We are quite aware that starting a standard music production business from the scratch requires huge capital base especially for the purchase of world – class studio equipment (music production gadgets), which is why we have perfect plans for steady flow of cash from private investors who are interested in working with us. The Total Fee for incorporating the Business in Los Angeles, California – $750. A Sample Music Business Plan. It’s also worth noting that you will absolutely need a business plan if you seek to attract investors or loans. One good thing about starting a music production business is that even if you decided to start it in the United States of America, your market will not be restricted to artists in the U.S.; the world will be your target market. Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. Part of what the business consultant did was to work with the management of the company in conducting a SWOT analysis for Clarkson Magic Finger® Music Production Company. Thanks so much for sharing this. Really good post! In any creative business plan, you should have multiple revenue streams. Create a Music Website. Now that you have clarity around your goals, brand, and audience, it’s time to … Choose promising bands to promote. As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. 4. The fact that we are set to compete with other leading music production companies in the United States of America means that we must build a business structure that can support our business goal. We have made provision for a Yamaha monitor; it is simply one of the best we can get in the market. The opportunities in the music industry are massive and we are ready to take advantage of any opportunity that comes our way. Find something that works within your budget. This will save you from making unnecessary mistakes and error. Responsible for developing and managing financial systems and policies, Ensures compliance with taxation legislation, Handles all financial transactions for the company, Serves as internal auditor for the company, Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level, Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services, Manages administrative duties assigned by the manager in an effective and timely manner, Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. It is a fact that economic downturn affects purchasing / spending power. It’s basically like having a manual for success. We are set to take the music industry by storm which is why we have made provisions for effective publicity and advertisement of our music production company. Although we intend starting out in Los Angeles – California, but we plans to have active presence in major cities both in the East Coast and the West Coast; we will position our agents to in strategic cities in the United States to help us source for music production deals. As a result of this, Clarkson Magic Finger® Music Production Company will charge our old clients (artists) a flat fee and charge new clients (new music artists) hourly when they make use of our music studio to record their music or produce music beats for their albums. Are you about starting a music production business? 5.1.2 Corporates. Our sales and marketing team will be recruited based on their vast experience in the music industry and they will be trained on a regular basis, so as to be well equipped to meet their targets and the overall goal of the organization. Download Free Version (DOC format) Download the Start-Up Pack for $27. Clarkson Magic Finger® Music Production Company is a new player in the … There should be detailed financial breakdowns of your estimated income and expenses. Set yourself a very specific timetable and make yourself accountable to someone else, even if you are not seeking investors and just doing this for yourself. Although starting a music and production company requires moderate start – up capital, but it is indeed a very profitable venture to go into especially if you live in an urban area, where the demographic composition has enough young adults within the age range of 16 – 35 years. This Music Business Plan can serve as a starting point for your new business, or as you grow an existing enterprise. This is an outline of how you envision your recording career. The first two categories, Strengths and Weaknesses, are internal to your music and music business: they are things you can control. So I manage it all alone for now. View a Sample Film Business Plan Outline. Lay out an action plan. The more time you spend on the studio, the more money you would have to pay. It’s a bad idea to try to appeal to everyone. January 24, 2014. by Music Connection. Help decides the order the songs will play in throughout the album (i.e. Clarkson Magic Finger® Music Production Company is set to make use of the following marketing and sales strategies to attract clients; Clarkson Magic Finger® Music Production Company is established with the aim of maximizing profits in the music industry and we are going to go all the way to ensure that we do all it takes to attract music artists that will sign under our record label. To define your demographic, start by understanding who comes to your shows. Responsible for choosing top notch album cover for music artists. Offer Pro Bono services as part of our community social responsibility, Ensure that our we position our banners and billboards in strategic positions all around Los Angeles – CA, Brand all our official cars / buses and ensure that our trademark label is boldly printed in all our music album covers and CDs et al. Whether you are a band, artist manager, record label, or music store, if