BC: In 5-10 years, we plan to make Palace Cinema the new local hot spot for New Hyde Park's entertainment needs. | Thank You!
FC: Palace Cinema | 1350 Union Turnpike, New Hyde Park, NY 11040
1: 1350 Union Turnpike, New Hyde Park, NY 11040 | We are located at 1350 Union Turnpike in New Hyde Park. About 4 miles from any other entertainment theater.
2: Palace Cinema is a great place for family and friends to enjoy their time together.
3: This business will provide a place for people of all ages to spend time after school, work or on the weekends. Palace Cinema will be a profitable business that will help bring local jobs to the community of New Hyde Park. It will benefit citizen's in an economical and recreational way. Residents of New Hyde Park will be able to enjoy the latest movies without traveling far from home.
4: We chose a larger building to maximize theater space, sacrificing the amount of money we could have saved. Applying for loans helped pay for theater seating, but also required high monthly payments. We decided not to serve any hot food except popcorn. This saves money because we are not required to buy more machinery, yet we do not provide as many refreshment choices as customers may have liked.
5: Palace Cinema will hire a total of 15 staff members. 6 custodial staff members, 2 cashiers in ticket sales, 3 cashiers in refreshments sales, and 4 skilled operators for the movie equipment.
6: To increase the demand for our services, we plan to host midnight premiers of all upcoming blockbusters. These events will take place in all four theaters to maximize profit and minimize the chance of having to turn away customers because we are sold out.
7: We will advertise our incredibly low prices. Matinées will be 5 dollars instead of our original 8, and every Wednesday all showings will be only 4 dollars. We will increase our consumer ratings because few theaters can offer the prices we do.
9: Start-up Cost Theater Seating: $363,018.00 Popcorn Machine: $300.00 Soda Machine: $3,000.00 Cash Registers: $500.00 Projectors: $8,000.00 Monthly Cost Refreshments: $3,000.00 Rent: $25,000.00 After our initial $300,000.00, our start-up cost comes out to $74,818.00.