Ideas For Opening A New Music Venue And Managing It Like A Pro
If you are planning to open a music venue, it is a good venture considering that it is also a chance to find the bands that have a chance to shine in future. All that is needed is one act to say they got their start in your venue and this will certainly make the place legendary such as CBGBs or The Stone Pony. However, it is not all roses since music venues are closing in major cities including London. Read on and find out how to open up a successful music venue.
It is possible that one has an idea or a dream of a place where one can listen to killer music, but they lack ideas on how to open a music venue. The primary step is to have a plan put down on paper as this will ensure that you can secure financing for your business. Determine the startup and daily operational costs as well as the revenue projections for the first five years.
One will be thinking about their competition when coming up with the business plan and it is possible that you are only thinking about other places only. One will not only face competition from the venues, but you will also be up against other forms of entertainment such as Netflix and social media apps. There are individuals who choose to stay at home and stream whatever they need to watch and it is also likely that an individual will be recording musicians at the venue and share on FaceBook. When planning the marketing method to use, determine how and also explain why one should come to your music venue instead of staying and streaming on Netflix.
Finding the location of the music venue is important, and one should find an area that has a lot of room for growth to enjoy best prices. It is advisable that you purchase the property outright and this means that one can make money from reselling the property should the music business fall.
The club also needs an identity, and this will mean what people think about the business. Depending on your identity, ensure that you focus on just that when marketing the club.
When one has learnt the identity for the club, there is a need to hire music bands that will suit the clubs identity. When hiring a band, explain the expectations for the band and also address matters such as music equipment, sound management an whether you will provide food and drinks. Read more about how to book bands for your venue.
You do not have a music venue if you do not have an audience, but you will only get audience for your venue when you market using print advertising, social media, SEO and also video marketing.