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B&B Barn & Country Weddings and Events Venue Business
North CarolinaListing DetailsOffice ID: EVENTS5
Status: Expired
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $2,100,000
Gross Revenue: $249,957
Cash Flow: $152,190
12 Month Forecast: $275,000
Forecasted Cash Flow: $175,000
Inventory: $50,000
Inventory Included: Yes
FF&E: $119,532
FF&E Included: Yes
Acreage: 22.136
Real Estate: $1,850,000
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Seller will consider 20% Owner Financing for a well qualified buyer. The real estate and business are being sold together. Seller may consider selling the business and leasing the real estate and facilities to a well qualified buyer with an option to purchase at a later date.
Home Based: Yes
Reason for Sale:
Owners have reached the point in their lives where they want to plan for the successful succession of their business and farm so they can retire.
Training:
Owners will train and support new owners to ensure a successful transition of the business and farm.
OperationsYear Established: 2006
Form of Ownership: Sole Proprietorship
Employees (full-time): owner
Employees (part-time): 2
Business Hours: Weekends
Summary
Business Description:
Very successful and well established Bed & Breakfast, Barn and Country Weddings and Events Venue Business. The business and venue are very popular for Brides who want a "traditional and authentic" Barn and/or Country Wedding. The venue draws very well within a 125-mile radius, with Brides reserving dates more than a year in advance. The farm is located on 22.136 acres of beautiful farm land in Chatham County, North Carolina. The farm includes a 6,272 sq.ft. main house (B&B), which includes 5 luxury suites, wine cellar and professional kitchen, 2,880 sq.ft. fully furnished Barn for Weddings and Events, a 2,880 sq.ft. Wedding and Events Pavilion, a 998 sq.ft. stand alone professional kitchen for catering, a 576 sq.ft. old time general store, a 640 sq.ft. Bride & Groom Dressing Barn, a beautiful one acre fish pond with water fountain and stocked with fish, maintenance yard and buildings and so much more. The entire property is beautifully landscaped and well maintained. The list price for the real estate with all improvements, buildings and facilities is $1,850,000 plus $250,000 for the business firm. THE PRICE IS NOT NEGOTIABLE. The business has already booked more weddings and events (41) for 2015 than it had for all of 2014. Venue rental income for 2014 was $249, 957.00 and this does not include any B&B boarding income; because the owners, now in their early 70's, made a lifestyle decision to no longer board wedding party guests in the main house during 2014. Any new owner could immediately capture this additional revenue by simply accepting the wedding party as boarding guests for the weekend of the wedding. The list price for the Barn and/or Country Weddings and Events Venue Business is $250,000 firm. THE PRICE IS NOT NEGOTIABLE. The farm is located in the heart of Chatham County where one of the largest planned development communities in the country is under construction; Chatham Park, a 7,000 acre real estate development that includes 22,000 new residential homes and 22 million square feet of commercial, retail and civic building development over the next 40 years. This development will create 61,000 new jobs in Chatham County with an estimated local economic impact of $80 Billion. Citing Dr. Michael Walden, North Carolina State Economist, Economic Impact Study for Chatham Park Economic Development Corporation.
Owner Qualifications:
This is a "lifestyle" business for a couple or family that want to own and operate a very successful and well established Bed & Breakfast, Barn and/or Country Weddings and Events Venue Business with plenty of opportunity for growth and expansion. Seller will consider 20% Owner Financing for a well qualified buyer. The real estate and business are being sold together. Seller may consider selling the business and leasing the real estate and facilities to a well qualified buyer with an option to purchase at a later date.
Competition:
There is very little competition for an "authentic" and "traditional" Barn and/or Country Wedding venue within a 125-mile radius. However, there are numerous city wedding venues that compete for weddings in the surrounding area; i.e. churches, hotels, private residences, etc.
Potential Growth:
Well established business with excellent reputation in the community (125-mile radius). Business can be expanded into other services; Corporate and Faith Based Retreats and Events during the week, Cabins for additional lodging and weekend recreation, Equestrian and other outdoor recreational activities since the property is located very near the Jordan Lake State Recreation Park. The main house (B&B) does not currently accept boarding guests, due to a lifestyle choice by the current owners, therefore, new owners could immediately add wedding party guest lodging revenue for all weddings. Tremendous growth and business expansion possibilities abound.
LocationType of Location: Stand Alone
Real Estate for Sale: Yes
Real Estate: $1,850,000
Square Footage: 10726
Facilities:
The farm is located on 22.136 acres of beautiful farm land in Chatham County, North Carolina. The farm includes a 6,272 sq.ft. main house (B&B), which includes 5 luxury suites, wine cellar and professional kitchen, 2,880 sq.ft. fully furnished Barn for Weddings and Events, a 2,880 sq.ft. Wedding and Events Pavilion, a 998 sq.ft. stand alone professional kitchen for catering, a 576 sq.ft. old time general store, a 640 sq.ft. Bride & Groom Dressing Barn, a beautiful one acre fish pond with water fountain and stocked with fish, maintenance yard and buildings and so much more.
Last Updated: Dec 18, 2017 / 11:53 AM
Financial Information Current As Of: Feb 7, 2015 / 1:37 PM


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Real property represented by ENLIGN Commercial
2009 Caminos Drive, Raleigh, NC 27607
919-341-1100
ENLIGN Commercial