Field Notes: Profitable Catering Company

Savor the Opportunity of a Gourmet Goldmine in Tampa Bay’s Suncoast

An award-winning catering company located in Tampa Bay’s Suncoast, with long-term management in place, lender pre-qualified with seller financing available, and a semi-absentee owner ready to retire pulling in $620k SDE?

Sign me up!

Before you read the rest of the Field Note, listen to the entire episode of ‘First-Timer Turns $20k into $900k in 19 Months’ on the Acquiring Minds podcast.

Oh, you’re back? Yeah, I thought you might want to take a closer look at this business listing. I don’t have the name of the company yet, but I’m nearly certain it’s a catering business a couple of blocks from where I live. There aren’t many of them. I’m tempted to go for the CIM myself, but it may be too early for me. If you’re out of town and get the CIM, I’d be happy to go take a look at the business for you.

The Business

So, picture this: A culinary titan in Tampa Bay established in the neon glow of 1985, is stepping into the spotlight with a price tag of $1.6 million based on respectable SDE of $620k on a cool $2.4 million in revenue.

Business Strengths:

• Award-Winning Reputation: The company’s accolades and stellar reviews in the wedding, corporate events, and private catering sectors underscore its position as a premier service provider. Recognition not only attracts new clients but also builds trust and loyalty among existing ones.
• Efficient Operations: The business streamlined its menu design and preparation processes for ease of ordering for clients and efficient kitchen operation. This contributes to lower inventory needs and maintains higher margins.
• Facilities: Equipped with state-of-the-art kitchen facilities and occupying an 8,500 sq. ft space that includes offices, a tasting room, a kitchen, a dishwashing room, and a warehouse, the company is well-positioned to handle an increased event load if the new owner decides to expand.
• Team: 76 employees, including long-term management and seasoned staff, is a solid foundation for both maintaining high standards and pursuing potential growth.

Transition and Training:

The current owner, now in his 60s and managing the business semi-absentee, indicates significant growth potential for a more hands-on or ambitious owner. Expansion opportunities could include increasing daily event capacities or extending service offerings. A commitment to a smooth transition is evident, with the seller ready to retire and offering two weeks of training at no cost.

What you’ve got is a proven track record, a comprehensive operational setup, and ample room for growth. With seller financing available, it appeals to investors looking to enter or expand within the catering industry, offering a turnkey solution with a path towards increased profitability and market expansion. And if you listened to the Acquiring Minds episode, you probably already realized the benefits of deposits based on future jobs.

About: Silverwave Field Notes combs through and analyzes thousands of businesses available for sale that may be of interest to entrepreneurs looking to acquire an existing business. We are not affiliated with the business listed for sale unless otherwise disclosed. The business highlighted above is represented by Murphy Business & Financial Services.