#325 Cinemas, Drive Ins, Streaming Services, and So Much More! - with Vince Guzzo

Real Estate Investing for Cash Flow with Kevin Bupp

Vince Guzzo is a businessman, entrepreneur, and philanthropist,

Vince is a Canadian entrepreneur who currently serves as CEO of Guzzo Cinemas, Guzzo Construction inc., Guzzo Medical, and Guzzo Hospitality.

Vince received national attention in 2018 when he joined the cast of the CBC Television business reality shows Dragons' Den as one of the investors. Additionally, Vince’s group is the largest movie operator in Quebec, with 141 screens and 10 locations, and the third-largest in Canada.

Quotes:

“Movie theatres have been competing with some form of in-home entertainment for about 120 years. At the end of the day, content is king. What does that content cost you? What is your talent in storytelling?”

“The deals that I did do, whatever mistake I made, I managed to turn the mistake into a learning lesson and at the end of the day, I don’t regret the bad deals. It’s the ones I didn’t do that I regret.”

Highlights:

1:32- Vince talks about his background and how he landed in the cinema space

9:15- Vince talks about if a business owner or idea itself is more important

11:46- Vince shares how COVID has impacted the cinema business

14:47- Vince talks about design changes prompted by COVID

19:08- Vince shares if cinemas have a plan to get people comfortable and excited for theatres again

26:27- Vince talks about how malls are doing in Canada and how that impacts cinemas

33:00- Vince talks about how streaming services have impacted the cinema industry

44:28- Vince shares his most challenging deal and what he learned from it

Guest Website:

https://www.mrsunshine.com/

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