You will derive immense enjoyment from screening your films for yourself and for your friends. You can easily stop at this point and enjoy your collection on a portable screen. Some collectors screen their films in their living rooms or garages.
Some collectors construct screening rooms or adapt existing living spaces into screening rooms.
In this case, separation of the projection equipment from the audience is a must, as even the quietest projector can be a distraction, so you may want to build or adapt a room to become a projection booth. A height difference of 3 to 4 feet will serve nicely. In the old days, there was a projection port and a viewing port for each projector. In today's megaplexes a single large port often serves both purposes. The most important element is the port glass.