Music Theater Business Plan
Market Plaza Showplace
Strategy and Implementation Summary
The Showplace will focus on the general population of the community and surrounding region, and large businesses in the DFW area. Location of the theater facility affords the strongest initial sales factor, then the quality and service of our operation will build strong loyalty and repeat customers. Our productions must live up to our message.
The Family Fair marketing team will initially blitz the community and region with announcements of the grand opening via radio, TV news, newspapers, local publications, solicitation, direct mail, personal calls, email, and fax. We will reach the majority of the area population who will eagerly spread the word.
The theater owns a huge sign that is strategically located at one of the busiest intersections in Trinity. The grand opening announcement will begin on the theater marquee approximately one month before opening.
5.1 Competitive Edge
The main competitor is 35 miles from the community and is sold out regularly. The route is in heavy traffic and parking is sometimes a problem. Therefore, fans of this type of entertainment in our community are expected to choose our venue because we offer more interesting entertainment, we are closer to home, have ample, secure parking, and ticket pricing is the same.
5.2 Sales Strategy
Consistent sales in the live entertainment business depends on quality entertainment at a reasonable price, along with efficient and friendly service. Showplace entertainers and staff will be required to extend exceptional courtesy to customers prior to, during and after each presentation.
The operation must always be sure to provide enjoyable, exciting and quality entertainment as well as excellence and courtesy in performing our ticketing and concession services. Special personal attention will be extended to our customers at all times. Quality entertainment and friendly service will greatly enhance loyalty to the venue.
5.2.1 Sales Forecast
Family Fair senior management prefers to use a conservative sales figure of 700 seats of 750 available per regular production in the first year. Consultants predict a sell-out for each show, beginning in the first month of operation, due to the prime location of the Showplace facility and the small percentage of the population required to produce a sell-out. Also, severe weather is not a major problem in this region and was discounted as a deterrent to attendance. The proximity of the venue to potential customers in the densely populated community is a powerful influence. However, to be conservative, we are projecting sales of 700 seats per show for the first year of the available 750 seats.
5.3 Milestones
The accompanying table lists important project milestones, with dates and managers in charge, and budgets for each. The milestone schedule indicates our emphasis on planning for implementation.
What the table doesn't show is the commitment behind it and the ability of the executive team to make the project a complete success. Our business plan includes complete provisions for plan-vs.-actual analysis, and the executive staff will meet regularly to discuss the variance and course corrections.
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