Business plans for audio production

[Dan R]

Hey guys,

Recently I've registered for a program with the Canadian government that offers grants to small businesses that have proven themselves to be profitable, but need money to expand. I was wondering if anyone else has had experience with a similar program, or has written an extensive business plan for their audio production company. Any tips or examples would really be appreciated.

Cheers,

 

[HeadCrusher]

I did a hypothetical calculation once where maybe 60% booked would allow me to pay studio rent, pay off investement debt and leave a couple of hundred bucks for my personal needs. Practically it's not all that hard to do but usually with this kind of programs need a lot of securities calculated. What if you get sick? Insurances...

 

[Jarkko Mattheiszen]

I should have my business plan stashed somewhere, and while it's insanely extensive, I doubt it would be of any use to you since it's in Finnish. For what it's worth though, when I took it to the loan negotiations with the bank, their response was basically "this is one of the most detailed and realistic business plans we've seen, but considering the current state of the business, the risks are just way too high to rely in long-term profitability."

Anyway, the problem is in the "proven themselves to be profitable" part. As it is, the audio production industry is in a horrible state, and the only way to assure them on the profitability is to already have a good, constant customer base and get them to believe why an additional investment would allow you to a) get even more work in b) increase your rates to make more profit.

Here's an excellent read on the subject, and while it's a bit toned a bit too pessimistic, it should give you some good insight on what to consider when going over your business plan: http://www.audiopronet.com/blogs/entry/open-a-recording-studio

 

[Line666]

I know the last thing anyone needs for this shit is a smartarse response but for want of some more realism - getting started in the audio industry:

 

[Dan R]

Thanks, I was looking for want of some more realism. It's for a small grant for a hobby studio, not anything huge.

Cheers guys, the links are helpful.