Are you about starting an artiste management business? If YES, here is a complete sample artiste management business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting an artiste management business. We also took it further by analyzing and drafting a sample artiste management business marketing plan template backed up by actionable guerrilla marketing ideas for artiste management businesses. So let’s proceed to the business planning section.

Why Start an Artiste Management Company?

Do you know that with your good music and perhaps talent hunt skills, you can make millions from the entertainment industry without being an artiste? Without a doubt, you can make mega bucks from the entertainment industry by managing artistes or running an artiste management business.

As an artiste manager, you are expected to work on behalf of groups or artistes to promote their careers and run their business affairs. Basically, your job is to secure the best work for your clients, for the best fee. The truth is that an artiste management company can be started in any country of the world as long as you have access to a pool of talented artistes.

If you have made up your mind to start an artiste management company, you are expected to sit down and map out strategies on how to a raise startup capital, how to run the business, as well as how to make profits. That is basically what your business plan document should contain.

It might take you a month or so to come up with a workable business plan, however, you just have to do it. The truth is that your business plan is the blue print with which you can successfully run your business and you are not expected to handle it with levity. It is always advisable to contract the writing of your business plan to professionals if you know that you can’t possibly do it yourself.

Here is a sample artiste management business plan template that can give you the needed direction to successfully write your your own.

A Sample Artiste Management Business Plan Template

  • Industry Overview

Artiste management business is under the musical groups and artistes industry and this industry is composed of musicians, recording artistes and songwriters that produce music professionally, either in front of a live audience, in a recording studio or both.

Musicians in this industry may earn revenue from songwriting, producing or recording, but they primarily operate as performers. Please note that this industry excludes musical theater, opera and other professions involved in the creation of records, such as engineers.

If you take a closer look at the musical groups and artistes industry, you will realize that over the past decade, the industry has been subjected to a series of massive shakeups due to the popularity of mp3 players, music piracy, internet radio and online streaming.

The steady replacement of physical albums with digital songs has slashed revenue from recordings over the current five-year period, largely due to digital music selling at a lower price point. The transition to digital and a large drop in federal funding for the creative arts have caused industry revenue to grow minimally over the five years to 2017.

The Musical Groups and Artistes industry is indeed a thriving and viable business in most countries of the world. Statistics have it that in the United States of America alone, the industry generates over $6 billion annually from more than 54,723 registered and licensed big artiste management companies scattered all around the United States of America.

The industry is responsible for the employment of over 88,626 people. Experts project the music groups and artiste industry to grow at a 1.1 percent annual rate. No single establishment can boast of having a lion share of the available market in this industry.

A recent report published by IBISWorld shows that the Musical Groups and Artistes industry is in the mature phase of its life cycle. The industry experiences complete market acceptance, which is a key indicator of maturity, since music is a popular form of entertainment for most Americans.

The report indicated that over the 10 years to 2022, industry value added (IVA), a measure of the industry’s contribution to the overall economy, is expected to grow at an annualized rate of 1.9 percent. US GDP is forecast to grow at an annualized rate of 2.0 percent during the same time. The industry’s relatively stable value added is further evidence that despite the changing nature of the industry, it remains a mature and stable segment of the economy

One good thing about starting an artiste management company business is that even if you decided to start it in the United States of America, your market will not be restricted to artistes in the U.S.; the world will be your target market, many thanks to the internet that has made the world a global village.

All you need to do is to strategically position your artiste management brand on the internet and you will be amazed at the rate people interested in signing under your management will be calling you from all parts of the world.

Artiste Management Business Plan – Executive Summary

Halley Bent® Artiste Management Company is a registered artiste management business that intends having a footprint in the music group and artiste management industry. We have been able to secure a well – positioned office facility in Colorado Boulevard, Pasadena – California.

Halley Bent® Artiste Management Company is going to engage in the management of various artistes. Part of our plans is to work towards becoming one of the leading artiste management companies in the whole of Pasadena – California and in the nearest future compete with the leaders in the artiste management line of business not only in the United States but also in the global stage.

We are quite aware that starting a standard artiste management business from the scratch requires reasonable capital base especially for the purchase of world – class studio equipment and promoting artistes under your management, which is why we have perfected plans for steady flow of cash from private investors who are interested in working with us. We can confidently say that we have a robust financial standing and we are ready to take on any challenge that we encounter in the industry.

