Plan B - Alternative Location Strategy

Overview

If initial funding for the current building proves unattainable, MediaMint will pivot to use this proposal to negotiate with local government officials, such as mayors, in other jurisdictions. The goal will be to take over a building in their area under similar terms, offering MediaMint as a cost-effective alternative to Hollywood, thereby attracting media production to their community. This alternative location will also be situated in an Opportunity Zone, ensuring the same tax advantages.

Proposal

• Identify Suitable Locations: Work with local governments to identify potential buildings that can be converted into a media production hub.
• Negotiate Terms: Propose a partnership where the local government provides incentives or support to facilitate the building takeover and renovation.

Benefits

• Cost-effective Alternative: Address the high costs of Hollywood, making media production more accessible.
• Economic Development: Attract media production to new locations, creating jobs and boosting the local economy.
• Tax Advantages: Benefit from Opportunity Zone tax incentives, which may include deferral of capital gains taxes and potential reductions in tax liability on long-term investments.

Implementation Timeline

• Research and Outreach: Identify and reach out to potential locations and local government officials.
• Negotiation and Agreement: Negotiate terms and reach an agreement with the local government.
• Renovation and Launch: Begin renovations and launch MediaMint in the new location.

Financial Projections

• Initial Costs:
  • Renovations: $100,000 (negotiable based on local government support)
  • Total: $100,000
• Revenue Streams:
  • Lease Income: Renting production spaces at competitive rates.
  • Equipment Rental: Offering professional-grade media equipment.
  • Membership Fees: Providing access to the media hub's facilities.
• Projected Annual Revenue: $150,000
• Projected Annual Expenses: $80,000
• Net Annual Profit: $70,000