Type up a business plan for your theater company. Include the name and a mission statement describing what kind of performances in which you will specialize. Describe the structure and organization of the company, including whether one person will be in charge or every member will have a hand in productions. If you anticipate that every show will follow a certain theme or aesthetic, include that in your plan as well.
Register with your local government as a new business. Place an ad in your local paper announcing the opening of your theater company.
Open a bank account for the company to use for props, costumes, stage rent and other production costs. Order a checkbook and a debit card strictly for production use.
Sign up with service organizations, preferably affiliations of theater groups. Also consider signing up with business associations that do social work in the community. Network with the other members of these groups and keep a roster of their names and contact information.
Develop a script or purchase a script from a playwright or script company. Set the date you would like to open your first show, and work backwards to determine how you will prepare for a show in that amount of time.
Go location scouting for a venue that can accommodate the kind of show you want to do. Sign a contract with the venue owner for use of the stage for rehearsals and show nights.
Place an ad in the paper looking for cast and crew for the production.