25,000 SF Building, 5800 SF Home, Million Dollar Business

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Description of Property and Business
Asking Price:
$2,000,000

Gross Revenue:
$1,200,000
Cash Flow:
 Not Disclosed
EBITDA:
$180,000
Inventory:
$40,000
included in asking price

FF&E:
$1,000,000
included in asking price

Real Estate:
$2,100,000
included in asking price

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Business Description

This business and this home are the results of a lot of blood, sweat and tears poured out by myself and my wife for many years. We have been entrepreneurs for nearly twenty years and we are ready to relocate out of the area at this time. I realize marketing a home alongside a business is unique and of course the items can be purchased independently but I also know that our business and our home are tremendous values if purchased together.

The business (and home) are located in Southwestern Wyoming with Interstate 80 passing right through our town. I would expect the majority of the future growth to come to this business by someone with a concept that can get the endless flow of traffic off of the Interstate and into the facility. A concept that may be considered is a recharge station for electric cars as no such facility exists in our town.

As an owner, I am confident that I have captured much of the local retail and commercial business but I am sure there are opportunities that I have overlooked when it comes to diversifying our marketing plan. I am not well versed in social media and I am sure a savvy marketeer could harness an entirely new clientele with minimal effort.

The physical attributes of the commercial center are a 25,000 square foot facility housing a 20 lane bowling center, a large lounge area with full packaged and retail liquor license and a cafe type dining area with a commercial kitchen to accommodate serving food to the entire facility. Adjacent to the main facility is a 12 unit RV storage facility with easy access and instant cash flow.

The commercial catering side of the business is what brings the easiest and most consistent cash flow to the business. A substantial commercial catering clientele exists plus a six week summertime contract totaling nearly $120,000 is already in place for anyone willing to take possession prior to July 1, 2019 when the job is scheduled to begin. This contract will create an immediate positive cash flow in a typically slow time for this seasonal business.

During peak times our payroll can grow to nearly twenty employees while our core staff consists of seven hard working and professional employees that are the backbone of our customer retention. We have tried to provide our staff the independence and training to succeed with minimal effort on our part and for the most part it can be a hands off business.

The community is optimistic substantial expansions are going to be approved in the short term to grow our Trona industry creating more high paying jobs and increased commercial catering opportunities. The region, as a whole, is impacted by natural gas pricing but the stability of the area comes from the four major Trona mines along with two coal mines, a power plant and a fertilizer plant.

The area is known for low crime and is supported by one of the best school districts in the region. Our community, through grants offered by the mining industry, invests in our school districts and we have some of the most modern aquatics centers and athletic fields in the region.

This business is ideal for someone that wants to operate a busy business during the nine winter months and take the summers off during slower times. You can launch your power boat on the Flaming Gorge Reservoir within thirty minutes of your home or you can launch your drift boat on some of the world’s best trout rivers within an hour’s drive. The Grand Tetons and Yellowstone are about three hours to the north while the big city accommodations of Salt Lake City are three hours to the west.

The business generates $1.2 million per year in revenue and the commercial property has an appraised value of $1.6 million. The home has a market value of $550,000. The asking price of $2 million for the whole package is derived from our desire to make a fairly quick sale and transition out of the area. Owner financing would be considered

About the Business

Location:
Green River, Wyoming
Year Established:
2013
Number of Employees:
7
Real Estate:
Owned
Facilities:
The facility sits on a six acre plot providing plenty of accessible parking for buses. The building itself is a steel structure with a membrane roof that received care to seams within the last twenty four months. The kitchen appliances were upgraded upon remodel of the facility in 2014. A complete sewer and drain clean out was performed in the fall of 2018 with one final area needing to be completed this spring but all plumbing received passing marks once cleaned out. Refrigeration compressors have been updated in the last two years.
Market Outlook/
Competition:
Community recreation competition is minimal for the bowling facility. An old two screen movie theatre is across street from our facility but we try to promote each other’s business through promotions and drawings for events. A city owned recreation center is in need of updating but it does offer competition by providing skate night and swimming activities plus they host birthday parties. The community center business is underserved in this community and our business definitely hosts the majority of gatherings and social events.
Growth & Expansion:
Growth opportunities- Arcade Games are the next piece that we were considering to add. We offer some games through a third party vendor but I feel this market has upside potential. Legalized coin pusher machines and slot machines are very popular in a similar community close by but our city council has yet to approve such games. I am optimistic this approval is in process.
Capturing traffic from I-80 and giving them a reason to stop at this facility should be a priority to see immediate sustained growth.
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About the Sale

Reason For Selling:
Family desire to relocate for new opportunities
Training/Support:
Training and support are available for as long as necessary. We really want the new owners to succeed and an introduction to clientele both retail and commercial will be key to initial and long term success. The staff will remain intact but an overview of business operation and day to day contacts with vendors and customers is critical to a seamless transition.
Seller Financing:
Substantial down payment required, term to be ten years or less

Listing Info

ID:
1434143
Ad Detail Views:
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Business Listed by
Perri Rubeck

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