Northeast Indoor Venue Sold for $28K, 37 Days to Close

About the Business

• Industry: Recreation – Indoor Entertainment Venue with Mobile Events

• Location: Northeast

• Size: $200K–$250K in annual revenue, part-time staff

• Sale price: $28,000

• Accepted offer to close: 37 days

The Challenge: Handing Off Before the Lease Was Up

Life changes prompted the owners to sell, and the venue's lease was coming up for renewal. They needed a buyer who could take over on that timeline.

37 Days to Close: One Counter, a Better Deal

What happened at every stage

1. Valuation: Baton valued the business and built a data room with recorded video Q&A from the owners.

2. Buyer Outreach: Baton listed the business on its marketplace and BizBuySell and reached out to competitors. 140+ buyers viewed the listing, and the winning buyer came in through the Baton listing and data room.

3. Offer Selection and Negotiation Support: The buyer offered $25,000 with $1,000 at closing. Within 30 minutes, the Baton advisor countered on the owners' behalf, and the buyer accepted $28,000 with $3,000 at closing.

4. Diligence and Closing Support: When the buyer sent his draft purchase agreement, the Baton advisor introduced the owners to two partner attorneys the same day and relayed their requested protections to the buyer. The deal closed 37 days after the accepted offer.

The Results

The buyer is a local entrepreneur who owns several businesses and planned a more mobile-focused approach. Through Baton's process, the business:

• Sold for $28,000, 12% above the buyer's first offer

• Tripled the cash at closing in a single counteroffer

• Transferred the venue equipment, mobile events unit, brand and customer list in one asset sale

What's next for the owners?

The owners provided a full training day and up to an hour a month of support through the buyer's first year.

Advice and Lessons for Future Sellers

1. Counter quickly. A counteroffer sent within 30 minutes raised the price 12% and tripled the cash at closing.

2. Point to your hard assets. The value of the mobile events unit helped justify the higher price.

3. Get your own attorney. When the buyer drafts the purchase agreement, a seller-side attorney protects the owner's interests.