Premiere Banquet & Convention Center For Sale

Business description

One of Central Maine’s largest and longest operating banquet facilities and restaurants. Full turnkey buffet operation with over 200 seats and a banquet room that can accommodate up to 350-person functions. Long term history of one million plus in annual sales. All furniture and equipment included in sale.

Property information

Real Estate:

Lease

Location:

The building may be leased or is available for sale. It features ample parking, outdoor signage and a convenient location on a major thoroughfare. The first floor houses the main restaurant, bathrooms, kitchens and banquet rooms. The second floor houses several small meeting rooms and the offices. A bar and club are located on the basement level.

Other information

Expansion potential:

The business’ proximity to the state capital and the lack of large banquet facilities in the area give it a competitive edge for weddings, conventions and government functions. The excellent business opportunity combined with a favorable sales price makes this a superb business and investment opportunity.

Competition / Market:

The business is located in a market area that is served by national chain restaurants but underserved by local specialty restaurants. The businesses long history gives has given it a solid niche in the local restaurant market. Buffet restaurants have a perceived value that generates strong sales during economic slow downs. Well operated buffets can provide superior margins over traditional menu items.

Support & training:

Support training will be provided as needed.

Reasons for selling:

Corporate restructuring – divesting operations.

Financing available:

Anticipated Seller Financing $100,000. Down Payment $50k. Working Capital Needed $50k

Furniture / Fixtures value:

$100,000

Contact the seller