How I'd Like To Start My Label

J

JMD_Music

New member
So here’s my business plan. I know this plan isn’t the normal way of starting a label, but I wanted to take my own approach. I read that the owner of Tooth & Nail records started the label out of his bedroom after college. This is the business plan I propose.

I go to school online and live at home, so I do have a lot of free time. What I planned to do was start my own label, trademark it, and get everything official. I would get a full time job which would help pay for everything I needed to get done; recording, mastering, promotion, etc. I was hoping to find an artist, or two, and basically develop them. I was gonna buy exclusive beats online and have the artists record them at a studio near them. If they had a home studio at their home, I would take care of getting the songs mastered. I would also call and email blogs, radio stations, and just about anyone I could find to play their music and give them any type of exposure. I would also take of photo shoots and music videos. After they got some buzz (hopefully), I would look around and try to get them some shows in their area so people knew how they performed live. I’d get a graphic designer to design a logo, I’m not sure if I would get a website just yet. I wouldn’t make physical copies of their albums, I would only release it on iTunes, so that way I could save some money. I know there are business that handle promotion, which I was also willing to pay for.

I’m sure I’m missing some more stuff. If anyone has advice, it’s greatly appreciated.
 
You are exactly what these so called "artists" need. I play this role with an artist I have developed for a while and it has paid off. Don't worry too much about the whole "label" business. Pick 1 artist and focus on them, don't spread yourself too thin and be prepared to play the background. Make sure you trust the artist and that the artist trusts you.
 
I wouldn't want to single-handedly take care of a bunch of artists. I was also thinking it would be a waste of time to officially open a label, but maybe do all their promotion, pay for their recording, and basically get them to trust me. Hopefully down the road I could become their manager or possible also open up a label.
 
good start plan
have you ever done a business plan before???
check out your local score chapter in your city
and sba in your city/state
I have a several business plans before and just got done doing a business plan for my contempary christian Media/Ent. company
need help I willing to spend some time helping you for free
but as always the information is out there
believe me it's way more to it then what you wrote a whole lot more
The Walking On Water Media/Ent. Business Coach Antonio
Research and Information Gathering Expert
 
I really recommend just finding one artist and developing them. It will take quite a lot of time, you should post your results.
 
JMD_Music said:
Do you think transferring and going to school with a major in business would be a good or bad idea.
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learning business on your own or through proper schooling/college is never a bad idea
just learn how you can apply your knowledge,relationships,and experience to the business of music

The Walking On Water Media/Ent. Business Coach Antonio
Research and Information Gathering Expert
Christ is King of All Men

 
Skip the college part unless you are going for a professional degree... engineering or accounting, etc. Use the money for your business plan along with your job. Not knocking college, I have a B.A. in Finance. I'm good with numbers, but rarely ever use my degree in a professional sense. If you have a natural knack for business... start a business. Don't waste time with a business degree. You can read a few books and get the same basic information. Have a solid fall back plan if you are going the degree route. Can't go wrong with Engineering or Medical Field (growth industries). Just don't get a degree in audio recording, philosophy, liberal arts, etc. those are a waste of money.

You have a good plan going. If you recognize your weaknesses and are willing to outsource (or source) those weaknesses to professionals then you will most likely succeed. The biggest problem I observe small business owners & label start ups making is DOING EVERYTHING YOURSELF... i.e. making the beats, graphics, etc, etc. Focus on what you are good at, if its business... then bam! You will be just fine.

There are alot of inspirational figures out there. Check out Audible Hype, its a great blog for music entrepeneurs....Articles // Audible Hype

I'm also a big fan of Illmind for a hip hop role model. Dudes formula is flawless.
 
Donald Passman - All You Need To Know About The Music Business.

EDIT: Wow, 5000 posts on FP!
 
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deanlofts said:
Donald Passman - All You Need To Know About The Music Business.

EDIT: Wow, 5000 posts on FP!
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One for the records yeah!!!!
moving on Saturday about to have my own office finally!!!! yeah here too lol

The Walking On Water Media/Ent. Business Coach Antonio
Research and Information Gathering Expert
 
I'm actually looking to move to LA and switch my major to business, and start my label in college while working to fund everything. I'm currently developing a business plan. I'm really trying to take this seriously.
 
JMD_Music said:
I'm actually looking to move to LA and switch my major to business, and start my label in college while working to fund everything. I'm currently developing a business plan. I'm really trying to take this seriously.
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alot of want-a-bees in Cali be careful,my friend and I would save up 6 months of living expenses before moving out to Cali too.. so you can use all the money you make at your job while in school to fund your business activiites.
 
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