Music Business Plan

Creating a Successful Business Plan (for the Artist)
The following document was created strictly for those interested in understanding
the different aspects of a business plan. There are several models for creating
business plans and as such, this is only one possible model. Make sure that you
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.

What is a Business Plan?
The business plan outlines your professional goals, how you will achieve those
goals and the resources that you have and need to get in order to achieve those
goals. It is basically the story of your career and yourbusiness. The business
plan takes you from the “idea stage” to the “action stage.”

Why Write a Business Plan?
At the very basic level (and perhaps the most important level), the business plan
will allow you to focus your thinking, set a realistic plan with realistic goals, and
get you moving forward with your career. Additionally, the business plan can be
used to bring in key players whom youwould like to have as a part of your team.
These key players might include prospective managers, agents, labels. The
business plan shows these people that you have thought about your career,
planned how you want to achieve your goals and treat your career seriously.
Finally, the business plans are often used to obtain financing from investors,
banks, venture capitalists, government, etc. Thebusiness plan might be
included in applications for FACTOR or SRIA’s new funding programs.

Preparation for Writing the Business Plan:
Consider the reader and objectives
Research all elements of the business plan
Write the business plan yourself
Develop an outline of key sections
Use realistic financial projections
Gain feedback

1. Executive Summary
Although at the beginning of youractual business plan, the Executive Summary
is always written last!
It is normally 10% in size of your business plan or one page
It should, at the very least, introduce the band, describe the project briefly, make
the request, overview the goals, and provide a synopsis of the marketing plan.

2. Introduction
Briefly introduce the band/artist – it should be a mini bio
Briefly introduce theproject if this business plan is being submitted for a specific
project
In some instances, this area is also used to make the request and state why you
are making the request (see first two points)

3. Mission Statement
What do you offer to your audience? What is the essence of why you exist?
Basically, who, what and why?
This is normally a single statement (or short series of statements)that would
explain the essence of your existence as a band/artist.

4. Vision Statement
What is the ultimate end goal that you are working towards? This should always
be a goal that you can work towards.
This is normally a single statement as well.

5. Music Industry Overview
This is really only necessary when you are seeking outside funding or investment
with a party who may have no orvery little knowledge of the music industry.
If you wish to include something like this for a person in the music industry, it
should be brief and just establish that you have researched the industry.
Suggested format: Paragraphs

6. Band/Artist Bio, History, and Functions
You should be including a more detailed bio of the band and, if not present within
the bio itself, a history of theband.
This history and bio should be professional and read like a resume. It’s not
necessary to have every date/event in the band’s history in this area – just the
key points. If you want to give a really detailed history (make sure that there is
good reason and you have been around for a long time), include it in the
Appendices.
If you want to introduce the individual players within a band,...