Over the past 20+ years, we have helped over 1, 000 entrepreneurs and business owners create business plans to start and grow their movie theaters. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a movie theater business plan template step-by-step so you can create your plan today.
A business plan provides a snapshot of your movie theater as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Theater Business Plan - Movie Theater Business Plan Pdf title=Movie Theater Business Plan style=width:100%;text-align:center; onerror=this.onerror=null;this.src='https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSfdLZM1U8hzi0gUpismwJQQi69qvXS52dkSukOyxDk85goOpl--vn2sWKsDyUsxOi8DHs&usqp=CAU'; />
If you’re looking to start a movie theater, or grow your existing theater, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your movie theater in order to improve your chances of success. Your movie theater business plan is a living document that should be updated annually as your company grows and changes.
Creating A Post Covid Business Plan
With regards to funding, the main sources of funding for a movie theater are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings is the other most common form of funding for a movie theater. Personal savings and bank loans are the most common funding paths for movie theaters.
If you want to start a theater or expand your current one, you need a business plan. In the following movie theater business plan template, we detail what you should include in your own business plan.
Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.
Movie Theater Restaurant Business Plan
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of movie theater facility you are operating and the status. For example, are you a startup, do you have a movie theater that you would like to grow, or are you operating a chain of movie theaters?
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the movie theater industry. Discuss the type of movie theater you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
In addition to explaining the type of movie theater you will operate, the Company Analysis section of your business plan needs to provide background on the business.
U.s.: Movie Theaters' Revenue By Source 2010 2021
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following are examples of customer segments: families, university students, young professionals, budget-conscious moviegoers, and people with a higher education or interest in art.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of business you operate. Clearly, families would respond to different marketing promotions than young professionals or university students, for example.
Free Sample Business Plan Templates For Entrepreneurs And Small Businesses
Try to break out your target market in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most movie theaters primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.
Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes online streaming services and video rental retailers. You need to mention such competition as well.
Film Business Plan Template
With regards to direct competition, you want to describe the other movie theaters with which you compete. Most likely, your direct competitors will be movie theaters located very close to your location.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.
Movie Theater Business Plan Template & How To Guide [updated 2023]
Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a movie theater business plan, your marketing plan should include the following:
Product: In the product section, you should reiterate the type of movie theater company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to screening films, will you provide concessions, alcoholic beverages (where legal) or arcade games?
Price: Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.
Likelihood Of Buying Concessions At Movie Theaters In The U.s. 2018
Place: Place refers to the location of your movie theater company. Document your location and mention how the location will impact your success. For example, is your movie theatre business located in a busy retail district, shopping plaza, mall, etc. Discuss how your location might be the ideal location for your customers.
Promotions: The final part of your movie theater marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
U.s.: Average Cost Of A Movie Ticket 2021
Everyday short-term processes include all of the tasks involved in running your theater, including selling tickets, taking tickets, cleaning theaters, operating film screenings.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to sell your 100, 000th ticket, or when you hope to reach $X in revenue. It could also be when you expect to expand your movie theater company to a new city.
To demonstrate your movie theater’s ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.
Free, Printable And Customizable Movie Ticket Templates
Ideally you and/or your team members have direct experience in managing movie theaters. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing theaters or successfully running small businesses.
Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.
Movie Theater Business Plan
Income Statement: an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you sell 3, 000 tickets per day or per month? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
Balance Sheets: Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50, 000 on building out your movie theater, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50, 000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Sample Film Production Plan In Pdf
Cash Flow Statement: Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money
0 comments
Post a Comment