Initial Steps
To start a theatre company, develop the mission statement. Form into a legal entity. Register for taxes. Open a bank account and get a credit card. Set up accounting. Get necessary permits and licenses. Present a business plan to get funding. Find and renovate a performance space. Buy equipment and hire staff. Establish an online presence and market shows. Join relevant organisations for support. Consider accessibility laws.
Before opening, envision how your space functions and who it serves. Begin by asking artists what they need. How will the theatre serve artists and audience members? Artistic input is invaluable, since so much of what occurs in the theatre depends on workspace. This input will help with your design and planning, and help you create a space for several different art forms and art workers. Aside from the artists and staff, the theatre should also be an inviting space for an audience.
Research different stage layouts like end stages without curtains and arena stages with temporary risers. Outdoor theatres make use of natural light. Site specific theatres use found spaces.
Revenue Streams
Whether you turn into a profit or non-profit theater company, your next viable step is to decide how you can actually rake in the money. Do you rely on grants, on membership fees, on merchandise sales and auctions? Do you give out workshops like acting, directing, or stage production to put money in the pot, while at the same time discovering new talent?