Do you have a band and wish to make money with it? This is not easy to do, but you can make it work if you are careful and are good at what you do. If you’re in Canada and have a band, read these guidelines.
These days, people love free music and will steal yours eventually if you are popular enough. One way to curtail this and to possibly make more money than just selling albums is to let people pay whatever they want for an album. Yes, this means some people can even get it for free. What this does is it lets people that like your bank contribute what they’d like, and those that want to test you out don’t have to commit. Most bands that do this make more than if they worked through a record label and made it hard for everyone to get the album for a price that’s fair for them.
You can make far more money off of merch if you consider that you get most of the money for it and can use it to advertise. You can also run contests on social media where you give away items to try and get more people interested in your music. When someone wears your band’s shirt or other gear they are acting as a walking billboard for you. It may just cause others to look you up and that’s always a good way to make money.
Once you learn how to run your band as a business in Canada, you can start to make money. Don’t just do music for free if it’s your job. You can make money and you don’t have to give away music for free if you don’t want to.
Are you planning to take your music skills to the next level? Have you decided to start a label or create a bad? Or perhaps, you want to start a recording studio? Either of these three, you must follow these basic steps to jumpstart your musical venture:
• Make plans, short-term and long-term and be sure to set clear goals that are attainable and evaluate each of them.
• Determine which services or products will you sell. Know what benefits will your products and services will give to people who buy them.
• Analyze your strength and weaknesses and know who your competitors are. It is crucial to know what others are doing in order to formulate a strategy that will make you stand out from the rest of them.
• Decide who will be your target market. This is important because you can tailor your products and services according to what your market needs. Create strategies on how you will find your new customer and how you will keep them.
• Be wise with handling your money. create a business checking account wherein you will deposit your business income and pay all your business related expenses using only this account as much as possible.
• Decide on the legal structure of your business. Know the costs that will be associated with your business such as the starting costs, promotional costs, rent, taxes, etc.
• Protect yourself by having several insurance such as health and property insurance. Talk to an expert to know which insurance is right for your music business band in Canada.
For most people music is more than just a hobby, but a way of life. Music is freedom to express one’s self and passion. Music is everything. But how about when you turn your passion into a business, how feasible do you think it is?
If you think you can create your own music and create your own song, then publishing is easy as it has “already” become a business without you knowing it. It’s like this: as soon as you create your own piece and develop it into a song, you are not just the creator of that song but the publisher as well. You control and own the copyright.
There are numerous ways to harness your skills and eventually turn it into business. But first, let me share the two fundamental steps to get your songwriting skills into business:
1. Know what you have and what you control – This means knowing what you “literally” have to the song. If you have a partner or you’ve written as a band, how much does each of you have contributed in the song? Or if you have collaborated with a producer or any other musician, do you think they own any share of the song? Any other person who helped in creating music or shred even just a piece of line should be considered to know if they own any ownership of that piece too.
2. Have everything you need – May it be a musical instrument or a notebook to write with, you need to have it first. This is important as this can help your produce and record more music. Make sure that you can take advantage of everything you have to start your music band business in Canada. Invest with all the necessary things that can help you produce better music.