you can learn how to take the best advantage of both live and recorded revenue streams, you may be able to beat competitors at the music game. But where to begin? Defines job positions for recruitment and managing interviewing process, Carries out staff induction for new team members, Responsible for training, evaluation and assessment of employees, Responsible for arranging travel, meetings and appointments, Designs job descriptions with KPI to drive performance management for clients, Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes. Financial Plan. Another weakness is that we may not have the required cash to promote our business the way we would want to. Clarkson Magic Finger® Music Production Company will be owned majorly by Clarkson Dempsey and Bradley Jacksons. We are set to become the number one choice for both corporate clients and private students in the whole of Palm Beach – Florida which is why we have made provisions for effective publicity and advertisement of our music school. Your email address will not be published. First, you need to clarify your vision and craft a mission statement. There are multiple options out there for a business plan framework. Music Business Plan in Nigeria. This system should include a plan of operation for every aspect of your Music Business. So also, just like any other business, one of the major threats that we are likely going to face is economic downturn. What is the gender breakdown, age, and geographical location of your fans generally? The trend in the music production industry is that most music production companies are trying as much as possible to recreate themselves on a regular basis and also to be on top of their game. The Music production industry is indeed witnessing a steady growth over the years especially in developed countries such as the United States. Recent statistics from the IFPI revealed that overall global music production industry revenues dipped by just 0.4% last year – but that was enough to pull the annual tally down from $15.03bn to $14.97bn. I am also a musician i learnt a lot also having difficulties to break through into the industry why because i don’t have manager and publisher’s. target market, and the financial goals of the business. You can consider yourself a professional musician after creating your first … To cancel you must contact your Reseller. Writing a business plan for your music career. Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members. If your plan is designed to help you get a bank loan, include the information about the amount, type and purpose of the funds your are seeking. Ensures operation of studio equipment by completing preventive maintenance requirements; calling for repairs. Every major business has a business plan. If you’re doing a recording project, you should have a clear breakdown of all the costs involved in the recording, mixing, mastering, and replication processes. Recording Studio Business Plan. We know that if we implement our business strategies, we will grow our music business production business beyond Los Angeles – California to other states in the U.S in record time. 3. Statistics also has it that in 2013 the three largest markets in the music industry, measured by the revenue they generated were the United States of America, Japan and Germany. Then cables (nothing else but mogami cables. Use a SWOT analysis to focus your music marketing, Strategy and tactics in your music career, Improve your chances for a successful music career (without compromising your integrity), Finding the balance between creativity and business, To make money with music, make sure you’re easy to find, How to plan, perform, and rock your Zoom gigs, Setting (and achieving) your music career goals for 2021, Ninth chords add ambiance to your compositions, 10 posts to help you make more money with your music. They have appreciable year of experience working with some of the leading international music production companies in the United States of America prior to start their own music production company. We can confidently say that we have a robust financial standing and we are ready to take on any challenge that we encounter in the industry. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations. Provides historical reference by developing and utilizing filing and retrieval systems; recording meeting discussions; maintaining transcripts; documenting and maintaining evidence. Music production business is without a doubt a thriving business that has loads of players making huge profits from the industry. SWOT analysis. There’s a ton of resources online — including articles, courses, and software you can purchase — to help write a business plan. This section will likely require significant research. Writing a business plan requires research. Related Posts Our vision is to become one of the top 10 music production company in the United States of America. Use a SWOT analysis to focus your music marketing Writing a business plan helps you to see the things you need to achieve in the business you are intending to start and then make proper plans in achieving them. Main financial measures 2012 2013 2014 Cash 152,993 82,426 211,043 You should actually write this after you’ve finished the entire plan. One thing is certain, if a music production company can successfully produce a major hit song / album, it wouldn’t be too long before musicians and corporate organizations (for commercials and jingles) come calling from all over the united states and beyond. These set of people are ready to do anything to hit the lime light; and music is one of the avenues for them to make their millions and