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?
You mentioned there is no competition (movie theatres) within 30 miles. Great. Are there internet providers in your area? Guess what, theyre the competition. Unless theres a hot release like barbie or some jump scare film, expect only horny teens who cant even afford a bucket of popcorn or senior citizens bitching about how their senior discount shouldve included a small soft drink.