A Basic Guide for How to Make Performing Your Business
If you are looking to open up a company dedicated to the performance arts, we regret to say that you are in for some seriously harsh struggling uphill. There is virtually no chance to find a wealthy and discerning sponsor who might want to provide you with funding. It is hard to convince people that performing (or any art, really) is a business which has to turn profits to stay alive.
In other words, you will have to do everything from the ground up, secure the funds, divide the work, and handle the marketing and the legality of the whole thing. Depending on your specific work, you might be facing a bit of a different process, but we outlined the essential steps for you in this guide.
Figure out your business structure and company mission
If you want to Make Performing Your Business, you have to have a detailed plan for how that business will operate. Okay, obviously, you will not be running a non-profit gig. But how will you handle the profit you make and divide it into pay checks? Your performers and the accompanying staff are here to make a living, after all.
Will you pay them a fixed amount regardless of fluctuations, or a percentage of whatever you make? How often will you pay them – monthly, bi-weekly, per
performance? Would you employ people on the basis of re-negotiable fixed-period contracts or would you prefer to juggle freelancers (no pun intended)?
Then, you also need to consider the “mission” of your business. This is critical for your financial and marketing plans, believe it or not. External people who might be your potential financiers will form their impressions of your business based on what they read in your mission statement. It will also be a big element of reaching out to consumers.
To form a good mission statement, you will need to consider some essential factors. First off, what is your business aim, what do you hope your company will achieve in the market? Then, who is your target audience? Who will be following your business and paying to watch your performances? You can find some more awesome tips for kickstarting your business at this link.
Finally, think about what positive effect you might have on the general community (even if you will be brokering for travelling performers). People always want to hear about the good things that you bring, especially when they are supposed to pay for you being there.
Find a way to secure some funding
You are going to need to make a ltd. (limited company), and it would be a good idea to apply for charity status, too. Call up the relevant state or country body (usually called a Council of Arts or something along those lines) and see if you can apply for a
government grant. Make sure you can present a thoroughly compelling case, though, since you will likely be facing fierce competition.
There is also the avenue of sponsors from the private sector. Reach out to corporate groups or individual companies. In that case, you must have a viable and detailed business plan to show them. You can learn how to write one here: https://www.wikihow.com/Write-a-Business-Plan
Browse their websites and see if there is a social responsibility policy that you will have to comply to. Be as professional as humanly possible – remember that you are just an unsolicited leech until you win their favor.
Some other potential options for securing some cash are also possible. These include non-governmental trusts and foundations (in this case you may not even need charity status), individual patrons’ donations (depending on your marketing success), and potential co-productions with some other, already established, performance business to get your name out there.
Establish and expand your brand
We mentioned marketing a lot. Even if you resent it, good marketing should be around one-third of your business if you are serious about making it work. Budget for social media promotion, regional prints and broadcasts.
Performances will not earn you all you need, so expand into events management for companies, training for stage skills and stage craft, confidence building events, and role-play workshops.