Our Business Plan

Working Towards a Business Plan That Makes Things Happen

Our business plan is an ongoing process and should be as there are many factors that can change as we progress to reclaiming Gaumont Palace. Our official business plan also has sensitive commercial information that can’t be made public but here is on overview of the plan:

  1. To work with Somerset Council to start a dialogue with Mecca Bingo to determine what Mecca’s intentions are regarding the future use of the building.
  2. To work with Somerset Council to start a dialogue with Arts Council England (ACE) to negotiate and prepare a Project Grant application for a feasibility study on retro fitting and returning Gaumont Palace as an entertainment venue*.
  3. To negotiate terms and business structure with Somerset Council so the best business model is created for a sustainable business and income for the council.
  4. To develop a fundraising strategy to match funds for future funding applications.
  5. To work with Somerset Council and Arts Council England (ACE) to prepare a Cultural Development Fund (CDF) application for costs associated with refitting stage, seating, lighting and other facilities within the building. This fund is between £3m-£5m.
  6. To work with The National Lottery Heritage Fund to obtain funds for Gaumont’s historic building status and to ensure heritage elements are preserved.
  7. To prepare a project plan for refitting of the venue with projected expenditure.
  8. To prepare a projected event programme and projected event attendances.
  9. To employ key staff for stage 1 (closure of building to allow refit).
  10. To employ staff for stage 2 (opening of venue).
  11. To launch and run venue for foreseeable future.

* These studies and reports we will be collating may include employment of specialist firms and may include, for example:

  • How it fits, complements, or impacts on other local providers
  • Structural and site surveys
  • Tenancy agreements/legal obligations
  • Climate/decarbonisation/flood risks
  • Site plans
  • Audience seating solutions
  • Staging, projection, lighting, technical
  • Heating/cooling/lighting
  • Café/bar/hospitality
  • Heritage statements and preservation
  • General refurbishment
  • Fire/H&S/Sanitation
  • Box office/front of house
  • HR/staffing
  • Finance and projections
  • Business planning
  • Long term financial planning/horizon scanning
  • Risk management