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Catering Company with Contracted Meals

Location: Eastern NC

ID: (#200666)

200666
Price:$489,000
Revenue:$700,000
Cash Flow:$182,000
FF&E (Assets):$232,000
Inventory:$15,000
Real Estate:$0

Overview

Established catering company with full kitchen in leased space that provides catering for wedding, office events and also offers take-out luncheons.

This company also has contracts with government services for approx. 2,400 meals per week. More contracts are already in negotiation, and with the recent Covid-19 outbreak, this business is set to take on additional large delivery contracts, being able to show a proof-of-concept.

SBA Cares Act Debt Relief Program: The SBA will automatically pay the first 6 months of principal, interest, and fees on new SBA loans issued prior to September 27, 2020. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief

Details

Reason for Selling:

Other business endeavors

Established:

1999

Employees:

14

Furniture, Fixtures, and Equipment (FF&E):

Full kitchen and catering equipment. All assets in good condition. Listed amount is fair market value.

Facilities:

Leased space 2,800 sqft

Competition:

Only a few comparable catering businesses in the area, of which only one can be considered a serious competitor. Demand is constantly rising in the fast-growing region.

Opportunities for Growth:

Current business location and processes allow for double volume. Existing contracts with county organizations and schools provide opportunity to prove quality of service to earn additional contracts.

Support and Training

The seller is willing to remain with the company for a certain amount of time to assist in the transition and training of the new owners. After that time the Seller and Buyer may enter into a consulting agreement for terms and conditions to be determined later.

Broker Contact Information

  • Regina Fisher
  • North Carolina - Wilmington
  • (910) 520-0737 Mobile
  • (208) 401-9523 Office
  • (208) 248-5610 Fax
  • By Appointment Only
  • Carolina One Properties Inc
  • North Carolina - Wilmington
  • By Appointment Only
  • Wilmington, North Carolina
  • Real Estate Broker: Carolina One Properties Inc