Business For Sale Listing 144945
Premiere Banquet & Convention Center
Status as of Sep-7-2008 at 06:00 PM: Active
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Business Summary
DESCRIPTION: One of Central Maine’s largest and longest operating banquet facilities and restaurants. Full turnkey buffet operation with over 200 seats and a banquet room that can accommodate up to 350-person functions. Long term history of one million plus in annual sales. All furniture and equipment included in sale.
MARKET: The business is located in a market area that is served by national chain restaurants but underserved by local specialty restaurants. The business’ long history gives has given it a solid niche in the local restaurant market. Buffet restaurants have a perceived value that generates strong sales during economic slow downs. Well operated buffets can provide superior margins over traditional menu items. The business’ proximity to the state capital and the lack of large banquet facilities in the area give it a competitive edge for weddings, conventions and government functions. The excellent business opportunity combined with a favorable sales price makes this a superb business and investment opportunity.
FACILITIES: The building may be leased or is available for sale. It features ample parking, outdoor signage and a convenient location on a major thoroughfare. The first floor houses the main restaurant, bathrooms, kitchens and banquet rooms. The second floor houses several small meeting rooms and the offices. A bar and club are located on the basement level.
PRICE OF BUSINESS: $150,000
PRICE OF REAL ESTATE: $650,000
DOWN PAYMENT: $50,000 on Biz, $250,000 on R.E.
WORKING CAPITAL NEEDED: $50,000
Categories
Industry
Location
Financials
| Sales: |
Between $1 Million And $2.5 Million ($1,100,000) |
| Profits: |
Between $100 Thousand and $500 Thousand ($135,000) |
| Profit Type: |
Seller's Discretionary Cash Flow (SDCF) |
| Fiscal Year: |
Proforma |
| Asking Price: |
Between $100 Thousand and $500 Thousand ($150,000) |
