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Business for Sale Summary

Upscale Catering & Event Company for sale in NY - 34061

Business Type: entertainment,misc. service/non-classifiable,other business services,other eating & drinking places,other personal services,professional services,seller financing available,catering and event planning
Owner Financing
Upscale Catering & Event Company for sale in NY
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This business has received 26 indications of interest - Act Quickly!

Financial Information (non-confidential)

General Information
Asking Price $1,350,000 Down Payment $1,000,000
Gross Revenues $2,000,000 Lease Remaining Register Free to View
Owner’s Cash Flow $500,000 Number of FT Employees Register Free to View

Financing

$1,000,000 Down and $350K over 4yrs. @ 6%

Business Description

High End Catering & Event Company. Price Reduced. Established in 2014, this business quickly became the preferred vendor for high end weddings. As of May 2021 they have approx. $2mil in booked weddings for the rest of 2021. To be more clear, there are approx. 85 booked weddings for 2021 and 65 weddings booked, with deposits, for 2022 already. Due to demand they must turn away approx. 30 weddings/year (even pre-pandemic). That is in addition to smaller private parties and events they must turn away simply due to time constraints. The sale price includes booked events at the time of closing, all furniture fixtures and equipment to handle four 220 guest events per day. There is a rented space for dry goods and equipment storage. 8 years remain on that lease with a rent of $3k/mth. This business has garnered 5 Star reviews with highly respected wedding websites and magazines as well as preferred vendor status with countless venues. Expected owner's cash flow for the current events is over $500K and growing daily. The owners understand that there are relationships that must be nurtured for a smooth transfer and they are willing to stay on for up to 3 years post-closing to ensure this. We are seeking a serious and financially qualified buyer with at least $1 mil in liquid funds to cover the down payment. Proof of funds shall be requested prior to a seller meeting. All buyers must have a customer service and food service background. This is an ideal add-on to existing restaurant or deli. To learn more, please call, text or email Mel Vaz today on 631-767-0157 or melvaz@vestedbb.com. All site visits must be discreet. Please do not speak with anyone when visiting the location. All meetings must be scheduled by appointment only!

Attention Business Owners: We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at registration@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.

Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.