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Premier Banquet Facility For Sale

Location  Rhode Island,United States
Asking Price Range  $1.0M - $2.5M
Gross Revenues  $3405256
Net Profit / Cash Flow  $238579
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  1978
Number of Employees  50 - 99
Inventory  1146498
Relocatable  No
Number of Employees  50 - 99
Real Estate  Leased
Training  Will train for 4 weeks @ no cost.
Reason for Sale  The family, after thirty five plus years of dedicated service to the business, has decided to pursue retirement.
Description  This is a family owned and operated business, which has carried forth the traditions established when the business opened in Rhode Island thirty five years ago. In 2012, the business generated revenue of 3.4M, which reflects a 4% year-over-year growth trend. The business offers a full array of all-inclusive services for weddings, banquets, testimonials, anniversaries, bachelor parties, luncheons, showers and hall rentals for all occasions. This business is very well maintained and continues to create new revenue streams to maintain growth. Business Description/Overview The Company was founded in 1978 by a well-known and established Rhode Island family. Today it is operated by the son and has remained a family run operation. The business has a well-established brand, with a strong legacy. From the start, the business has specialized in small or large gatherings of all types. The owners have developed a great reputation as a family dining spot that has a large regular following. In addition the owners have recently created a unique take-out business which sells hot ready-to-eat freshly prepared items from the menu on a daily basis. In recent years, the company has developed a high end catering business, which also has become a staple and preferred source of good food and service to the surrounding community. Key business services offered are:  Weddings, banquets, testimonials, anniversaries, bachelor parties, luncheons, showers, hall rentals for all occasions  Family Dinning  Take Out  Catering  Complete wedding planning services Only serious buyer inquiries will be entertained.
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