Superb Event Venue And Restaurant For Sale

Business description

This superb business is a fully equipped multi use venue catering to a wide range of clientele including: government, local business, private individuals and community groups. The centre has a complete meeting and conference capabilities as well as live music and dining. The local market for such a venue is very good given the low number of competitive establishments in the city. Hotel conference space is at a premium in this area with few other comparable independent Venues in the Downtown core. The property has been operating with minimal marketing for the past 5 years using word of mouth and repeat customers to sustain the business. With a more aggressive marketing vision the current levels of use could be doubled or triple. The current owner initially entered in to the business with two other partners both having specific skills sets top enhance and drive the business, but due to personality conflicts they are no longer part of the business, leaving one person to do the work of three. This means that the business has great opportunity for new ownership with the requisite skills to take an already successful enterprise and drive it to a new level. Also by utilizing the fully equipped commercial kitchen and well appointed front of the house areas, a buyer has all the tools to generate significant income with a reasonable amount of work and effort. This business is a winner! Please call us today for more information!!

Property information

Location:

This one level facility is 4,500 sq. ft. built in 1990. The building is in good overall condition located in a Downtown city street with a high traffic with good visibility.

Other information

Expansion potential:

Potential areas of revenue growth are more aggressive marketing, more publicity for collector’s fairs, trade shows, music events and art exhibits to name a few. Rental of space to other caters generating higher net revenue, restaurant style format for one or both of the rooms on a regular basis with a stylish and trendy fell that would easily fit within the current business model.
Alternative potential profit centers may include creation of teach environment given the high (and growing) number of education facilities in Victoria, product of branded food products from the fully equipped commercial kitchen, a formal restaurant catering to an under service gastronomic environment or a theatre style space providing venue for a projected or performing arts

Competition / Market:

There is very little competition in this area.

Support & training:

Owner agrees to stay through a reasonable transition period.

Reasons for selling:

Personal

Financing available:

There is some owner financing to the right buyer.

Furniture / Fixtures value:

$30,000 (included in the asking price)

Inventory / Stock value:

$10,000 (included in the asking price)