How To Organize A Show Or A Live Music Gathering – The Budget
Posted by Music Archive | Posted in Live Music Archive | Posted on 30-03-2009
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Three times in the final month I have been asked the question, “what do I need to do to organize a gig?” In reality, when this question is asked it could mean several things: How do I find a Club? How do I sort out the PA? How do I get an fans? And so on.
But there is a stage before all of this: the budget. I would suggest that the moment you start thinking about organizing an event you should write a budget. This budget spreadsheet informs you of most things that you will need to contemplate and will furthermore show you the risk, projected profit and the breakeven point. A sample spreadshhet is available to download from this address http://www.josaka.com/features/2005/Organize-A-Gig/Event-PandL.pdf
If the budget numbers do not look like they’re working perhaps the event is not the right thing to be running. If you do not like the level of risk, perhaps you aren’t cut out to be a promoter.
So the start point is a spreadsheet. This should include all costs and all incomes. The key headings for costs should include: performer cost, PA, lighting, Club hire, marketing, box office costs etc. The income is like ly to be largely ticket sales but do not forget the opportunity to add a sponsor to the event.
The spreadsheet will endorse you work out the breakeven point for the event i.e. how a lot of tickets you need to sell to cover all costs. Every sale beyond breakeven is of course profit (exluding any box office commision). The added bonus of creating an event spreadsheet is that endorses define all the key tasks to be performed.
The realisation of the forecasted numbers becoming actual figures suggests that all events have got the deal they were looking for or agreed to. The sample speadsheet furthermore illustrates that everybody else involved in the performance is largely earning a fixed cost and and so the only individual taking a financial risk is the promoter.
So if you are thinking of organizing a live event I coomed you to work on the numbers 1st. This will endorse ensure you deliver a amazing show and have control over the money.