A music entertainment company business plan should show how you will use inside industry knowledge, experience in the entertainment industry, and connections in the music world to create a profitable enterprise. This is a tough market space where "here today, gone tomorrow" is a common motto and many promising entrepreneurs don't make it. It helps to have a track record already established and to know some people "on the inside" who can advise or guide you. If you have this leg up, don't be afraid to play to your strengths in the business plan. The document you need to offer a good answer to all of the following points:
• What is your exact service suite, i.e. what do you deliver to the market?
• What sort of music or entertainment style is your specialty?
• When will you need to hire people and what does the personnel plan look like?
• For your business, who are the big players you're up against?
Look in depth at the competitive threats out there and figure out whether there are weaknesses you can exploit to get bigger market share. Name the advisors and consultants whose help can propel your start-up forward. If who you know matters, make it work in your favor! For the industry, cobble together as many recent facts as you can, using databases like IBIS and/or CelebrityAccess to show the scope of the opportunity. Finally, create a five-year pro forma that gauges your profit potential by laying out expenses and likely revenues. Need help? MasterPlans has worked on the planning side of the entertainment industry for almost a decade. Our consultants are available to help you write the plan you need. Call toll-free 877-453-2011.
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