Ever been to the theatre to see a play? If you have before, chances are that you can attest to the fact that plays can sometimes help douse a serious atmosphere. All over the world there have been so may theatre plays by notable directors and theatre companies and these folks know that owning a theatre company isn’t a child play.
Owning a theatre company means that you would need to think of the type of audiences that are within the area you want to operate from, as well as the type of plays that may likely be performed there. Also owning a theatre company means that you what audiences in your area might want to see, as well.
It is important that you note that you have to have a background foundation in this regard to be able to run a theatre company. This is not to say that a person with no background can’t succeed. Therefore, whether you are arts inclined or not, you may want to consider the very useful and winning tips in this article. Now here we go….
Starting a Movie Theatre – Sample Business Plan Template
1. Run a Research Project
It is very vital that you undertake some research so that you can arrive at the best way to start your theatre business. You would need to see the number of theatres that exists, who owns them, how they are run, how much it costs to run one and what have you. You may look at garnering all these information from the internet.
2. Choose a Theatre Name
You need to have a list of possible names for your theatre business. Be sure to patent the name, as well as do all the necessary documentation at the corporate affairs office of the chamber of commerce office. Ensure that the name you choose is a very unique one that would be known exclusively to your theatre company.
3. Tinker with How to Run Your Business
You need to figure out how you want your business run. Do you want to collaborate with a partner? Or would you like to start this business form the scratch? This is a very vital to ask yourself in order to start on the right footing.
4. Register Your Business
This is one very important aspect of business especially if you are looking to deal with organizations aside from individuals. Therefore one good way to go about this is by going to the chamber of commerce office in your country. It may also be known as corporate affairs office, as is the case in some countries. There you would be required to fill out some forms with vital information about you and your business. Be sure to provide the right information. Then you can as well decide if you are registering it as a partnership business, a sole proprietorship, and all what not.
5. Pool Resources Together
It is also pertinent that at this stage you know where your start up resources would come from. You can use your personal savings, whilst on the other hand a loan might do the trick for you. However, you must note that if you are opting to get a loan, more often than not you may be required to provide collateral. There are also good will family and friends who may be willing to support you all the way. There are also angel investors that are all around scouting to see businesses to pump money into.
6. You May Apply For Grants
This step depends solely on whether you have registered this business as a non for profit type of business. If you have done so then you can apply for government grants, as well as private funders. This would so boost your project a great deal.
7. Rent a Space
You cannot be thinking to start a theatre company without first thinking to secure a space. Why is a space important? It is really important to get a space because you would need a space for rehearsals, performances, and other administrative work.
8. Acquire Equipment
Now that you have secured a space, the next thing to do would be to begin to furnish your theatre. You would need to purchase lighting, sound equipment, sets, furniture, and some fittings. If you do not have enough funding yet, then you may consider renting the equipment you need for the stage performances.
9. Hire People
No man is an island; and as such you cannot run your theatre business all by yourself. You would need the input of others like. You have to be sure that the people who would make up your team are people with same artistic goals like yours. It is also important that you hire people who have once done this kind of business so that they can bring in something tangible to the table.
10. Choose Plays That Fit Your Business goals as Well as Mission Statement
You do not have to perform just about any type of play because you run a theatre company. Be sure that plays you perform are in line with your mission statement and how you want to affect the society.
11. Advertise Your Theatre Plays
One of the reasons why you are in business is to make profit and as such you have got to push out the business through adequate awareness to all and sundry. One of the ways to do this in this modern age is to use the internet. Be active on the social media platforms and be sure to always talk about your theatre group and the plays to be performed. Also offer some free tickets on radio shows and television shows alike.
Now that you have seen the steps needed to start this business, be meticulous how you handle your casts and crews so that you do not lose them. Also be sure to reward hard work in them when you detect it.
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