Indoor Cornhole & Recreation Facility
| Asking Price: | $60,000 |
| Rent: | $2,420/Month |
| Established Year: | 2021 |
| Gross Revenue: | $60,000 |
| FF&E: | $5,000 |
Cornhole Craze in Somers Point, NJ
Business Overview:
Established in 2021, Cornhole Craze is New Jersey’s first indoor facility dedicated exclusively to cornhole, offering a unique space in Somers Point for both casual and competitive players. While the current owners haven’t been able to fully focus on growing the business, it is well-positioned for success with new, hands-on ownership. A dedicated owner could extend operating hours, expand leagues, organize more events, and increase party bookings to boost profitability. This turn-key business is primed for growth and could be expanded to additional locations beyond Somers Point. It also presents an ideal opportunity for franchising to other entrepreneurs. This 5,000 sq ft open space is also optimal for other, non-cornhole related events like indoor golf simulators, comedy shows, dances, beer Olympics, etc.
Facility and Assets:
- Size: 5,000 sq. ft.
- Number of Cornhole Lanes: 6 professionally maintained lanes.
- Other Amenities: On-site lounge bar, kids room, seating and tables for spectators, and rental equipment for private events.
- Equipment: Sale includes all cornhole boards, bags, furniture, TVs, streaming equipment, lounge bar equipment, refrigerators, and POS system (which includes tablets and FIRESticks).
Included in the Sale:
The sale also includes ownership in 609 Cornhole New Jersey Inc., a nonprofit entity that generates funds for scholarships aimed at young, aspiring cornhole players. The nonprofit helps grow the game of cornhole by supporting youth involvement and development, offering a unique value proposition to the buyer and the community. 609 Cornhole New Jersey, Inc. allows ownership access to Social Affairs permits granted by the City of Somers Point 12 times per calendar year. These permits allow for the sale of alcoholic beverages within Cornhole Craze by 609 Cornhole New Jersey, Inc. to raise funds for its mission.
Additionally, Cornhole Craze operates a mobile tournament and event service called "Craze-on-the-Go”. With 15 portable cornhole board sets, the business offers offsite tournament and event services, organizing cornhole events for various organizations, private events, and large-scale gatherings. This additional revenue stream provides a great opportunity to expand the business beyond the physical location.
Financial Information:
Cornhole Craze currently operates with low profitability due to limited owner involvement, but it has tremendous growth potential. An owner with the time and resources to dedicate to the business can easily expand its operations.
- Annual Revenue: $60,000 (2023), $55,500 (2022), $74,500 (2021)
- Net Profit: Minimal (due to limited operations)
- Asking Price: $60,000
- Growth Potential: The business has substantial room for growth by increasing lane rentals, league play, hosting more tournaments, and offering private events such as corporate team-building sessions and birthday parties. The “Craze-on-the-Go” service further allows the business to grow by targeting offsite events.
Customer Base:
Cornhole Craze attracts a wide demographic, including families, casual players, and competitive enthusiasts. The facility's reputation as a dedicated cornhole venue makes it a prime candidate for hosting large-scale events and regional tournaments. Additionally, 609 Cornhole New Jersey Inc. opens doors for fostering a new generation of cornhole players through scholarships and youth programs.
Reason for Selling: The current owners are unable to dedicate the time needed to manage the business full-time. This creates an excellent opportunity for a new owner who can invest time and energy into expanding the business and its community outreach efforts.
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