Event Venue in Greater Sioux Falls Area
South Dakota
| Asking Price: | $170,000 |
| Gross Revenue: | $227,110 |
| FF&E: | $60,000 |
| Cash Flow: | $106,728 |
| Inventory: | $5,800 |
| Established Year: | 2017 |
Listing ID: 2271519Listing provided by BizBuySell
BUSINESS DESCRIPTION
Profitable business with growth potential!
Premier event facility in the Greater Sioux Falls area. This is one of the largest venues to host events of all kinds. The business chooses to focus on weddings. There is no on-site food preparation by the owners, but the venue has a good relationship with local restaurants and caterers. Events in 2024 and already booking into 2025 and beyond!
DETAILED INFORMATION
Location
South Dakota
Inventory
Included in asking price
Real Estate
Leased
Building SF
7,500
Employees
3
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Lovely facilities that are highly sought after include a very large reception area with private suites for brides and grooms. A prep kitchen is available for outside vendors as well as a full bar.
Competition
There are a number of venues in the area. Few are larger than this property. This business separates themselves by the tailored and customized service they provide.
Growth & Expansion
A bigger staff could accommodate larger, more elaborate events. Many weekday and off-season events could be added. Expanding add-on services and packages could increase margins. Drink prices are below market and could be raised to increase revenues. Bar minimums and rentals fees could be adjusted as they are currently competitive but slightly below market rates.
Financing
$85K down/$85K over 120 mos. @ 10%.
Support & Training
Will train for 2 weeks @ $0 cost.
Reason for Selling
Owner is relocating.
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