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Businesses For Sale > Business For Sale in Middlesex County, New Jersey (NJ)

On-Premise Catering, Banquet Facility Middlesex County, NJ for sale in Middlesex County, NJ

Middlesex County, New Jersey (NJ)

Asking Price: Gross: Cash Flow:
Undisclosed $ 1,000,000 Undisclosed

Furniture and Fixtures Value:
$ 2,500,000 (included in the asking price)

Business Summary:
Ultra-modern banquet hall with multiple rooms and a huge capacity, now available for sale due to the owner’s retirement. They are a family-owned and operated company and have been serving the community since the 1990’s. Located in a wonderful affluent area of Middlesex County and is the perfect choice to hold an unforgettable affair which can accommodate guest sizes from 25 to 500 in their five beautifully decorated private banquet rooms. Their dedicated staff of on-site event planners ensures all events will be pleasurable and memorable and are experts with wedding ceremony & reception, bridal shower, rehearsal dinner, engagement party, anniversary, sweet sixteen, bar/bat mitzvah, birthday or corporate event. This banquet organization was previously voted “one of the best” Banquet/Reception Halls in Central New Jersey in the Home News Tribune Reader’s Choice Award and they had the honor of receiving "The Knot Best of" for 2013 and 2015. Their mission is to supply the best possible service to their patrons and provide them with food that is made with the finest quality ingredients. This on-premise banquet facility consist of various full and part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and weekly base salary, the staff is unaware of the pending sale & fully expected to remain post-closing. The present owner is retiring and prefers to market the company, licenses, and real estate; however, he will consider a lease agreement with an option to purchase the property, terms and conditions to be negotiated. The business has been valued / priced based on the value of the assets including the multiple of the net yearly income and possible seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity.

 

   
Facilities / Terms of Lease: The Catering facility is located on a lavish landscape in Middlesex County. This attractive facility which consist of approximately 40,000 square feet, five rooms, has been fully upgraded with a modern attractive image. The business consists of a free-standing structure on an active county road close to various highways in Central Northern New Jersey Middlesex County.  
   
Potential Growth/Expansion: This banquet on premise catering facility operation can be further expanded with a new operator by improving the existing marketing and required local advertising. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.  
   
Competition: To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.  
   
Owner willing to finance: Available to a qualified buyer.  
   
Owner willing to train: The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.  
   
Reason for selling: Owner is retiring after many years in the industry.  
   
Seller Reference Number: CATR154
BusinessMart.com Listing Number: 247930
 

 

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For more info contact:

Ronald Cervelli

Regal Consulting Corp.
973-837-0808

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