Business Overview

This is a once-in-a-lifetime opportunity to own a beloved piece of Maine, movies, and theatre history with a loyal, passionate following. An iconic theatre with 3 screens, including one with the classic original stage to offer live entertainment possibilities and carry on 109 years of popular culture tradition in the heart of thriving Mid-Coast Maine.

Located in the center of Belfast’s Historic District at the head of Penobscot Bay. This progressive coastal city of 6700 boats a rich collection of well-preserved architecture, both commercial and residential, dating back through the 19th century. The Colonial Theatre is listed on the National Register of Historic Places, providing its next owner the opportunity to maintain the theatre’s historic legacy as well as its place as a significant community hub.

The theatre has a small city retro feel that welcomes the modern movie goers who come again and again, playing their role in this living example of America’s original downtown movie palaces where the “Show Starts on the Sidewalk.”

This successful business has been profitable year after year not only due to offering a unique movie going experience, but also because there is no competition with other cinemas within many miles of Belfast.? While the theatre has been temporarily on hiatus due to the pandemic, it is poised to spring back with significant pent-up demand when the theatre reopens and the movie industry surges.

Centrally located in the heart downtown Belfast, close to restaurants, shopping, services, and the working waterfront, this community institution is a prominent part of a walkable city. This historic Art Deco 3-screen theatre was built in 1912 and rebuilt in 1924 after a fire. The property has been carefully maintained, expanded and modernized with full digital projection. Sale includes business, real estate, equipment, assets and inventory.

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Real Estate is Listed with:
Worth Real Estate
118 High St, Belfast, ME 04915
207-338-5265

Listing Details

Price: $1,300,000

Down Payment: $0

Sellers Discretionary Earnings: $50,000

Total Sales: $384,000

Location: Belfast, ME

Inventory: tbd

FF&E: $0

Employees: 14 part-time plus manager

Year Established: In operation since 1912.

Reason for Selling: Retirement

Category: Theater

Financial

  • Asking Price: $1,300,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: N/A
Purpose For Selling:

retiring

Why is the Current Owner Selling The Business?

There are all types of reasons why people choose to sell companies. Nonetheless, the real reason and the one they say to you may be 2 absolutely different things. As an example, they may say "I have way too many various responsibilities" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these might simply be excuses to try to hide the reality of changing demographics, increased competition, recent decrease in revenues, or an array of other reasons. This is why it is very essential that you not depend absolutely on a seller's word, yet instead, utilize the seller's response along with your overall due diligence. This will repaint a more sensible image of the business's current situation.

Existing Debts and Future Obligations

If the current entity is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous operating businesses take out loans in order to cover things like inventory, payroll, accounts payable, so on and so forth. Keep in mind that occasionally this can indicate that profit margins are too tight. Numerous organisations come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with suppliers that should be met or may cause penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the location draw in brand-new customers? Many times, operating businesses have repeat customers, which create the core of their daily revenues. Particular aspects such as new competitors growing up around the area, road building, and personnel turn over can impact repeat clients and also adversely influence future earnings. One crucial thing to take into consideration is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Certainly, the more people that see the business on a regular basis, the greater the possibility to construct a returning consumer base. A final idea is the basic area demographics. Is the business located in a densely inhabited city, or is it located on the outskirts of town? Exactly how might the neighborhood typical family income effect future revenue potential?