Screw Loose Business

Business Idea of the Day: Band Manager

July 16th, 2007

Taken from “Adams Businesses You Can Start Almanac”

Startup cost: $500-$1000

Potential earnings: $15,000-$100,000

Typical fees: 10 to 25 percent of a gig

Advertising: Industry trades, local paper, direct mail, nightclubs, bulletin boards, musicians’ associations, Web site

Qualifications: An ear for what will sell, management and negotiation skills

Equipment needed: Computer, laser printer, cell phone

Home business potential: Yes

Staff required: no

Hidden costs: Band could fire you without notice; it’s a good idea to represent several

Lowdown:

You’re into the club scene; you know instinctively what’s hot and what’s not. You see a few up-and-coming bands that need representation (because truthfully, most musicians lack business skills). If you’ve got the ability to convince musicians that you can really sell them and make their jobs easier by handling all of the business details they’d probably rather not think about anyway, you can make a decent – and if you go national or garner a recording contract, maybe even a darn good – living. You’ll need to be well connected in the club scene, and if you are clued in on where to plug you band(s), you could successfully book them for regular gigs and earn a steady flow of income for yourself in the process. Of course, you need to really believe in your bands, because if you don’t you won’t be able to develop and promote them properly and it will show in your presentation. Good negotiation skills are a must.

Startup:

You’ll need some initial capital ($500-$1000) to help get your first band off the ground and to lay the groundwork for some publicity. The ability to negotiate good contracts is important not only to the band, but to you because you get roughly 10 to 25 percent of whatever the band makes. With percentages like that, you could make $15,000-$100,000 (depending on how many bands you represent and how popular they become).

Bottom Line Advice:

Expect to spend long hours on the phone trying to get bookings. At the start you’ll probably still have a day job, so expect you evenings and weekends to be tied up. Start out at small clubs and work your way to bigger ones as your band(s) get more confident.

Entry Filed under: Business Ideas, Blog Archive