Should I pull the trigger on this situation?

Nick

Hi, I'm 26, super polite and friendly by nature. I worked as a manager at a 5 screen Corporate owned movie theatre in a midwest town of 15,000 for 4 years. Very dedicated, loved my job. The current manager has let the theatre go (it was already old and in bad repair when I started there)... road sign falling apart, poster cases damaged, show-times barely visible on poster cases (no times on road-sign), building interior in bad poor condition from ac/heat units to restrooms to wall paper to carpeting to screen condition. to sound to seats to etc. etc. Was 35mm but I heard they are getting a digital/3D projector or two from Corporate in the next few weeks. They were the last theatre to get converted. Last I saw the books (2012) theatre was making $90-100k profit a year. Rent (strip mall) was $10k a month, outrageous I know. Manager was payed 35-42k a year based on performance. 2 hourly managers payed 18-22k a year depending on performance. Nearest other AMC theatre (built in 1997) is an 8 screen 35 miles away in a town of 34,000 which has basic facilities and digital/3D projection. Around 13,000 additional residents in rural communities within a 20 mile radius of the 5 screen theatre's community of 15000. I know that's not a lot of information, but based on this, should I attempt to get a loan, investors, financing, etc. and open a competing theatre in the town?? I have experience, excellent credit, familiar with customer base, I'm not tied down to my current job and would love to manage Full-Time to save on my own costs (I can live off 20-25k a year) and build capital, pay off loans and investors. SHOULD I GO FOR IT? Would you build or lease? How many screens? Arcade? Etc. etc. I did this on my Iphone so sorry It's not punctuated well. THANKS!

Answer
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Should I start this business?

Nick

Hi, I'm 26, super polite and friendly by nature. I worked as a manager at a 5 screen Corporate owned movie theatre in a midwest town of 15,000 for 4 years. Very dedicated, loved my job. The current manager has let the theatre go (it was already old and in bad repair when I started there)... road sign falling apart, poster cases damaged, showtimes barely visible on poster cases (no times on roadsign), building interior in bad poor condition from ac/heat units to restrooms to wall paper to carpeting to screen cond. to sound to seats to etc. etc. Was 35mm but I heard they are getting a digital/3D projector or two from Corporate in the next few weeks. They were the last theatre to get converted. Last I saw the books (2012) theatre was making $90-100k profit a year. Rent (strip mall) was $10k a month, outrageous I know. Manager was payed 35-42k a year based on performace. 2 hourly managers payed 18-22k a year depending on performance. Nearest other AMC theatre (built in 1997) is an 8 screen 35 miles away in a town of 34,000 which has basic facilities and digital/3D projection. Around 13,000 addditional residents in rural communities within a 20 mile radius of the 5 screen theatre's community of 15000. I know thats not a lot of information, but based on this, should I attempt to get a loan, investors, financing, etc. and open a competing theatre in the town?? I have experience, excellent credit, familiar with customer base, I'm not tied down to my current job and would love to manage Full-Time to save on my own costs (I can live off 20-25k a year) and build capital, pay off loans and investors. SHOULD I GO FOR IT? Would you build or lease? How many screens? Arcade? Etc. etc. I did this on my Iphone so sorry It's not puncuated well. THANKS!

Answer
How long ago was last you saw the books? You need to have current info. You need to do a business plan before approaching anyone for financing. think about the movie theatre industry and how it is being affected by video purchase and rental and online movie viewing and whatever else that may come along. Think about ways you can change theatre movie viewing to keeep up with the changing times. I see movie theartre going by the wayside unless people start thinking outside the box and come up wiht ingenious new ideas to keep the people coming in.

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Title Post: Should I pull the trigger on this situation?
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