The Business of Leisure

Richmond knows how to have fun. We’re so good at doing it, in fact, that we are defying the pundits’ declaration that the leisure economy is dying. People might not be flying off for that vacation down in Mexico, but they are staying home and spending their money locally. If you are looking for good news about the economy, you don’t have to look too far. In fact, you only have to look to Friday nights and Saturday afternoons.

Movie theater owners, for example, are probably scratching their heads wondering ‘what recession?’ while everyone around them complains of declining revenue. According to Joe Masher, COO of Bowtie Entertainment that owns Movieland at Boulevard Square, national box office revenues are 12 percent higher this year compared to last. Movieland itself has exceeded company’s expectations, even though the theater only opened in February.

“Moviegoing is still one of the most affordable forms of entertainment,” says Masher. “Given that, and the quality of the movies that are out this year, it is proven to be a good industry.”

There are also plenty of ways to have fun outdoors—and people are still willing to pay to do it. Frank Adams, superintendent at Glenwood Golf Course, says, “People are staying closer to home and looking for a bargain when they spend their money. They can spend a day enjoying a round of golf without spending a couple of hundred dollars.”

Families may be reigning in their spending, but they aren’t necessarily eliminating leisure activities all together.

One approach to keep customers coming in the door is to come up with innovative ways to attract attention. Glenwood Golf Course, for example, offers free golf to anyone of high school age and anyone, no matter how old they are, can play a free round on their birthday. “Getting young people interested in golf is key to the future of the sport. It’s a wonderful thing to see a bunch of young people out there on the greens swinging away,” says Adams.

Of course, free movies will always get people’s attention and Movieland has done just that. They show free kids movies on Tuesday and Wednesday mornings, as well as offer lower priced tickets on Tuesdays for all ages.

This movie theater has also gone where few theaters have gone before by combining entertainment with an educational experience and free stuff thrown in for good measure. They recently partnered with the environmentally minded grocery store Whole Foods for their premiere of the documentary “Food, Inc”. The film was followed by a panel discussion and everyone in the audience went home with a Whole Foods goodie bag.

One unexpected side benefit to places of leisure doing well is that all the ancillary sources of revenue also see an increase. Masher says his team was surprised by how well the concession stands have done since the theater opened. “For hot food, for example, we had an automated machine in the back but demand was so overwhelming we had to rip it out and invest in a professional kitchen.”

If people are still buying huge buckets of popcorn then surely the economy isn’t as bad as everyone says it is.