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I am considering opening a two screen 2nd run/ cinema/ brew/wine house in my local town. The site would be on a closed historic theatre (opened in 1909) that is now completely empty (project would invlove complete build out).

Demographic Overview
-21k population in town
-65k population in adjacent two towns (10 minutes)
-median household income of ~$95k

Direct Competition
-1 4 screen 1st run independent located in one of the direct adjacent towns

Other Competition
-1 20 screen 1st run mega plex in a non adjacent but driveable location (25 minutes)-- This theatre serves 200k population+
-1 6 screen 2nd run also 25 minutes
-1 1 screen art/ international (20 minutes)

Interesting demographic is that the primary town of the location is a pininsula with only two roads entering/ exiting the town-- The local town is robust with many shops, etc. but the entry/ exit is limited.

It seems like this demographic overview would be supportive of my concept-- Any thoughts ?

I'm not sure selling booze will cause people to wait until a film hits your house to see it. I would consider other films (foreign, classic, inspirational, independent) and lower prices with expanded concessions offering. I would also try "film club" memberships. You seem to have a good population base and may be able to draw from the surrounding areas. The main thing is BE DIFFERENT.

Bob