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*** SOLD ***
Oamaru Movie World
Listing: #13004
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About this Business for sale in Waitaki
Oamaru Movie WorldWANTED: a motivated owner/operator to take this going concern into the exciting digital future of cinema. All assets, goodwill & intellectual property (including long term lease) are included. A DIGITAL FUTURE The movie industry is on the verge of the biggest change since the introduction of sound. Digital cinema brings significant enhancements to viewers but for the cinema owner the financial benefits are just as significant: - Significant operational savings are achievable. - Digital 3D attracts premium prices. ISN'T DIGITAL EXPENSIVE? The cost of conversion is significant but the benefits to the entire industry are enormous. The major studios have recognised this some years ago and initiated a scheme known as the VPF (Virtual Print Fee) to financially assist cinemas to convert (and are finalising a conversion scheme with the New Zealand Motion Picture Exhibiters Association to the benefit of cinema owners). A VPF scheme for NZ Independent cinemas is currently under negotiation. WHY SELL? The current absentee owners are passionate about the future of the business but believe it would be better owned by new owner/operators working in the business. The decisions to be made regarding digital conversion are better to be made by the business’ future owner/s, not the current owners. The current owners are withdrawing from the business to concentrate on their primary businesses, & in the case of one, for health reasons. BUSINESS BACKGROUND Oamaru Movie World 3 is the only movie theatre serving the population of Oamaru. The business operates 3 theatres (150, 115, 53 seat) screening main-stream movie titles plus 1 small theatre (14 seat) screening art-house titles. During holiday periods the business operates seven days a week; outside of holidays the business is currently closed on Mondays. There exists an opportunity to expand the opening hours to include mornings (weekday & weekend) plus Mondays during non-holiday periods, & promotion of group package bookings. The theatre foyer houses the shop which serves a good selection of movie going food. In addition a small fully licensed bar is also offered including food for bar patrons. The owners feel there is an opportunity to diversify the business into the cafe market - its location & commercial kitchen would allow an experienced operator to convert the building foyer into a quality cafe currently lacking in the area. A small flat is included in the building which may be suitable for short term accommodation for a relocating owner or as office space for a co-located business. The business is currently being operated on an absentee owner basis, with employees performing all aspects of the day-to-day operations of the business. The business is highly systemised including documented procedures & check lists. Previous experience is not a prerequisite – any organized self motivated person can successfully operate the business. Training & assistance is available to a new owner. ASSETS The business assets comprise the theatre, foyer, shop and kitchen plant & equipment; all projection, sound & lighting equipment; security alarm & video surveillance gear; website; email lists. Shop & projection stores inventory would be sold at cost valuation. A comprehensive asset list is available on application. INTELLECTUAL PROPERTY In addition to exclusive access to the industry digital conversion assistance package, intellectual property offered for sale comprises all branding (name, logo, domain name); building lease (including right of renewal); phone numbers; staff training & procedure documentation. INTERESTED? Only genuine enquiries please. You are required to sign a confidentiality agreement and demonstrate an ability to purchase the business before detailed information will be released. Please contact: Brian Pankhurst NZ Business Sales Ltd Mob 021 334 865 brianp@linkbusiness.co.nz
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This listing is no longer taking enquiries as it is SOLD
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.