SimFilms;
Nice thing about the night before cheap night, plenty of time to write . . . .
You didn't say if you are building or taking over exisiting structure. Under the heading of getting right to the point:
I would be curious if there is any town on this planet of 8000 people that would support a four-plex art house. i would think not. if i were doing what you are considering, i'd start with and exisiting building and make it two screens. one about 120 seats, the other 80. call the movie companies or get a booker and find out if you have to clear the theaters down the road (meaning you can't touch product until they are done with it). If you don't, you can make one screen first-run or sub-run and try a couple hot art titles on the small screen to see if the town picks it up. you are looking at at least three years of no money coming in before you even have a hint if this will work. to paint with a VERY broad brush: you can renovate an exisiting 4000 sq.ft. building (15ft ceilings, no posts)to what i suggested for around $75k(if you do most of the work yourself and there's some nepitisum involved with the inspectors). you have to keep rent under .40 per sq ft. if you go over $75k and .40 per sq. ft., you'll never catch up. even then, after three years yer gonna have to gross over $150k per year -- assuming film rents don't climb.
I'd do a hard search and see if there are any theaters grossing that much in a community that small. my last theater was in a community of 10k and we would have killed to have a gross of six-figures in a year.
i have a 100 seat art house in a community of 50k. i renovated an old building and did most of the work myself with the help of my teenaged daughter. we've been open three years and i'm looking at another three before i pull out a wage. i did my homework very carefully and had the help of many theater people. most months we don't even pay the rent. when the rain hits we get caught up on the bills and get ready for the next summer.
think before you leap. get as much info as you can. primarily, find out what you can play without clearing the competition. ok, gotta ck and see if i'm still on the screen. best of luck. Paul