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Very-Well Located & Established Arena and Event Center

MI

Seller Financing Available
Very-Well Located & Established Arena and Event Center
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Asking Price: N/A

Cash Flow: $349,608

Gross Revenue: $3,401,440

EBITDA: N/A

FF&E: $1,054,806

Inventory: N/A

Real Estate: N/A

Established: 1996

Very-Well Located & Established Arena and Event Center

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Business Description

Very-Well Located & Established Arena and Event Center

The very-well located and established arena and event center is a unique opportunity that does not surface often! Located near a thriving, fast-growing metropolis, the Arena and Conference Center has hosted thousands of events including concerts, trade shows, seminars, and political rallies, and has no trouble attracting a wide variety of notable performers. Past musicians include Old Dominion, Willie Nelson, Lady Antebellum, Bassnectar, Kid Rock, and Rob Zombie and much more. More than 200,000 guests attended events in 2018, and 2019 is on pace for a record-setting attendance year.

Certain clientele utilize the arena and one or both banquet halls. The banquet halls are rented for conventions, trade shows, wedding receptions, anniversaries, birthday and retirement parties, and corporate events. The first banquet hall seats up to 500 guests and has a maximum capacity of 1,800 people; and the second, larger hall seats up to 1,000 guests and can accommodate up to 2,500 people. For certain events, clients can supply food and non-alcoholic beverages or take advantage of the company’s wide variety of on-site catering options and ability to furnish alcoholic beverages under its Class C liquor license.

Current ownership has been grooming a General Manager in efforts to reduce his time in the Business. He currently has reduced his time to 25 hours a week on average. Ownership is looking to sell the business due to retirement.

Ownership strongly prefers to sell the associated real estate, but would consider a long-term lease with the option to buy the real estate down the road.

Thank you for reading this overview. The extent of the information that we are publicly permitted to reveal about this opportunity is contained in this overview. Please submit your contact information in the provided form. We have automated the processing of NDAs and sending of information for speed and efficiency. You will be sent a link to our online NDA. IF YOU DO NOT RECEIVE THE NDA LINK, PLEASE CHECK YOUR JUNK MAIL. If the email cannot be found please email info@caldergr.com and request a PDF version.

Once we receive your NDA and answers to some basic questions the Confidential Offering Memorandum (OM) will be sent to you from the project manager.

IF YOU DO NOT RECEIVE A FOLLOW UP EMAIL AFTER YOU SUBMIT YOUR NDA, PLEASE CHECK YOUR JUNK MAIL FIRST. If you do not see the email there, please email info@caldergr.com for support. Thank you in advance!

Detailed Information

Real Estate:
Owned
Building SF:
124,000
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Total square footage of 124,000 consisting of arena, exhibit halls, and other space.
Competition:
Investment Highlights Include: 1) Time-Tested Business: The Company has a proven business model demonstrated by its many years of strong financial performance. Its proximity to a thriving metropolitan area, versatile facility, and reputation for professionalism, are all valuable assets that the next owner can further leverage. 2) Multiple Revenue Streams: The company generates revenue from ticket sales, event promotion and co-promotion, parking, equipment rental, food and beverage concessions, catering, hall rental, in-building advertising, and mark-ups on various services provided by third parties. 3) Center of the Action: Show business is fun and exciting in ways that a manufacturing or retail operation rarely is. Meeting world-famous performers, negotiating contracts with promoters, and watching as thousands of excited fans and patrons fill the arena, are rewarding experiences in and of themselves. 4) Solid Team in Place: Organizing and rolling out large-scale events takes a great team. Fortunately, current ownership has done an excellent job building one, which allows for semi-passive ownership.
Growth & Expansion:
Growth Opportunities Include: 1) Grow with the Region: The location is consistently ranked as one of the best and fastest growing economies in the country. 2) Increase Utilization: Continuation of increases in capacity utilization, additional “high attendance” concerts, self-promoted events, and outside equipment rentals have the potential to significantly increase annual revenues. Management estimates that with the right focus and connections a new owner could increase the top line by over $1,000,000 annually.
Financing:
Limited Seller-Financing Available for Qualified Buyers.
Support & Training:
Ownership willing to provide reasonable and customary transition assistance.
Reason for Selling:
Retirement.
Business Website:
http://bit.ly/2MfWiUn
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Max Friar

Business Listed By:
Calder Capital, LLC

Calder Capital

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