by extension become famous. It is important for computer to have a very large memory, high end graphic card, and 2.6 GHz quad core processor and we will search for a good software to work with. These are the areas we intend generating our start – up capital; N.B: We have been able to generate about $100,000 (Personal savings $60,000 and soft loan from family members $40,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. On the alternative, we can choose to go for purely digital and skip the mixer altogether. The most important suggestion: take it one step at a time! If YES, here’s a complete sample music production business plan template & feasibility report you can use for FREE to raise money. Identifies business opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of music projects. There is value in making long-term (10 year), medium-term (five year), and short-term (one year) business plans. We have also prepared a good budget for monitor; monitor is one of the most important gadgets we would need in starting our own record label and record studio. We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. Finding the balance between creativity and business Clarkson Magic Finger® Music Production Company is not just going engage in music production, but we will ensure that we play our part in marketing and promoting any musical album that we produced. Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Badoo, Google+ and other platforms (music online forums) to promote our business. This was presented by the Barbados Investment & … Avalon is perhaps our best bet and we can get it for about $2500 or less. Having a business plan will give you clarity, focus, and a sense of forward motion in your music career by identifying realistic, achievable, and action-based short-term goals. Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. Facilitates and coordinate strategic sessions. Break down your goals into smaller, more achievable goals. When you head on a cross-country drive from New York to California, you plan your route. For mixer, we will go with Euphonix or any other brand of our choice. Great mr thanks for your good handover, all the best. I thought I’d share those numbers with a little make-shift music business plan that I threw together and show you what you’re realistically looking at. Sign and record two new Heavy Metal bands in the first year. Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments. (For questions, call 1-866-345-7474.) Executive Summary. Will you have weekly or monthly check-ins with your business team for accountability? Of course, good music recording and production companies always play a part in making celebrities and super stars out of ordinary folks who are gifted with singing. You are going to need to demonstrate to investors (and yourself) how you will measure your progress. He designed album covers, book covers, rock posters, and also made high art that hangs in museums. Musicians who become famous when they are young often have to learn business acumen and skills as they go along, usually learning the price of ignorance by being ripped off. But Euphonix is great (especially with is sweet sounding preamp and on board compressors). We have been able to critically examine the music production market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. We have a team that can go all the way to give our clients value for their money; a team that can make produce world class musical sounds. Once you’ve decided that music is your business, you must set aside time to write out a solid business plan if you want to grow as a business, attract … It doesn’t matter if you have a track record, whether you tour, whether you are 16 or 60… Anyone who is willing to put in the work can accomplish this. The music business specifics you’ll want to address in this section are your web page, your social media plans, touring, radio promotion, press kit, what merchandise you’ll sell, what your logo will look like, etc. The plan can also be revised when needed if things change. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Los Angeles – CA. Having a business plan will give you clarity, focus, and a sense of forward motion in your music career by identifying realistic, achievable, and action-based short-term goals. This goes to show that any music production company that is known to always produce good music will continue to attract talented music artists and that will sure translate to increase in revenue generation for the business. We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with other players in the United States and throughout the globe. Intellectual Property Protection and Trademark: Opening of Corporate Bank Accounts various banks in the United States: Application and Obtaining Tax Payer’s ID: Application for business license and permit: Purchase of All form of Insurance for the Business: Generating part of the start – up capital from the founder: Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Purchase of the Needed studio / musical gadgets, furniture, office equipment, electronic appliances and facility facelift: Creating Official Website for the Company: Creating Awareness for the business (Business PR): Health and Safety and Fire Safety Arrangement: Establishing business relationship with key players in the industry. Our way new products serve as a starting point for your good handover, the. To everyone just like any other brand of our choice sweet sounding preamp and on board compressors.. Try to appeal to everyone maintaining transcripts ; documenting and maintaining evidence good. 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