Raconteur Theatre Company

Being the resident “business guy,” I look at After the Afterglow from a little bit of a different angle than the rest of the board. I don’t know how common it is in the theatre industry for an upstart, new theatre company to make money on its very first show, but Raconteur did it! Even after all expenses for the show were paid, including royalties, set, marketing (lots of marketing), paying for the use of the space, etc., etc., the company made nearly $1000 in net profit. We’re certainly not rolling in the dough, but that kind of money isn’t a pittance, either. Especially considering we were only charging $8 a ticket ($5 if you only saw one show).

Now, I’m not really a financial guy. I have an MBA in entrepreneurship, so I know the basics of an income statement (and the other important financial documents, like the balance statement and cash flow statement), but finance is really not my cup of tea - but I get strapped with it because I have an MBA. And I’m okay with that.

Now that I’ve gotten that off my chest, though, I want to tell you that the best part of Raconteur Theatre Company’s premier show - for me - was watching the results of all the business planning and preparation we did to prepare for the show. We did things that the big theatre companies in Columbus, Ohio (and elsewhere) do, but that the small, little, community-theatre upstarts (including those companies that members of our board previously worked with) in Columbus never have - and most likely still won’t, even after our proof of success with them.

We sent letters of introduction to all the other theatres in Columbus, Ohio that we had (or could find) contact information for. We submitted our audition notice to all of the papers we thought might carry it. We submitted show times, dates, prices, and show synopses. We wrote press releases about both the show, and “Raconteur - Columbus’s Newest Theatre,” - the company in general. This last bit is one that most theatre companies - especially in Columbus - fail at. Press releases are rarely done, in my opinion - perhaps because people don’t know how to write one, perhaps because people are too lazy to do it (or learn it) - but ours scored us a review in Columbus’s most-read alternative paper, The Other Paper. The reviewer came out to our opening night - Raconteur’s first show ever - and gave us a great review. Press releases also scored us a small blurb the following week in The Other Paper’s Arts section, as well as a mention in The Other Paper’s “Cheap and Free” section - information about what you can do over the weekend for free, or nearly so. We also had two online reviews. The only thing better would have been for the Dispatch to come out and review us, but alas it wasn’t to be. I guess we’ll have to settle for nearly sold out crowds every night and a HUGE profit for a small house and way-too-cheap ticket prices. Bummer. </saracasm> We also sold advertising (email ads [AT] raconteurtheatre [DOT] com) in our program, which is not uncommon, but helps the profit margin go up.

All of this is in addition to the fundraising we did at the inception of the company (and that we continue to do). We have so far raised more than $4000 in support from family, friends, and businesses. I’m not even counting any of that money in the profit of the show… that’s for future shows and planning and scheming and company growth and fabulous future shows!

Anyway, to cut it short - if it’s not already too late for that - what was very satisfying for me to learn was that starting a theatre is just like starting any other business. Our product is entertainment and art. So long as we continue to provide quality art and entertainment, Raconteur Theatre Company will be Columbus’s next, newest indie art success story!