|Updated Popular Movie Theatre|
NCListing DetailsOffice ID: MOVIE1
Status: Closing Date Scheduled
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $550,000
Gross Revenue: $464,970
Cash Flow: $109,105
12 Month Forecast: $500,000
Forecasted Cash Flow: $117,204
Inventory Included: No
FF&E Included: Yes
Real Estate Included: No
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:Seller will participate in SBA financing.
Reason for Sale:Retirement and Relocation
Training:Seller will provide adequate transition support to new owner.
OperationsYear Established: 1935
Last Acquired: 2009
Form of Ownership: S Corp
Employees (full-time): 1
Employees (part-time): 11
Business Hours: M-Th 4:30-9 F 4:30-11 S 11:30-11:00 Sun 11:30-9:00
Business Description:The theatre was built in 1935 as a single screen cinema accommodating over 700 movie-goers. In the late 1970’s, the theatre underwent a major remodeling, including the conversion from a single screen to a two-screen venue. In1986 the theatre underwent another considerable remodeling, converting the balconies of the two cinemas into two addition screens - for a total of four screens. The four theatres now seat 155, 153, 102 and 97 movie goers. All four theatres have been converted to digital NEC with Dolby 5.1 surround. The balcony screens are poised for upgrade to tables Inventory ranges from $5,000 to $15,000 and is NOT included in the asking price. School Hours M-Th 4:30-9 F 4:30-11 Sat 11:30-11:00 Sun 11:30-9:00 Holiday Hours M-Th 11:30-9 F 11:30-11 Sat 11:30-11:00 Sun 11:30-9:00
Owner Qualifications:Two owners work a combined 40 hours per week (one full-time equivalent).
Competition:There is one, 10 screen first run theater within 10 minutes. This is the only second run theatre in the community.
Potential Growth:With an improving economy in this fast growing county, growing income levels and increasing property values this business is positioned for continued success. Some opportunities for additional growth include adding hot food and alcoholic beverages, offering private party rentals, hosting virtual corporate meetings, big screen gaming and dinner theater events. Buyer can also add services like Screen Vision which would add steady advertising revenue of approximately $500 per week.
LocationType of Location: Stand Alone
Monthly Rent: $3,000
Square Footage: 7852
Facilities:Real Estate is estimated to be worth $450,000. Real estate will be sold at actual bank appraised value.
Last Updated: Apr 12, 2017 / 4:58 PM
Financial Information Current as of: Feb 3, 2016 / 2:24 PM