Banquet Facility with Property for Sale in Northwest Indiana

Located in Northwest Indiana
Sale includes: the Real Property, the Business, all Equipment & all Fixtures.
Purchase Price / Business & Real Property = $2,095,000 plus inventory

The current owners acquired the property in 2011. It’s a one story 8,488 sq ft banquet facility and it sits on 1.14 acres of land. The building consists of a very large, open banquet room with 2 loft areas. One loft area is currently being used as a storage area however, it could be converted to a guest area, if needed. The other loft area is quite unique and is used as a popular VIP guest area. There’s also a beautiful patio area and a very large full-service bar with a lounge. The building is very unique & definitely something you need to see. If interested, please contact us & we’ll be happy to provide color pictures of the entire facility, inside & out.

This banquet Hall has a lot of potential to grow sales & cash flow. For starters, the website probably needs to be updated with more information & a lot more pictures of the beautiful interior & different events held there. Most banquet halls on the market desperately need to be remodeled. This is not the case here. Everything has already been remodeled for you. The owners did a complete gut job on the building & started from scratch. One of the owners is a very talented architect. You really need to see it. It’s quite impressive. We can provide a detailed list of all of the building improvements the owners made to the space after acquiring it.

The current owners have had success keeping their expenses low, so they still have strong cash flow. The biggest area of opportunity is increasing the sales. Any increases in sales will result in most of the new sales going to the bottom line because the overhead is being covered by the $600,000+ they are currently generating. Having an owner operator there daily to focus on growing sales would do wonders for this place. Another big benefit is that this banquet facility has already been remodeled, so a new owner won’t have to worry about that major expense. They aren’t spending much at all in advertising, so an increase in advertising will surely result in more sales.

Another area of opportunity is adding some kitchen equipment & a chef. Right now, they don’t have a chef or a kitchen staff, so guests cater their food from outside caterers. At most banquet halls, most of their sales are comprised of food sales. Here, they have no food sales. At first glance, the gross sales for this business seem quite low however, that’s simply because they’re not selling any food. As you can imagine, they probably lose bookings to other nearby banquet facilities that do have a chef & kitchen staff. Some people prefer the food is prepared onsite instead of it being catered in. Usually, the food quality is better when prepared onsite. It’s also usually cheaper than outside catering as well. Having said that, even with the relatively low sales, the overhead, especially the Real Estate taxes, is very low, so the business still produces nice cash flow. One of the beautiful aspects of this business is that you don’t have to do a lot in sales to turn a profit and any increases in sales significantly boost the cash flow. This situation is hard to find. Remodeling a banquet hall is very expensive and very time consuming. Here, it has been completed for you. This makes it a true turn key opportunity with tremendous potential for future growth.

Reason for Selling

The current owners are absentee owners & are not involved in the day to day operations & have decided to explore the possibility of selling either the business and building/property or the business with a long term lease. They have a General Manager that runs the business in their absence.

Note: The owners will consider a small amount of financing for a well-qualified potential buyer.

Asking Price/Business & Real Estate: $2,095,000.00 plus inventory
Gross Annual Sales (approximately): $657,438.00
Cash Flow (approximately): $175,000.00
Value of Inventory (approximately): $20,000.00
Value of Equipment & Fixtures (approximately): $110,000.00
Building, Property details (approximately): The annual Real Estate taxes are only $14,527.48, which is one of the many benefits of being in Indiana. The building is 8,488 sq ft. The land sq ft is 49,862 or 1.14 acres. 
Seller Financing: Owners will consider a small amount of financing with qualified & experienced buyer/operators.
Contact: Tony, This email address is being protected from spambots. You need JavaScript enabled to view it., Advantage Business Acquisitions, Inc. 847-722-1877

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