2 screen first run open for business cinemas 100% turn key FOR SALE..not a LEASE, perfect for owner operator!

posted by movietheatres on September 2, 2010 at 7:36 am

Hello,

I own and operate a two screen theater in Central Illinois in a city of about 6000, and it draws from all the surrounding cities and towns and people from over 60 miles away. I’m not listing the name and address of the theater because I don’t want the customers to get wind of a possible sale and become concerned. Built originally in 1922, the main house has and is renowned for its first rate soundsystem. I installed new seats in the end of 2008 and due to all of the space also gave it huge aisles with 5 foot legroom so its also now well received for being the most comfortable theater in the area too. The theater also just set an all time single week record gross on “Twilight: Eclipse”.

The main house also features a rebuilt balcony, and a recently extended stage. We’ve begun hosting our local live theater group, community talent shows, school recitals, chamber of commerce events and such due to this so its not just a movie theater…and these additional events means some good additional cash with the concession sales for those events. A new roof is in place, with still at least a couple years left on its warranty. The buildings were also insulated in the last two years, resulting in a nearly 50% reduction in the power/heating bills as well. It has been redecorated as well, with new paint, dramatic lighting, a brilliant classic marquee, and even some newer work done in the restrooms. New furnaces have been installed in the last 10 years, and the air conditioning system works with an artesian well vs conventional compressors and high electric bills, so running your air conditioning is also not an expensive proposition. It could surely use some more tlc, but being such a historic structure and a truly unique theater experience, most prefer the place as it is vs making many huge noticeable changes.

As I mentioned, the sound system is renowned in the region, and the rest of the projection equipment is good quality and in good repair. We just installed a new bulb in the main house, which was the first time in nearly 3 years of continuous use so equipment maintenance is next to nothing.

The added beauty of this theater is that while it is 2 screens, the main house was not sliced up to make the second house due to the reasonable property prices out here. Therefore the second house is a second building just down from the main house, and is a simple small clean comfortable pushover house so that when you open for example “Toy Story 3” and “Eclipse” is coming right behind it, you don’t have to pass on the big films, and you still retain a great number of seats in the main house. The second house as well has new seats, a fully rebuilt bathroom, new popper, and was also sided and insulated in the last two years which has drastically cut down on the heating/power bills. I like this setup personally because that way if you have a special event taking place at the main theater, you can still run your movies uninterrupted at the second location. And if there’s only going to be one film coming out that you think you need to play, then just play the one at either place based on the crowd you’re expecting.

Concession sales are EXCELLENT at this theater! The average concession percap for the nation is about $2.04…the average concession percap at this theater is about $3.50, and not because the prices are very high (a large popcorn with refills is $4.75), its just that your customers here like to eat their popcorn, candy, and nachos.

There are also great opportunities for special shows with many local schools and churches, and sponsorships have been done with the local hospital and other businesses to present Free Kids film series too.

This theater would be best suited in my opinion for an owner/operator situation. If you’re willing to run the theater then you will make a lot more money than not due to a number of things you won’t necessarily need to have, like workmans compensation insurance, payroll taxes, etc. You’re also lucky as being in this small city there is very little oversight and regulation. You don’t need a permit to do this or permission to paint your buildings etc. It’s a nice simple operation.

Everyone’s thought : If it’s so great then why are you selling it and not keeping it? Simply because I’ve opened another theater about 3 or so hours from here and wish to move up near that one and pursue other options in the future/ I just don’t personally have the time anymore to be down there myself most of the time. We have some really great staff, all of which is making minimum wage so keep them or not, but they’d be very helpful to anyone to help out, even on a very part time basis.

We also use a very reasonable film buyer who does a great job and fights to get the movies for you. You don’t “have” to use a film buyer or him, but the studios will play games with you if you don’t have someone handling that on your behalf.

So this 100% turnkey theater, including all equipment (all of which is owned, nothing is owed on any of it), including the two buildings and their land (which includes some parking) is for sale for $179,000. All serious and reasonable offers will be considered, and I will include a month of training time with the sale, your option there. But think about that price and compare it…there are some theaters for sale for near the same price, but they’re either closed, single screens only, or lease sales where you might buy the equipment in the building but then you’ve got a big lease payment and terms there too. For this price, why waste the money on a lease? Own your buildings and property!

If seriously interested, please and include your name, any questions, and a phone number and best time where I can call you to discuss.

Thanks very much and hope to hear from you soon!