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Banquet & Catering Facility w. Property

9/wk
Atlantic County, New Jersey, United States
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Asking Price$995,000
Revenue$995,000 Established1972
Cash FlowUndisclosed Employees4 full-time
FF&E$48,000* FranchiseNo
Inventory$2,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Successful catering & banquet business opportunity which includes a valuable liquor license and the real estate now available and priced to sell based on the value of the property and assets. The business is located in active area of Atlantic County on a convenient road, close to various state highways. This 20,000-square foot facility includes 2.5 acres of land, multiple rooms with a capacity for seven hundred and fifty patrons, a two thousand square foot lounge and a three thousand square foot commercial kitchen. The natural beauty of the New Jersey Pinelands provides the perfect backdrop for the romance and excitement of a wedding affair. Be it a small intimate gathering of friends and family or a gala event with hundreds of guests, this catering company provide customized details and magical moments for treasured celebrations including weddings, vow renewals, engagements and anniversaries. With over forty years of experience, this Caterer believes in delivering a beautiful and memorable reception through excellent service and unsurpassed culinary expertise. Their clients can choose from many event areas, private ballrooms or outdoor patio and garden areas that can accommodate ceremonies and receptions from 20 to 800 guests. Their experienced wedding planners can coordinate a special day from the exquisite menus to gorgeous table settings to complete entertainment services. Whether you are looking to celebrate an anniversary, birthday, religious milestone, bridal or baby shower, or simply to gather for family fun at a reunion, this Caterer can provide the perfect setting for your special occasion. Their dedicated staff will meet your needs, exceed your expectations and grant your wishes in order to make your affair a special one. Businesses, corporations and non-profits companies from across the tristate area utilize this highly successful Caterer as a Pinelands retreat for planning sessions, financial meetings, trade shows, conferences, employee training sessions, holiday gatherings, and as reward for outstanding employee performance Their experienced staff help plan the next corporate, professional, or fundraising event. This industry requires government agency approval to purchase due to the transfer of the New Jersey State issued consumption liquor license. This business has four full time and twenty-two-part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll averages $12,800. This banquet catering facility is located in a free stranding facility which consists of 20,000 square feet, with multiple rooms and has a capacity for approximately seven hundred & fifty customers. The business assets have an estimated value of $480,000 and the sale consists of a fully equipped catering & banquet restaurant which includes a fully equipped three thousand square foot commercial kitchen, valuable consumption liquor license, refrigeration & freezer units, POS system, displays, shelving, tables, computers, fire suppression system 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 facility has appropriate private parking for one hundred and eighty vehicles on site. The business is active based on the scheduled appointments of events. The sale includes a certificate of occupancy from the municipality, consumption liquor license, live entertainment approval, and the required state or city licenses to conduct its day to day business. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity.
Facilities:This retail facility which consist of 20,000 square feet is located in Southern New Jersey in the county of Atlantic and conveniently located on an active road close to various state highways. The business also consists of a free-standing building on 2.5 acres with an attractive professional appearance.
Competition:To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth Potential:The business presently has a limited marketing plan, basic web site and if improved can further develop the business bottom line net income. Additionally, the facility will require some updating and remolding in order to further increase the business activity.
Training/Support:The seller / owner will remain post-closing in order to supply an appropriate transitional period to the new operator.
Seller Financing:Available to qualified buyers.
Sale Reason:The owner / seller is preparing to retire after many years.
Ad #97957
Seller Reference #CATR138
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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