Our workers are going to be selected from a pool of talented and highly creative people with eyes for spotting raw talents. We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with other players in the artiste management line of business in the United States and throughout the globe.

At Halley Bent® Artiste Management Company our client’s best interest comes first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Halley Bent® Artiste Management Company will be owned majorly by Halley Bent and his immediate family members. Halley Bent has a Degree: B.S. in Computer Engineering from the University of Illinois. Halley a native Californian who originally attended college to become a video game developer. He later became senior manager at PayPal before launching Halley Bent® Artiste Management Company. Halley Bent is known for his management style: instead of an office, he sits at a desk among his employees.

  • Our Product and Services

Halley Bent® Artiste Management Company is going to offer varieties of services within the scope of the artiste industry in the United States of America. Our intention of starting our artiste management company is to make profits from the music industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.

Our business offerings are listed below;

  • Rock, dance, country and pop bands writing, recording or performing
  • Independent musicians or vocalists writing, recording or performing
  • Jazz artistes and groups writing, recording or performing
  • Choir recording or performing
  • Musical groups (except theatrical musical groups) writing, recording or performing
  • Chamber musical groups and orchestras writing, recording or performing
  • Symphony orchestras writing, recording or performing
  • Classical musical groups writing, recording or performing

Our Vision Statement

Our vision is to become one of the top 10 artiste management companies in the United States of America.

  • Our Mission Statement

Our mission is to build an artiste management company that will become the number one choice for music artistes when it comes to choosing an artiste management company.

  • Our Business Structure

The fact that we are set to compete with other leading artiste management companies in the United States of America means that we must build a business structure that can support our business goal. We will ensure that we will hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. Below is the business structure that we will build Halley Bent® Artiste Management Company;

  • Chief Executive Officer
  • Entertainment Lawyer/Legal Secretary
  • Artiste Manager
  • Sound/Recording Engineer
  • Admin and HR Manager
  • Marketing and Sales Executive
  • Accountant
  • Customer Service Executive/Front Desk Officer

Roles and Responsibilities

Chief Executive Office:

  • ensures management’s effectiveness by employing, choosing, orientating, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Accountable for fixing prices and signing business deals
  • Answerable to providing direction for the business
  • Fashions, interconnects, and implements the organization’s vision, mission, and verall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Entertainment Lawyer/Legal Secretary

  • Responsible for drawing up contracts and other legal documents for the company.
  • Advises artistes and the organization accordingly before producing their music album or singles.
  • Produces information by transcribing, formatting, inputting, editing, retrieving, copying, and transmitting text, data, and graphics; coordinating case preparation.
  • Provides historical reference by developing and utilizing filing and retrieval systems; recording meeting discussions; maintaining transcripts; documenting and maintaining evidence.

Artiste Manager

  • Accountable for negotiating contracts and fees, finding and booking events and venues that match the artiste’s career strategy, advising on career decisions, publicity and promotion, helping them on career decisions such as which record producer to work with, or which songs to perform, and managing media relations on their behalf
  • Accountable for building a strong reputation for good client services, and attracting more top performers onto their books.
  • Represents a roster of artistes, and cultivate relationships with music industry decision makers on their behalf. They will negotiate deals, and support and guide their clients’ careers.
  • Keeps up to date with what’s happening in the industry, and spend a lot of time establishing and maintaining relationships, using contacts to source work for her clients.
  • Promotes clients’ work, and will often be involved in liaison during the music recording process. May also organize and negotiate contracts for release and publishing, and communicate with the press.
  • Handles any other responsibility as assigned by the Chief Executive Officer

Sound/Recording Engineer

  • In charge of handle any sound related job for the company; helps achieve certain specific sounds or feelings that match with the lyrics.
  • Responsible for mixing and producing beats and sounds for our clients; mix the songs into the final version for the music album.
  • Part of the team responsible for selecting the songs that will be promoted and the songs that will be sold as singles.

