Buisness plan

My budget to produce an event is £500.

The service i will be providing is a gig at a small venue. My target audience are adults as they are more reliable to turn up and i would not want to lose profit by not being able to sell my tickets because people cannot come. Also, venues that host gigs usually want adults as there will usually be a bar and this is where they can make their income of my event. If all is successful i will have a good record with them and be able to book there regularly.

I will start planning my event 6 months prior to the open day. This will give me enough time to; find a venue, rehearse my material, promote my event, sell the tickets.

Firstly i will find a venue - therefore i can secure a date and time. When finding a venue it would be beneficial for them to have equiptment already there - which they most likely will. However, if they do not this will be an expense i will have to pay for. Hiring equiptment (lighting, instruments) should not be a problem as i would find a venue which already has them. For example the camden roundhouse as they specialising in holding and hosting events. Their main space can host up to 1,200. However, they do have smaller rooms which i can book which could hold up to at least 200 people - as when i went to a gig there there were roughly this amount of people.

Secondly, i will start producing flyers and thinking of marketing ideas. A good route to go down would be guerilla marketing in order to make sure people remember my event - as this will make it more likely that they attend. I could also use viral marketing and put up an event page on a social networking site such as facebook. This is an even better idea as people can invite their friends who i dont know and the page can be shared between a lot more people. A good guerilla marketing idea would be to do a small gig on the street in order to attract people from all places and there will i hand out flyers. This is good in two ways - music attracts a crowd and who would want to go to a gig where they have never heard the artist before. In this case, they will be able to see what they would be paying for and hopefully the performance entices them to spend their money on a ticket to see more. However, to produce such an event would be risky as i would need a licence to perform outside. Therefore, i could go around to areas with lots of people (oxford street, marble arch, notting hill, high street kensington) and hand out flyers. The cost of producing flyers could be costly depending on how much i print. Making these through a company (for 200) could come up to £60 according to http://www.fullphatprint.co.uk/store/p59-digital-print/digital-flyers/a5-digitally-printed-flyers/200-A5-Flyers.cfm . However if i did it myself i could be a lot cheaper and i could make more depending on the art scale of the flyers. As i am targeting adults i wont need to go into a lot of detail on the flyers in terms of colour and art which will save me money. If i handed out flyers i would not necessarily need posters however i could make around 10 to put up around the area of my venue which will draw in a crowd as people will have probably heard of or seen the venue.

When all of this is done - and it comes to the day, i could just get people to pay at the door instead of producing tickets which would cost more money.

Overall, the money that is needed to be spent in order to organise an event would be up to £400. If i sold 100 tickets for a low price of £5 i would be making £100 pound profit. However, due to the size of the venue i would definitely make a profit of more than £100. Which in my opinion is fine as the gig will be only myself i will not have to pay out money to other acts. Although - if there were other acts i could have hired a larger venue and they have their own fan bases which means more people, and more people means more money.