Do you want to start a profitable and interesting business? Are you motivated, creative and hard working? Do you have passion for movies or films? Then practice your marketing and management skills and learn how to open a movie theater. Discussed below are some of the tips that you can use to make sure that you are on the right path if you plan to open a movie house.
Decision Making Skill
If you want to be involved in this business, it is important to possess an excellent decision making skill since this will affect the performance of the company that you want to open. One of the decisions that you need to make is whether you will purchase a franchise or you will become an independent movie theater.
If you plan to buy a franchise, there is a great possibility that the theater will be popular to moviegoers. However, one of the disadvantages of this decision is that it is more expensive than opening an independent theater. On the other hand, if you plan to become an independent movie theater, you need to allot budget for your advertisements to attract moviegoers.
Business Models
Another factor to consider if you want to open a movie theater is to know the types of films to be shown. To make wise decisions, it is best to weigh the advantages and disadvantages of each type of film. For instance, showing independent films can give you more profits because these movies are less expensive to screen. However, because these movies are not that popular, you still need to allocate money for the advertisements.
Like independent films, second run movies are also profitable because these are previously shown at big and popular movie theaters. The cost of showing these films are also cheap because there are available DVD copies of second run movies. To attract moviegoers, it is best to offer low cost tickets and offer affordable alcoholic beverages and meals for viewers. Aside from independent and second run films, you can also show classic films.
Other Factors
Aside from business models, there are also other factors that you need to consider before opening a movie theater such as the source of business capital. If you do not have enough budgets to start this business, look for finance companies that offer funding capitals to small business owners. After obtaining a capital, search for a nice and strategic place where you can start the business. The location should be accessible to different forms of public and private transportation. Above all, do not forget to assess various advertising strategies to attract moviegoers to visit your theater.