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Defined job positions for recruitment and managing interviewing process
  • Carrirs out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Designs job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Facilitates and coordinate strategic sessions
  • Works directly with clients in a non-advising capacity, such as answering questions, scheduling appointments and making sure all training concerns are properly taken care off
  • Oversees the smooth running of the daily office activities

Marketing and Sales Executive

  • Once the album is ready, then the marketing team will go out to market and promote the album
  • Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
  • Identifies business opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of music projects.
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients and music artistes
  • Develops, executes and evaluates new plans for expanding sales
  • Documents all customer contact and information
  • Represents the company in strategic meetings
  • Helps to increase sales and growth for the company

Accountant

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Accountable for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company

Client Service Executive

  • Ensures that all contacts with clients (e-mail, walk-In centre, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the manager in an effective and timely manner
  • Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

Artiste Management Business Plan – SWOT Analysis

Halley Bent® Artiste Management Company engaged the services of a core professional in the area of consulting and business structuring to assist the organization in building a standard artiste management company that can favorably compete with other leading music production companies in the United States of America.

Part of what the business consultant did was to work with the management of the company in conducting a SWOT analysis for Halley Bent® Artiste Management Company. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Halley Bent® Artiste Management Company;

  • Strength:

Our core strength lies in the power of our team and the location of our business. We have a team that can go all the way to give our clients value for their money; a team that can effectively manage artistes to become celebrities. We are well positioned and we know we will attract loads of clients from the first day we open our company for business.

  • Weakness:

As a new artiste management company, it might take some time for our organization to break into the market and attract some well – established music artistes to sign under our label; that is perhaps our major weakness. Another weakness is that we may not have the required cash to promote our business the way we would want to.

  • Opportunities:

The opportunities in the artiste industry are massive and we are ready to take advantage of any opportunity that comes our way.

  • Threat:

Technology and the internet which of course is a major tool for the advancement and gains achieved in the music group and artiste industry can also pose a threat to the industry. The truth is that with the advancement of technology, it is now easier for artistes to promote their works especially via social media platforms.

So also, just like any other business, one of the major threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a new music production company in same location where our target market exists and who may want to adopt same business model like us.

Artiste Management Business Plan – MARKET ANALYSIS

  • Market Trends

Entrepreneurs that are venturing into the artiste management industry are coming in with creativity and good business skills. The fact that revenue is nose – diving in the industry does not in a way stop some artiste management companies from declaring profits year in year out.

The trend in the industry is that most music production companies are trying as much as possible to recreate themselves on a regular basis and also to be on top of their game.

  • Our Target Market

When it comes to artiste management business, there are no exemptions to who you can market your services to. There are loads of people (music artiste and other performing artiste) out there who are interested in working under a well – structured artiste management company.

Over and above, our target market as an artiste management company cuts across music artistes and other performing artistes of different class and from all walks of life.

In view of that, we have created strategies that will enable us reach out to various clients within our target market. We have conducted our market research and survey and we will ensure that our artiste management company is well accepted in the market place.

  • Our Competitive Advantage

We are mindful of the fact that there are stiffer competitions in the industry in the United States of America, hence we have been able to hire some of the best business developers to handle our sales and marketing.

Halley Bent® Artiste Management Company is launching a standard artiste management company that will indeed become the preferred choice for music artistes and other performing artistes in and around Pasadena – California and other cities all across the world.

Another competitive advantage for Halley Bent® Artiste Management Company is the quality and robust wealth of experience of its management team. The management team comprises of professionals who have worked with some of the leading international brand in the music groups and artiste management industry.

Our unique style of attracting gifted artistes also counts towards our advantage especially when it comes to competing with other artiste management companies within the same category that we operate.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

Artiste Management Business Plan – SALES AND MARKETING STRATEGY

Artiste management business is not a business that you have to retail products which is why we must do all we can to maximize any opportunity that comes our way.

Our sales and marketing team will be recruited base on their vast experience in the music industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent artiste and management style speaks for us in the market place; we want to build a standard artiste management company that will leverage on word of mouth advertisement from satisfied clients/artistes.

Our business goal is to grow our artiste management company to become one of the top 10 artiste management companies in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in the U.S but in the world stage as well.

Halley Bent® Artiste Management Company is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to music artistes, performing artistes and key stake holders in the music industry in Pasadena -California and other parts of the U.S.
  • Advertise our business in relevant entertainment magazines, newspapers, TV and radio stations.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local talent hunts, music expos, seminars, and concerts et al
  • Leverage on the internet to promote our business
  • Engage in direct marketing approach
  • Encourage word of mouth marketing from our loyal and satisfied clients

Sources of Income

Halley Bent® Artiste Management Company is established with the aim of maximizing profits in the music groups and artiste industry and we are going to go all the way to ensure that we do all it takes to attract music artistes and other performing artiste that will sign under our brand.

