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Everything has come back approved and the owners of the theatre I have been trying to buy are finally ready to sell.
They are eager to sell but will hold for me till late winter. They think it is a bad time this time of the year to get a good jump in the business. They feel the best time would be when the early summer season next year starts.
And I should start the buying procedure in February.
What are you opinions on this!

congrats, Jacker!

This business sure does seem to revolve around summer. Fall is definitely my slowest season, followed by spring. In the winter, I am one of the only things to do around here so I am pretty popular. Summer is a challenge because of all of the other things to do but my numbers are good then too.

I wonder about the motivation of your sellers to wait. If they are eager to sell, then why wait?

If you are to be first run, I would suggest closing by Nov. 1st so that you can get all the holiday product. If you can't do it by then, then yes I would suggest no later then May 1st for the summer product.

There's also something to be said for buying it during the off-season, to allow you to "get your feet wet" and get policies, procedures changed/set BEFORE the busy season. Otherwise, it can be a mess.

It is a red flag to me that they want to carry the theater thru the low/no profit time and then sell to you when it gets better. It almost sounds like you are buying from your mother.

I would buy in the slow period and be good by busy times. That would either be buy now or buy in the first of the year.

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Michael Hurley
Impresario