These two theaters are both in the type of town that is relatively small compared to most metros, but are somewhat large compared to all the surrounding towns. Two movie theaters, including real estate for sale. There was a line around the block to buy them before COVID, which obviously sank that. But now it seems like there is a good amount returning to the theaters. I am going to be getting more details in the next week under an NDA, and have my accountant go over the books. Supposedly net cashflow is in the 400-600k range. Price is 4mill, a large part of which will just be taking over an existing loan.
Opinions, does anyone think going into this industry in this day and age is just too risky given to combination of coming out of the Covid era plus fact that we are now in the era of streaming?
We have a 3 screen small movie theater in our town. I have been there 2 times in the past 4 years.
They seem to do ok. They serve craft beers and cocktails, and have a restaurant/bar off to the side.
Ever since Covid …. Our family as a whole does not have much interest in sitting in a theater.
Thanks for the feedback.