Halley Bent® Artiste Management Company will generate income by offering the following services;

  • Rock, dance, country and pop bands writing, recording or performing
  • Independent musicians or vocalists writing, recording or performing
  • Jazz artistes and groups writing, recording or performing
  • Choirs recording or performing
  • Musical groups (except theatrical musical groups) writing, recording or performing
  • Chamber musical groups and orchestras writing, recording or performing
  • Symphony orchestras writing, recording or performing
  • Classical musical groups writing, recording or performing

Sales Forecast

One thing is certain when it comes to music; music never dies and the demand for good music will continue to grow. This goes to show that any artiste management company that is known to always produce good music will continue to attract talented music artistes and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six months of operation and grow the business and our clientele base beyond Pasadena – California to other cities in the U.S. and even the global market.

We have been able to critically examine the artiste management market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Pasadena – California.

  • First Year: $120,000
  • Second Year: $350,000
  • Third Year: $750,000

N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Strategy

When it comes to the artiste management line of business, you may not automatically start making money, as a matter of fact, you will be expected to invest your money on an artiste, you are expected to groom the artiste until he or she becomes popular and well – sought out for. After that, you will be able to agree on percentage of the fee paid to the artiste to perform.

At Halley Bent® Artiste Management Company we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to upcoming artistes who engage our services.

  • Payment Options

The payment policy adopted by Halley Bent® Artiste Management Company is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Halley Bent® Artiste Management Company will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards/Point of Sale Machines (POS Machines)
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our clients make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to pay for our services.

Artiste Management Business Plan – Publicity and Advertising Strategy

We have been able to work with a brand and publicity specialist to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the music groups and artiste management industry by storm which is why we have made provisions for effective publicity and advertisement of our artiste management company.

Below are the platforms we intend to leverage on to promote and advertise our artiste management company;

  • Place adverts on both print and electronic media platforms
  • Sponsor relevant TV shows and radio programs
  • Maximize our official website to promote our business
  • Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, 4Share, Google+ and other platforms (music online forums) to promote our business.
  • Offer Pro Bono services as part of our community social responsibility
  • Ensure that our we position our banners and billboards in strategic positions all around Pasadena – CA
  • Brand all our official cars / buses and ensure that our trademark label is boldly printed in all our music album covers and CDs et al.

Artiste Management Business Plan – Financial Projections and Costing

From our market survey and feasibility studies, we have been able to come up with a detailed budget for achieving our aim of establishing a standard and world class company. Essentially, these are the areas we are looking towards spending our startup capital on;

  • The total fee for registering the business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
  • Marketing promotion expenses for the grand opening of Halley Bent® Artiste Management Company in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • The total cost for hiring business consultant – $2,500.
  • The total cost for the purchase of insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
  • The cost for payment of lease for a small but standard office facility for 24 months – $150,000
  • Cost for remodeling the office – $20,000
  • The amount required for the purchase of musical related equipment- $40,000
  • Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $250,000
  • The cost for start-up inventory – $10,000
  • The cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • The cost of purchase and installation of CCTVs – $5,000
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
  • The cost of launching a website – $600
  • The cost of our opening party – $5,000
  • Miscellaneous – $5,000

We would need an estimate of $300,000 to successfully set up our artiste management company in Pasadena – California.

Generating Startup Capital for Halley Bent® Artiste Management Company

Halley Bent® Artiste Management Company is a family business that is solely owned and financed by Halley Bent and his immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

These are the areas we intend generating our startup capital;

  • Generate part of the startup capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from the Bank

N.B: We have been able to generate about $100,000 (Personal savings $60,000 and soft loan from family members $40,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

ARTISTE MANAGEMENT BUSINESS GROWTH: Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals/customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of artiste management services and other related services and also to work with both music artistes, and other performing artistes.

We know that if we continue to manage artiste who are great performers or who are known to release hit songs back to back, then there will be steady flow of income for the organization.

Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members. We know that if we implement our business strategies, we will grow our artiste management business beyond Pasadena – California to other states in the United States of America in record time.

Check List/Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Renting of Office Facility: Completed
  • Building of Music Studio: In Progress
  • Intellectual Property Protection and Trademark: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the startup capital from the founder: Completed
  • Applications for Loan from our Bankers: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the Needed studio / musical gadgets, furniture, office equipment, electronic appliances and facility facelift: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business (Business PR): In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
Joy Nwokoro