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TOPIC: New Cinema

New Cinema 16 Jul 2009 00:08 #31895

  • KingVision
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Can anyone help me find a way to open a theater? I think I have pretty much learned everything that I need to know and found where I can get everything, but I don't have enough money to open a theater. I thought about getting a buisness grant, but according to sba.gov, they won't give grants to start or expand a buisness. I thought about getting a buisness loan, but there is no way I will be able to get a loan for as much as I will need. The building used to be a Metro Lux 12, but the owner moved to a new location. So the building is already set up for a movie theater, but they are selling it for $2.7 million and I'm sure it doesn't come with any concession equipment, projectors, or anything like that. Any help would be greatly appreciated, thanks.
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Re:New Cinema 16 Jul 2009 08:59 #31898

  • jgleason
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That's a pretty heft price tag. Have you run any business analysis to see if this is even doable? The debt service on a couple of million bucks isn't going to be cheap. I gather this place is a large multiplex, 12 screens. What is the competition like in the area? did the MetroLux move far away or will you directly compete with them?

Pretty sure you can get a sba 504 loan if the deal involves the purchase of real estate.
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Re:New Cinema 16 Jul 2009 12:39 #31901

  • KingVision
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Well I haven't actually gone in and looked at the building, but I believe it is a 12 screen cinema, 38,000 sq. ft. There is only one other theater to compete with and it is a Metro Lux 14 about 5-10 miles away, but that theater is out of the way and everyone has to drive further to get to it. The one I would open would be closer to the middle of town. 2006's population graph shows 62,754 which is up like 19% from 2000. I also want to make at least one of my screens a 3-d one and the other theater doesn't have one. As well as I have other plans that would help me to.
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Re:New Cinema 16 Jul 2009 20:07 #31907

  • trackfood
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If that closed location is so much better, why did they build a different one 5-10 miles away? Is it owned by that theatre company? Can it even be used as a "movie theatre"? Many times clauses are put in the deed which states "property cannot be used to show commercial motion pictures" etc. to keep competition out. Do you have experience in the theatre industry? Have you worked in a theatre before? I would find out some answers before proceeding.
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