If you are looking for a sample record label business plan template, here is a business plan for starting an independent record label business and free feasibility study example you can use.
RECORD LABEL COMPANY BUSINESS PLAN SAMPLE PDF / DOC
A record label company is basically a business that is concerned with helping music artistes to be able to release their music singles and/or albums to the general public. The process usually begins with the signing of a record deal or contract between the record label and the artiste.
If you are already set to start your record label business, and you want to write a good and simple business plan for your business, then this article will prove very useful to you. This article contains a record label business plan sample.
BUSINESS NAME: Optimistic Record Label Company.
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
Optimistic Record Label Company is a record label company which has fulfilled all the legal requirements for starting a business in New York, United States of America. The business would do all within the law to fully carry out all its operations.
Jimmy Justice and Philly McCarthy will both be the owners and managers of Optimistic Record Label Company which will be located in New York, United States. They have both been able to secure a total of $150,000 from their savings and the sales of some of their assets just to be able to contribute towards the startup capital which amounts to $350,000. The remainder will be borrowed from their banks.
Our Products and Services
Optimistic Record Label Company is in the music industry to provide its numerous music related services to clients not just in the United States of America, but all around the world. We will be having our headquarters stationed in New York, United States of America. Our services offering will encompass numerous areas in the music industry.
Our vision in the music industry is to build a record label company that will be rated as one of the best, not just in the United States of America, but in the entire globe.
Our mission is to be able to build a standard record label company which will produce some of the best talents in the music industry. We are committed to working hand in hand with our music artistes in order to unleash their true potential.
We well know of the stiff competition in the music industry, and as such, we will do well to build a very strong business structure so as to have a very reliable foundation for business success. We will do well to recruit only employees that are qualified, talented, skilled, hardworking, and reputed as some of the very best in the music industry.
The successful record label business is such that requires great skills and creativity from entrepreneurs who are coming into it as startups. They are also required to have good business skills to be able to thrive in the industry. There is so much profit in the industry for entrepreneurs to make each year.
One thing that encourages startup entrepreneurs to venture into the business is the fact that they could one day also become assistant celebrity on a much grander scale, especially if they are able to produce from their record label, a very astounding and successful music artiste.
Another trend in the industry is that lots of record label companies now take advantage of the internet in promoting their brand, and enlarging their sources of earning more revenue. Also, they are no longer comfortable with being restricted to the local level; they have started venturing into the international scene in various parts of the globe.
As regards music, there is virtually no limit as to your target market. You could sell your music to anyone, since different kinds of music are suitable to different kinds of people. There are so many genres of music, and these genres of music appeal to various groups of individuals.
Typically, you would find out that old people prefer highlife and countryside music, while younger ones are naturally drawn to pop, hip hop, blues, reggae, etc. Also, devoted Christians would be particularly drawn to gospel music. And so, our target market will comprise of everyone.
Sales and Marketing Strategy
We have been able to seek the help of some of the very best business developers we could get around. This is so as to help us to be able to devise ways on how to deal with the stiff competition typical of the music industry. We well know that it would require continuity on our part to be able to make it big in the industry and gain the fame and fortune that comes along.
The following are the ways which we have devised to be able to compete favourably with the top record label brands in the industry:
- We will make sure to fully introduce our record label company to prospective customers. This, we will do by making sure we send introductory letters about our business, together with our business brochure to various organizations, communities, and influential stake holders in the New York music industry, as well as other parts of the United States of America.
- We will do very well in hosting music talent hunt shows where we will be able to source for upcoming talented music artistes with lots of potential.
- We will do very well to advertise our record label business on online magazines and newspapers, radio and TV stations in New York, and other cities in the United States of America.
- We will not hesitate to fully use the internet to promote our business.
- We will list our record label business on yellow page ads.
Source of startup Capital
We will need a minimum startup capital which will amount to $350,000. This startup capital is useful for us to be able to get the needed equipment and facility for our record label company. We have been able to actualize a total of $150,000 from the savings of our owners’, while the other $200,000 will be sourced as a soft loan facility from the owners’ bank.
Optimistic Record Label Company is a new record label in the industry, but that does not in any way mean we would be laid back, and watch other record label companies take the lead in the industry. We are coming into the industry with a team of highly professional individuals. Also, our recording studio facility and recording equipment are some of the very best in the industry.
Above is a simple and standard record label business plan sample which bears the name ‘Optimistic Record Label Company’. This business will be owned by Jimmy Justice, and Philly McCarthy, both of whom have been long time friends and associates. The startup capital will be sourced from both the owners, as well as from their banks.