Entertainment Venue With Carvery And Restaurant | | Undisclosed West Midlands | | Entertainment Venue with Carvery and Restaurant Ref.CO104 Location West Midlands Asking Price £ 250,000 | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 29861
ADVERT IMPRESSIONS : 32,676 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | LEASEHOLD: | ££ 250000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Business profile:
This is an almost unique opportunity to acquire one of the regions leading carvery and entertainment venues that has built itself a fantastic reputation for providing quality food and drink in excellent surroundings. Its claim to fame, and the key reason for it success is that it provides a broad range of top quality cabaret acts on a daily basis to appreciative audiences who travel for many miles to enjoy the experience provided by the professional and experienced hosts.
This business really buzzes and not only offers live entertainment four nights a week but also at lunchtimes. Its packed operating schedule includes an early lunchtime carvery, afternoon showtime, early evening carvery followed by the evening performance. It is an extremely popular venue for coach parties from all over the Midlands and South West catering for company functions and pensioners outings alike. In addition to which it is a sort after venue for private parties and weddings. Such is its popularity that bookings are three months in advance and it consistently caters for between three and four hundred covers a day.The fully licensed business has a restaurant with one hundred and thirty covers and includes a stage show floor that can also be used as a dance area for weddings and other functions.
Premises:
The premises enjoy a fantastic location being within a mile of the M5 motorway and within two miles of the city centre. Originally a farmhouse the property now boasts a large car park suitable for coaches with a covered Gazebo for warmer evenings and to cater for the smokers. There is a small lounge area, comfortable bar, restaurant and stage. A fully fitted professional kitchen that has new Lainox Combi ovens supports the facilities. There is also a three bed-roomed self-contained flat that is presently used as office space. There are seven years left of a twenty one year lease at a cost of forty thousand pounds per annum.
Advertising and Marketing:
The marketing activity is split into two key areas. Firstly, lunchtime and afternoon clients. The business holds a database of around one thousand six hundred coach firms, group tour operators, residential and nursing homes. These receive regular mail shots with updates on promotions and new shows. This activity drives the daytime marketplace and ensures that the business maximises its opening hours to the full. Bookings are accompanied by a five pound deposit per person with the balance being paid a week before the event. The evening clientele comes from small groups and couples looking for a different night out. The operation has built a database from existing and previous customers, web based enquiries and leads from advertising in local and regional newspapers. These customers provide e-mail addresses and receive e shots on a regular basis. Bookings are only taken with the full ticket cost being paid up front with an average price being circa sixteen pounds.
Financial profile:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler. The business consistently turns over a figure of around £380,000 that generates a gross profit of circa £270,000. Adjusted net profits are in the region of £75,000.
Employees:
There are two hands on directors who are supported by;
One General Manager who will remain for an agreed handover period.
Five full time staff
Six part time staff
Support and Training:
The general manager will stay with the business for a period to be agreed as part of the overall sales negotiations.
Reason for Sale:
The directors have spent a number of years building this business to be the success it is today. They also have a property rental business in sunnier climes and wish to spend more time abroad. | | | | | | FOR SALE | | | | | REFERENCE: | CO104 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
