First of all I'm excited to be a member of this forum and looking forward to hopefully joining the ranks of independent cinema owners. I'd like to thank all of you for taking the time to share your experiences, opinions, and facts to all of us looking for answers.
I'm an entrepreneur looking to get into the independent cinema industry. I'm looking to purchase a 2 screen theatre in the suburbs of Boise, ID. Here are a few specs on the area:
City: Caldwell, ID & Nampa, ID
Location Demographics: Suburban area surrounded by farming communities. There are two colleges, five high schools, nine middle schools, and dozens of elementary schools within a few miles of the theatre location and several of them are within a few blocks. That's not counting several smaller private schools in the area as well.
Site Location: Small, newly developed business park located at intersection of the main roads feeding community. Park is immediately surrounded by dozens of subdivisions and schools. To put it simple, everyone who lives in the area drives by this business park everyday.
Local Theatres: 1 Fourteen screen theatre, 1 One screen dollar theatre, 1 One screen dinner & movie theatre. All five miles from my desired location in Caldwell.
The theatre I'm looking to purchase was abandoned in 2008 while in the midst of construction due to financing problems (surprise, surprise). It's about 75% complete. The structure is complete but basically in a shell state as far as the interior goes. It's bank-owned and the asking price is $275,000. My realtor thinks I could get it for $200,000 seeing as it's a distressed property. We'll see though… The theatre is one of five buildings in a new business park in a newly developing area.
My dream is to build a movie theatre that brings back the big screen cinema experience of previously released films, especially great movies before this new age of cinema mediocrity (I think we all know what I'm talking about.) However I want to also make it a multi-purpose facility where I can put on video gaming tournaments, music productions, and educational/business seminars.
From research that I've had collected throughout the area I confident that this sort of facility would be popular. I think if I especially took the video game side of the plan seriously I could make a lot of money. I'm assuming that I need to go all digital in my media hardware to accomplish what I'm looking to do.
My questions are first of all from other's expert opinions does this sound like a profitable business plan? Second, is there a theatre design I should be aiming for? Third, is there equipment that can deliver big screen quality from DVD (or whatever media would best serve my purposes) while also allowing me to hook up video game consoles without having to setup a completely separate system? Fourth, is it also a possibility to compete as a 2nd run theatre inside the demographics I've given?
I continue to research the archives on this website for information but so far I'm not having too much luck in answering questions to my unique situation. Maybe my dream is too big or too unconventional. Like I said, I'm an entrepreneur so blazing new trails is what I like to do. I would appreciate any feedback any of you might have!