Print Article I just got home from a wonderful Thanksgiving dinner with my mother, sister, brother, niece and nephew in Franklin Park, New Jersey. The roads were slick from an early snow shower that turned to freezing rain.
If you are looking to start a Record Label, in order to operate a SERIOUS Music Business, you will need a document that summarizes the operational and financial objectives of your business, and also one that contains the detailed plans and budgets showing how your objectives are to be realized!
In plain English, it is extremely important that you possess a well written business plan that shows not only you, but also potential funding sources that you have carefully thought out how you plan to operate in order to make your Music Business venture a SOLID SUCCESS!
There are two types of musicians. The one who spends his evenings writing songs, when he is not to tired from working all day at his real job and possibly even records an album or two.
This musician lives on the idea that one day, one of his songs that he pesters his facebook friends with, will all of a sudden magically go viral online, and he will end up on all the TV talk shows.
From there he will be signed to a label, and the business end of things will be handled by hundreds of people who will be ready to wait on him hand and foot. Then there's the serious musician who plans to go into the business of selling records, and intends to make a full time living out of it. This Music Entrepreneur realizes that he needs a Business Plan.
But not just any Business Plan, he needs a plan that is tailored toward the Music Industry as it is today. Have a look at some of the components included!
This section helps you define the general purpose of your music company, stating the main reasons it is in business, while it also serves as a reminder to the public and the employees within your company what you and the founders envision.
General business purposes are mentioned here. Yours could be to dominate the Music industry offline and online across the world by producing and promoting high quality entertainment products.
You can also add any additional goals for your music company such as becoming active in charitable activities, etc. This part summarizes the main highlights of your business plan, including what products and services you plan to provide.
Important facts such as projected sales and profits, the number of unit sales, profitability and the keys to your companies success are mentioned here. This section also allows you to highlight any important information that you would not want anyone including potential investors to overlook.
This component of your record label business plan identifies the individuals operating in key positions within your company, and what their duties and responsibilities will be.
In addition here is were that person's educational, business experience, and significant accomplishments will be highlighted which they will in turn bring to the table in order to contribute to the success of your music company.
This provides an overview of the music industry and recent changes, including mentions of digital music sales versus Compact Disc sales, single track downloads versus digital album sales, and other relevant up to date information that is important to be included in your music business plan.
This is an actual blueprint to work from or customize as it presents detailed marketing and promotional strategies from the initial release of music product, to subsequent releases. Some areas covered are promotion to Radio, television and video networks off-line and online with proper timelines and sequence in place, setting up interviews and public performances for the artist in support of the release, up to date strategies for creating demand online and off-line, and more.
This part includes a Projected Balance Sheet with yearly totals, Music Project Production cost sheet, Projected Statement of cash flow, Break Even profit analysis, Use of funds statement, and all other parts that make up a detailed financial plan for your company.are writing a business plan which best reflects you as an artist and your music.
Just a reminder: Your business is your music, your band and all of the promotion and marketing that you do for yourself so that you are successful in this industry.
LABEL MARKETING PLAN As with business plans, this marketing plan will evolve to show more detail and tools to bet-ter help you. At anytime you feel you have an outdated copy, please feel free to contact us.
As the week’s releasing music via the label. (Do not just shun people away because you do not like their music. Thank you for purchasing the Record Label Business Plan Template. This Template is designed in professional business plan format and includes components such as a MISSION STATEMENT, EXECUTIVE SUMMARY, COMPANY DESCRIPTION, INDUSTRY ANALYSIS.
The Record Company Music Label business plan startup and operating course, provides an extensive set of template, example and sample documents for starting and running a Record Company Music Label business and . Your business plan should set realistic goals, address any issues early on, and develop a clear path for the future of your record label.
A solid business plan is also essential when you come to secure loans or new investment in the future. Free Record Label Business Plan For Raising Capital from Investors, Banks, or Grant Companies!
Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below.