Know-How Exchange : Strategy

A few casual thoughts in no specific order.

First up, y'all need a state business license. Then you need a business plan and a marketing plan (these vital documents will help you solidify what you're going to do and how you're going to do it). These documents need to be seen as fluid, NOT fixed, so as to keep you on track, but also to offer you some degree of flexibility. You need to know where you're going an dhow you're going to get there but you've also got to be ready for minor detours when they pop up, and you've got to have the where with all to get back on the track if you see the detour taking you toward the cliff.

Then you'll need a rate card (what you'll charge for ad space), and an ad sales strategy. Remember, the purpose of marketing is to increase revenue: yours and that of your advertisers.

To sell ad space you'll need to show your advertisers how many people and how often a message that they are paying you for will be seen by your audience. You could also help them with the ads themselves (a second income stream), but beware that you might need to outsource some of this work (an expense).

You also need happy advertisers to tell other advertisers just what a fine job you did so that the first group can tell the second group to work with you. This is what's known as social proof and it sells like hot cakes.

To bring in other streams of income you might want to put the theatre to other uses too: business seminars, talks, small trade shows, art and craft shows: all to get folks through the door and to get folks renting the space.
Make sure you have all the right fire marshal occupancy permits in place and that you don't exceed your limits-no sense pissing off the local code people, eh? Not good for business.

I hope this helps.