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TOPIC: Lease in a 4-Screen Theater

Re: Lease in a 4-Screen Theater 08 Sep 2011 16:16 #36927

  • JPRM
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A couple of things...

I don't want to be misread too much here. I'm a very long way from "warm" on the idea of paying 10% gross sales. I just don't dislike it as much as other folks. More importantly, it's just one aspect of a proposal I'm trying to sort through on which negotiation has not even begun. So, I want to hear thoughts on the 10%, but please don't assume that that means I like it. For what it's worth, I'd MUCH rather pay the $10k and a higher percentage of profit. Obvious, right?

Now, the reason the current tenant (a theater chain) is paying month-to-month is that it's opened two other first-run theaters that compete directly with this one. They've been in this space for around 15 years, but it's a white elephant for them now. In any case, month-to-month is a recent thing with this tenant. I can't imagine they had any illusions about keeping this place going once they built the other two locations.

I hope that's all fairly clear. Man, I want to hear the hard news from y'all, but please don't assume if I say one thing that it means something else. I know I can bore y'all enough without having to repeat myself.

On oversaturation, etc., I don't see that as a problem in this market. This is as good a movie town as you'll find anywhere, and folks are great about supporting second-run here. My biggest concern as far as all that goes is that I'd rather have this place in a neighborhood instead of downtown.
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Re: Lease in a 4-Screen Theater 27 Oct 2011 22:46 #37300

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Things are coming along slowly but surely on this place. The latest bit being discussed is the possibility of free rent for awhile. I'm liking that, obviously. My guess is that the monthly is going to become more attractive, too. I like a higher percentage of gross sales with no base, but what do y'all think?

Getting to break-even every month looks pretty doable if I can get in for a % of gross. What I need to break even doesn't look too scary. But - for business plan purposes - is there any figure for monthly I can project with any credibility?

What do you think? A 3 or 4-screen with beer, pizza and traditional concessions.
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