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Popular Wedding/Banquet Venue In Hot Princeton, NJ Market

Cranbury, NJ (Middlesex County)

Seller Financing Available
www.thecranburyinn.com
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Asking Price: $5,400,000

Cash Flow: N/A

Gross Revenue: $1,600,000

EBITDA: $400,000

FF&E: $400,000

Inventory: $50,000

Real Estate: N/A

Established: 1900

Popular Wedding/Banquet Venue In Hot Princeton, NJ Market

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Business Description

Great Banquet Business W/ Rare Golden 32C Liquor License

In the heart of one of the fastest growing housing/business markets in Central N.J. This 1750 Revolutionary War Famous Restaurant & Wedding/Special Events facility and wedding barn has demonstrated consistent positive cash flow, appreciating real estate values and is poised for significant growth in the profitable wedding/banquet, business meetings, and off-site catering. Present owners have long enjoyed an ideal lifestyle and stable cash flow and now desire to semi-retire. Ideal acquisition for other successful banquet operator seeking geographical expansion into the Princeton marketplace, Corporate Executive or Professional Couple looking for a highly satisfying career and life change, or Smart Investor looking for solid growth, asset appreciation and safety. Fast growth business plan already in place! Assumable Mortgage* for the right party. Owners willing to stay on for a negotiated period. This is a safe asset sale and the business comes free! First Time Ever Offered!

Detailed Information

Location:
Cranbury, NJ
Inventory:
Included in asking price
Real Estate:
Owned
Building SF:
22,000
Employees:
25
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Appraised Assets Exceed $7.9mm. Positive Business & Cash flow come free with asset purchase. Sale Includes 22,000 SF resturant and catering facilities on over 2.17 valuable Acres in sweet spot of an historic village, Total Seating Capacity of 600+(large, new Banquet Barn seats 440 seats alone), 2,600 SF Huge Modern Kitchen, Class C Golden Class 32 Liquor License w/ Retail Store (license valued @ $1mm), Ample Parking to accommodate Multiple Large and Small Parties: 124 Parking w/o Valet; double the parking space available, if needed
Competition:
The Princeton-East Windsor Market is one of the fastest growing residential and business markets in New Jersey. Contiguous to Princeton & Corporate America, including some of today's fastest growing companies, the assets alone have appreciated far beyond regional and national standards. This historic brand has broad market appeal to a wide range of psycho-demographics and is ready to move to the next level. It presently competes aggressively with local banquet and restaurant competitors. It's growth opportunity is greater than most.
Growth & Expansion:
While the current business comfortably covers all owner and asset cash flow needs, it is clearly ripe for expansion: 1) Easily triple banquet volume from 1 to 3 events/week, 2) Raise prices to current market, 3) Introduce off-site catering - presently an untapped and large market, 4)Large, untapped business market for Corporate Catering, 5) Ramp-up A La Carte Business, 6)Build Liquor Store Business w/ highly valuable Golden Class 32 Liquor License, 7) Leverage historic "brand" to other hospitality venues. Business Volume could easily be 3-4 times current
Financing:
Assumable Mortgage. Cash Flow Covers Purchase Price and Owner's Compensation
Support & Training:
Support & Training post-sale to be negotiated. Owners will happily remain during transistion
Reason for Selling:
Owners Considering Semi-Retirement
Business Website:
http://www.thecranburyinn.com
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Business Listed By:
Thomas C. Ingegneri

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