Creating A Business Plan!! Help!!!!!!!!

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ccrossley

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Hey there!!

I'm new to this site and I had some questions!!! I'm a Senior at the Art Institute of Atlanta. I'll be getting my Associates in Audio Production this Summer. As a final piece i have to create a "mock" 5 year business plan for a recording facility. I am currently having trouble creating the cash flow projection charts. I just do not have ANY an idea how to come up with realistic figures that will project the growth of the business. If there is ANYONE who can help, please respond! I'D GREATLY APPRECIATE IT!!

CCROSSLEY
 
I imagine. I have learned that a lot of businesses, not just a recording business, fail within the first two years of operation. This is not a real business plan, so for the purpose of this mock plan, do you have any suggestion on coming up with these figures?

ccrossley
 
This is a weird place to post this thread. I'll send my business plan if you want?
 
ccrossley said:
Hey there!!

I'm new to this site and I had some questions!!! I'm a Senior at the Art Institute of Atlanta. I'll be getting my Associates in Audio Production this Summer. As a final piece i have to create a "mock" 5 year business plan for a recording facility. I am currently having trouble creating the cash flow projection charts. I just do not have ANY an idea how to come up with realistic figures that will project the growth of the business. If there is ANYONE who can help, please respond! I'D GREATLY APPRECIATE IT!!

CCROSSLEY
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Cash flow projection is easy. Right work out roughly what you'd charge per hr, and how much work you'd hope to get in a month. So maybe $40/hr and, for example, you might get, on average, three bands a month, one for 5 days(40 hrs) for an album and two for 2(16hrs) for demo = $2880/month x12 = $34560 yearly total income (Mine is in £s and includes other areas of my business, promotions and retail). The second year you might get slightly more bands, so up it a bit, and so on.

The easiest way to explain is to attach mine, and i can't attach the document 'cause it's too big, so here's pictures(monthly, then yearly)
 

Attachments

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  • yearly income.webp
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Creating a Business Plan!! Help!!!!!!!!

pandamonk said:
hahaha so true :p
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OMG!!! Thank you! Gosh this site really is helpfull! and if you don't mind sending your biz plan, can you send it to my yahoo adress? its the same as my Yahoo instant messenger address.

I have figure out the hourly rate for everthing, its just the things like interest, depreciation, taxes, rent, accounting and legal, maintainence engineer, and anything else i may need that will accrue a monthly expense. I know that this project will be helpful for me in the future. I'm just not interested in opening a recording facility. I'm actually more interest in opening a record store and working on recording projects as another form of income.

Thank You For all your Help!
ccrossley
 
ccrossley said:
OMG!!! Thank you! Gosh this site really is helpfull! and if you don't mind sending your biz plan, can you send it to my yahoo adress? its the same as my Yahoo instant messenger address.

I have figure out the hourly rate for everthing, its just the things like interest, depreciation, taxes, rent, accounting and legal, maintainence engineer, and anything else i may need that will accrue a monthly expense. I know that this project will be helpful for me in the future. I'm just not interested in opening a recording facility. I'm actually more interest in opening a record store and working on recording projects as another form of income.

Thank You For all your Help!
ccrossley
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I don't use yahoo, so don't know what I'm doing with it. If you want to PM me your email address i'll send it.
 
ccrossley said:
I have figure out the hourly rate for everthing, its just the things like interest, depreciation, taxes, rent, accounting and legal, maintainence engineer, and anything else i may need that will accrue a monthly expense.
Click to expand...

Once you have a projected income figure then double it and that will realistically be your expenses. :D
 
TexRoadkill said:
Once you have a projected income figure then double it and that will realistically be your expenses. :D
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Too funny.

Yes, If I was in this too make money, I would be a freelance engineer and not a studio owner. The business model has changed, and continues to change. With big studios desperate for business, you can negotiate amazing deals as a freelance engineer.
 
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