OFF-MARKET-High Net Full Service Event Venue Company for Sale

OFF-MARKET ‘Q1 2024

Full-Service Event Venue Company for Sale

Detroit, MI Metro Area

Seller Financing Available if the price and deal structure is right

Asking Price: $500,000

Cash Flow: $280,000

Gross Revenue: $395,000

EBITDA: N/A

FF&E: Included

Inventory: N/A

Established: 5/10/2017

Employees: 1 (Owner) / 3 (1099)

Business Description
This Company provides a full-service Event Venue Rental Space! The event space can facilitate events up to 125 people for many diverse types of events that include micro weddings, corporate events, bridal showers, birthdays, etc… The business was born from a deep passion for creating stylish events that make a statement through creativity, detailed organization, and design. The business prides itself on staying savvy about the hottest trends in the industry, but the true passion comes from infusing amazingly innovative concepts, which is what makes each event unique.
This Business will enable the future owner to balance the financial needs with their desired level of flexibility. As an example, the current owner spends only about 5 hours per week on this business in 2023 compared to 20-30 hours per week in 2021/2022. Imagine the growth opportunities that a new owner will be able to infuse into the business!

The business location and name will be shared once a qualified Buyer prospect is vetted. NDA required to receive the Executive Summary crafted by ProNova Partners.

Detailed Information

Facility:
Beautiful 3000 SF event venue space in an easily accessible area with street visibility, signage, and plenty of parking. $50k worth of improvements/renovations completed in 2023. Lease extends through May 2024. LL is flexible and aware of the potential transfer of the business and looking forward to signing a new lease with the future buyer. Rent is $4,932.00 per month.

Competition:
There are some companies nearby in this space that target larger events for 300+ guests, as well as a few that target 150 or less guests. There is no one that offers the interior finishes that this Company does, who is well-positioned in the small to medium sized event venue rental space. So, while customers have options, the Company stands out with a unique offering.

Growth & Expansion:
There are many growth and expansion opportunities for this Company, which could include adding the option for weekday rentals, adding more premium packages, incorporating event planning, markup on vendors, expanding the types of events to include Sweet 16, Quinceañera, and others.

Financing:
TBD if structure and terms are acceptable.

Support & Training:
As needed – specific terms for transition support can be negotiated. The Seller wishes to facilitate a successful and smooth transfer of the Business.

Reason for Selling:
The Seller has another business where she wants to shift her focus, and so she is looking for the right buyer to take what she has built and to grow it to the next level.