His family then moved back to Tennessee settling in Knoxville while his brother Alex was the All-American place-kicker for the University of Tennessee. While Richie was in high school and college he was a top Olympic cyclist, triathlete and runner for many of the top cycling, triathlon and running teams brushing arms with such athletes as Greg LeMond and Lance Armstrong. While attending a collegiate track meet, Richie was approached by a modeling agent at a local mall and his career in the entertainment industry was launched. He worked in New York, Miami, and Chicago as a model and actor through college.
Artists and musicians must understand that music is a business and should run like one. Start by considering where you are currently in your music career and where you want to be. Give yourself a realistic time frame and work backwards, citing the steps and resources required to reach each milestone in your plan.
Take yourself seriously This is not a joking matter.
Before you dive in headfirst Creating a music business plan can be an overwhelming task if you allow it to be. Remember, the only way to eat an elephant is one spoonful at a time, so take a moment to breathe and gather your thoughts.
Taking personal and professional inventory If you have been in the music business for at least a year, you should have a basic idea how a music business operates. In fact, you are most likely implementing core business principles and practices at your current level. Now take it a step further by conducting a SWOT analysis.
A SWOT analysis is a simple assessment of your personal or professional Strengths, Weaknesses, Opportunities and Threats as they apply to your music business. Begin by taking a piece of paper and folding it into four equal squares. At the top of each square going clockwise, write each component of the SWOT analysis in its own square.
Then create a bulleted list of all the information regarding your business in the corresponding squares. Once completed, you will have the framework to create a formal business plan. Understand what should be included in your plan At a minimum, your plan should include the following: A Executive Summary - An overview of your company, including an executive summary, mission statement, goals and objectives and a brief artist history.
B Market Analysis - Here you will analyze the current music market, with special focus on your genre of music. Include opportunities, competitors, trends, market size and growth potential.
C Company Description - Describe who you are, what you offer and the audience your business serves. Are you an LLC, corporation or sole proprietorship? List the key team players, i.
AOL latest headlines, entertainment, sports, articles for business, health and world news. This plan for a record company is quite detailed. The company plans to produce artists on four separate record labels. These labels cover a broad spectrum of the music industry, from Jazz, to Contemporary Christian music, to Rock. Kiln Creek Bowling Center bowling entertainment center business plan executive summary. Kiln Creek Bowling Center is a start-up bowling alley and recreation center in Virginia.
List your sales, product pricing and positioning strategies, marketing channels, ecommerce and communication strategies, as well as distribution and promotion networks. F Products or Services - Explain the music related products and services your business is offering.
Are you selling physical CDs or only digital downloads? Are you offering merch for sale such as T-shirts, posters, download cards and stickers? Do you have your own website outside of your social network that also serves as an online store for your music and merch?
G Funding Request or Needs - How much money do you need to get your operation off the ground? How much will you need for operation costs such as fixed and non-fixed expenses?
Are you or your staff taking a salary? What are your costs for manufacturing, distribution and marketing? H Financial Projections - How will your music business make money? What are the current and future revenue streams of your business? Be as clear as possible, investors hate ambiguity.
I Appendix if needed - If you already have an existing music business, use this section to add documents such as: A business plan should evolve in sync with your business.Entertainment Business Plan. By. R. Khera. Partnerships with these companies will be dictated by the strength of company management, the quality of both their artist and product and the size of their marketing and promotion budget.
provides an impressive blend of entertainment and general business which will be instrumental in leading. The biggest mistake artists make when it comes to procuring finances for their music ventures is the lack of a business plan. Artists and musicians must understand that music is a business and should run like one.
AOL latest headlines, entertainment, sports, articles for business, health and world news. regardbouddhiste.com Cory Huff Business Plan for Artists Mission Statement [ALSO KNOWN AS YOUR UNIQUE SELLING PROPOSITION – WHAT MAKES YOU UNIQUE?] I help artists dispel the starving artist myth.
[examples I've seen from other artists: I paint people's dreams (Eleatta Diver). IWA Championship Wrestling wrestling entertainment business plan executive summary. IWA Championship Wrestling is a start-up pro wrestling organization.
Management Plan. 5.
Financial Plan. Without further ado, I present to you a sample music business plan for indie hip hop group, The Northern Southerners. Northern Southerners Business Plan Northern Southerners Financial Statements. It probably depends on the goals of the artist.