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TOPIC: New VPF program available.

New VPF program available. 20 Jun 2013 19:08 #40088

  • Andrew Thomas
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Scrabble Ventures has released details for their new VPF program. It is different from others like cinedigm, GDC, etc. in that your VPF payments never get paid out to you. They act as the guarantee of the financing in place of a credit application and a personal guarantee by the theater owner.

THe long and the short of it is this: You sign the VPF agreement and make a down payment on the projector (Any Christie Series II model with IMB and NAS, as little as $6,000 to as much as $10,000) and then monthly payments ($600/month - $1000/month) for a 60 month term. At the end of the 60 months, you own the equipment.

This may not sound like a great deal as you end up paying for the whole thing yourself + interest, but I do know a lot of theater owners that can't afford the upfront cost of converting and can't get a bank to finance it. If you are in that boat, the Scrabble plan might be your best hope of converting instead of dying.

*edit* Here is the actual price list.

Solaria One

Down: $6,000.00
Month: $600.00

Projector with IMB
Lamp CDXL-21SI
Lens
NAS


Solaria One+

Down: $6,240.00
Month: $650.00

Projector with IMB/motor kit
Lamp CDXL-21SI
Lens
Christie NAS


CP2210

Down: $7,424.00
Month: $773.00

Projector
Lens
Lamp CDXL-18SD
Christie IMB
Christie NAS


CP2220

Down: $7,537.00
Month: $785.00

Projector
Lens
Lamp CDXL-30SD
Christie IMB
Christie NAS


CP2230

$9,027.00
$940.00

Projector
LPS
Lens
Lamp CDXL-60
Christie IMB
Christie NAS


CP4220

Down:$8,296.00
Month: $865.00

Projector
CP4220 Shroud
Lens
Lamp CDXL-30SD
Christie IMB
Christie NAS


CP4230

Down: $10,017.00
Month: $1,043.00

Projector
LPS
CP4230 Shroud
Lens
Lamp CDXL-60
Christie IMB
Christie NAS
Last Edit: 20 Jun 2013 19:25 by Andrew Thomas.
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New VPF program available. 20 Jun 2013 19:54 #40093

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Sounds interesting.

But what about everything else besides the projector: server, sound processor, screen, installation, etc.?
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New VPF program available. 20 Jun 2013 21:04 #40094

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These come with the Christie IMB, so there is no need for an additional server.

But in regards to the rest of your questions, the literature says "The only other responsibility and expenditure for the exhibitor is to fund the expense of the digital equipment installation, site survey verification, projector pedestal, and any upgrades required on a per auditorium basis for 5.1 sound. "

So depending on what else you need, another $4-$7000 per screen is likely.
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New VPF program available. 20 Jun 2013 23:19 #40095

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I wouldn't call this a VPF program, but financing.
If they have no (low) entry requirements it is better then nothing I guess.
Jay
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New VPF program available. 21 Jun 2013 00:39 #40096

  • Andrew Thomas
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They offer traditional owner financed VPFs. Even will include series 1 projectors as long as you have the Gore upgrade.
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New VPF program available. 21 Jun 2013 19:42 #40097

  • tratcliff
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Do they only do Christie projectors?
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New VPF program available. 22 Jun 2013 13:21 #40099

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They only do Christie projectors for the lease to own, but will work with Christie/NEC/Barco units on owner financed equipment.
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New VPF program available. 22 Jun 2013 22:54 #40100

  • Mike
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looks like straight finance... where does the VPF come in? At that cost there's no reason to limit yourself with a VPF and make it harder to get films. If there is a vpf actually in there... which I kind of doubt... that is a huge up side for the seller. And all down side for the buyer.
Michael Hurley
Impresario
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New VPF program available. 23 Jun 2013 21:25 #40101

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As I said in previous post, it works two ways. I'll give a little more detail.

1. Owner financed VPF program. Just like GDC/Cinedigm/Christie. You sign the VPF agreement with Scrabble, buy the equipment, have it installed, send in your booking reports, get a check 3 months later. I've looked into all of them and have the contracts for all of them. Big differences between those previous VPF programs and Scrabble's is the requirements to get in and the reporting requirements. First of all, there is no 85% rule in effect and consequently there are no requirements to have been open for 12-24 months to qualify. If you just bought a theater that has been closed, you can get in as long as you install by years end. Because of the lack of restrictions on who can get in and the much less stringent reporting requirements, the VPF payments are significantly reduced. They will tell you this before ever signing an NDA, so I can tell you that it is $300 on the break, $150 off the break which is $225/112.50 off the break. That is roughly 1/3rd of what the other guys were paying. But this program is mainly designed for low grossing theaters that couldn't get into the previous VPF programs for one reason or another.

2. Scrabble's Lease-to-own VPF backed program. If you are a theater that can't get financing the traditional route (Low profit theater, no/bad biz credit, no/bad personal credit, length of time open), this is potentially a good option. Because you are the type of theater who can't get a bank of lease company to work with you, Scrabble will put you into their VPF program and keep the VPF payments as security against you defaulting on the lease. The VPF payments stand in place of your biz/personal credit for the purposes of financing the lease.
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New VPF program available. 17 Jul 2013 17:31 #40158

  • russmisti
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Andrew, you seem to know a lot about the VPF programs. We are trying to start a new theater in our community. The old one closed 2+ years ago and was not digitally converted yet. We don't know much about the industry, but are trying hard to learn. Could you please help advise us on how we might still be able to take advantage of these programs. Honestly, I don't even understand what a VPF is and how that works exactly. We are wanting to do 4- 5 screens, so financing options are important to us. I would appreciate any help you could give us.
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New VPF program available. 21 Jul 2013 02:23 #40160

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Email me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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