competition and Expansion:

This banquet hall is the largest in a 30 mile radius and word of mouth is spreading with each event hosted. New owner could add catering. Current owner upon sale of a recent catering business signed a non-compete for catering and currently turns down all catering, and nearly every customer has requested catering. A new owner could also potentially market the business more than the current owner'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 leased.
  • 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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