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Re:Buying a movie theater (I hope) 03 Nov 2008 12:58 #30278

  • jgleason
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Hi Ken,
Thanks for the info regarding the platter system. I've been looking at equipment from Cinequip (American Cinema Equipment) and the film-tech web site has been a great source of info. I'm reading up on everything I can find.

I want the presentation to be very good so I will be upgrading the booth equipment prior to opening. (assuming I get that far of course)

Alas, the video games aren't there anymore. There is a huge space downstairs which was last run as a video rental business. I need to check with the City to see what other uses I can make of the space.

There is a bunch of cleaning and repainting to do. I will probably redo the concession area too. Been thinking about going self-serve for the soda. I'll keep to the basics at the concession stand - soda, popcorn and candy.

Jacker - Are you located in NH?
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Re:Buying a movie theater (I hope) 03 Nov 2008 15:38 #30283

  • jacker5
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I have some info that may be helpful!
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Re:Buying a movie theater (I hope) 03 Nov 2008 15:55 #30284

  • rdetzler
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jacker, give me a call I believe I can be of some assistance to you and the Berlin location. Especially if you are looking for seats or sound stuff.

Roger Detzler
IOKA Entertainment
603-781-8922
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Re:Buying a movie theater (I hope) 07 Nov 2008 11:03 #30299

  • jgleason
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OK, serious question ahead...

I am trying to put a number down for estimated annual ticket sales. I want the number to be realistic so please provide constructive criticism of my calculation:

1. Population within 10 mile radius = 15,000
2. People attend the movies 5 times per year (on average)
3. Percent of population going to the movies = 50% (7,500 people)

So, the number of tickets I could expect to sell annually would be 37,500 (7,500*5)

I'll have two screens, capacity of 110 for each. Max tix available annually is 148,720 (all seats sold for all shows. 13 shows a week for each screen)

If I take the 37,500 projected tix sales and divide by the max tix available it works out to 25% capacity on average for each show. Seems high to me. I think I saw some capacity percentages by month that someone posted on the forum. Can't seem to find it now.

Is my assumption in point #3 valid? Should it be lower? I need a number that I can believe.
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Re:Buying a movie theater (I hope) 07 Nov 2008 11:49 #30300

  • slapintheface
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What is the ticket price??Most people i know that have that population do about $1,200 to $1,800 per week in tickets sales per week.Cansy for that type location should be 35% to 40 %of your box office.Out of that % 80 % is profit.
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Re:Buying a movie theater (I hope) 07 Nov 2008 11:50 #30301

  • slapintheface
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should read =candy
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Re:Buying a movie theater (I hope) 07 Nov 2008 12:15 #30304

  • Mike
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Do you then own the entire building or it that just a leased space?

I am in Maine +/- 4 hours from Concord: you are welcome to tag along my staff.

What do you have for heat? Insulation?

Roof cost? You should insulate roof and then roof.

Where do those people go to the movies now? How far do they have to drive? Are any of the fifteen equidistant to a multiplex?

I'd bring it down to +/- 32,000. Max.

Have any ski or tourist traffic?
Michael Hurley
Impresario
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Re:Buying a movie theater (I hope) 07 Nov 2008 13:57 #30305

  • jgleason
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I'm planning a $6 ticket price right now. Closest theater is a 45 minute drive. They either go to Lancaster (single screen 45 minutes away), Littleton(twin screen 45+minutes away) or North Conway (twin and a 7 screen plex 45+ minutes away).

I would own the building. Heat is a one year old Slant Fin boiler with steam radiators, uses oil for fuel. AC is a Carrier, older but working alright. False ceiling 14' below original ceiling, created an attic space where ductwork runs. This is insulated with fiberglass batts. Below that is hte auditorium ceiling, a standard drop ceiling grid with 2'x4' tiles.

Right in the middle of the White Mountains. This used to be a big paper mill town but the mills have mostly shut down.

Thasnks for the offer Mike. You are a touch far away but I might be able to get over your way in the near future. In the meantime, there is a single screen operation about an hour away that I'm going to check out. A friend of mine knows the owner so I should be able to work something out with him.
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Re:Buying a movie theater (I hope) 12 Nov 2008 13:38 #30335

  • jgleason
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I put in an offer to purchase the property yesterday. Waiting to hear back now. I know there was at least one other group interested and they may have put in an offer as well.
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Re:Buying a movie theater (I hope) 13 Nov 2008 20:30 #30343

  • jgleason
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Someone appears to have beat me to it. :( (if you put in an offer, please let me know via pm) I guess things could change if the other offer falls through for some reason.

Well, its a wait and see situation now. In the meantime, I'm still looking.
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Re:Buying a movie theater (I hope) 14 Nov 2008 08:29 #30348

  • Dexxa
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Sorry to hear that someone else's made an offer for the building,

Why not buy a large warehouse or retail unit and turn that into a cinema?
That way you can design it to your own standards,


jgleason wrote:
Someone appears to have beat me to it. :( (if you put in an offer, please let me know via pm) I guess things could change if the other offer falls through for some reason.

Well, its a wait and see situation now. In the meantime, I'm still looking.
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Re:Buying a movie theater (I hope) 09 Dec 2008 12:41 #30498

  • jgleason
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Thought I'd give an update...

My offer was accepted in second position to the first offer. I decided to keep my offer active, hoping that the first one falls apart due to financing or contingencies. Too soon to give up but every day that goes by brings the other people closer to their closing date.

I hate waiting. :(
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Re:Buying a movie theater (I hope) 11 Dec 2008 03:22 #30501

  • jacker5
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Hi,

Sorry read this on the TBA site owners of the Rialto in Lancaster NH.

www.tbatheatres.com/
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Re:Buying a movie theater (I hope) 11 Dec 2008 06:52 #30502

  • jgleason
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:( I've been checking their web site every day. Looks like they posted that sometime yesterday afternoon.

I knew they had gotten their financing but had heard there were still some contingencies to be met and at least one that was a potential deal breaker. They must have worked through all of that otherwise why post the info on their web site. Bummer. :(
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Re:Buying a movie theater (I hope) 11 Dec 2008 09:02 #30503

  • dnedrow
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I'm always amazed at how absolutely awful most independent movie theatre web-sites are. Crowded, black backgrounds, multi-colored fonts, decorative fonts, etc. The list of bad design elements goes on. Many sites don't even have a clear path to show times. Of course, the major chains don't do much better. ;)
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