Sell Your Stuff
How and when you make money is fundamental to how long your band will survive and how successful you will be. Most bands have several ways of making money – selling music, performing live shows, selling merchandise, etc. It is important that you understand each revenue stream and how it affects your overall business. Your revenue plan is a dynamic process. As your band evolves, your revenues may change so you should revisit this toolkit on a regular basis and update the data as needed.
A separate toolkit should be completed for each revenue stream that you undertake. Common revenue streams are:
- Selling music (physical, digital)
- Performing live shows
- Selling merchandise
- Getting royalties
- Licensing to TV/film
- Teaching classes
- Selling advertising
- Getting rental payments (for practice space, equipment)
This toolkit gives you a basic system to understand and manage your expenses and revenues and make some projections. You also can use this toolkit as a foundation for the more rigorous financial analysis required in business plans.
It is divided into two parts: 1) answering questions to help you understand the details and characteristics of your revenue stream, and 2) entering data on revenues and expenses.
What is this?
A toolkit to help you identify and understand your target market, competition, financials, etc. for each specific revenue stream your band adopts.
How do I use this?
Gather the band members and jointly complete one toolkit for each revenue stream by answering the questions and entering financial data.
Why is it important?
It provides a systematic way to organize and keep track of your expenses, revenues, profits so you can make informed decisions about which revenue streams help or harm your band’s business.
When do I use this?
After completing the Brand Toolkit.