Strategic Analysis with current research!
If you enjoy watching movies, opening a movie theater can provide you with an opportunity to profit from the major blockbusters that Hollywood produces. Opening a movie theater is a big venture that requires a great deal of planning.
Before you get involved with this type of project, make sure that you understand the steps involved. Conduct a feasibility study on your area. A feasibility study will help you determine if your area can support a new theater. If you live in a large city, it will help you determine if your business will overlap with other theaters in the area.
If you live in a smaller town, it will help you figure out if a theater would work in your city. Create a business plan for your business. This should include information from the feasibility study that shows that your business can be profitable. Include financial projections in your business plan.
Secure funding for your theater business. You will typically need to show the business plan to investors or a commercial lender so that you can obtain financial support. Find a location for your theater.
In some cases, you can buy or lease an existing space and renovate it.
Or you may need to build a new theater. Regardless of what type of space you use for your theater, it will typically take a large investment.
Get a business license from your city. You will also need to register your business name with the local county clerk. Agree to a deal with a movie distributor.
To gain access to the movies that you will show in your theater, you will have to lease them from a movie distributor.
You can choose whether you want to show first-run or second-run movies at your theater. The new releases cost considerably more than those that have been out for some time.
Set up concessions in your theater. This will include purchasing a soda fountain, a popcorn machine, candy and other items that you can sell in the theater.
Promote your theater in the community. You may want to have a grand opening so that you can showcase the facilities and generate interest in your movie theater.
Consider offering an introductory special, such as a two-for-one ticket deal. Tip While it may be more expensive, getting the latest equipment available for your theater can help attract customers. For example, offering 3D movies and the best sound system available can make the movie experience more enjoyable.
Warning Starting a theater can be a very expensive proposition. With the high costs of leasing new movies, you have to bring in a large number of customers before you can be profitable.Theatre Bristol Business Plan - Theatre Bristol | March 3 audience in the live event.
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A movie theatre business requires a detailed and comprehensive operational plan, marketing strategy, growth strategy, local demographic stats, profile of direct competitors, competitive analysis, and 5 year pro-forma financial plan.