Booking Agency Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Booking Agency Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Booking Agency business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
- Bank/Investor Ready
- Complete Industry Research for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Booking agencies can be profitable businesses provided that the owner has a substantial amount of contacts within the entertainment industry. The barriers to entry for new booking agency are relatively low – however, the success of these businesses is solely focused on the owner’s ability to properly place talent with entertainment businesses. Generally, the startup costs are associated with a new booking agency typically range anywhere from $25,000 to $100,000 depending on the underlying capital needs of the business. Most importantly, and entrepreneur that is looking to enter this field should have an understanding of the complex employment laws that surround the operations of these businesses. This is one of the more complex aspects to owning and operating a booking agency on an ongoing basis.
As it relates to raising capital, most booking agencies will typically be funded directly by the owner or through a third-party investor. Most banks and lending institutions will not generally provide the startup capital necessary to launch a new booking agency given that the company requires very little tangible assets. However, once a booking agency is established and generates highly recurring streams of revenue from the placement of talent with entertainment businesses – most institutions will provide a working capital one credit based on the monthly receivables of the business.
As with all capital raising activities, a business plan that is specific for a booking agency is going to be required. This business plan should feature a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. Special attention within the business plan should be focused on how the booking agency will recruit its initial talent to be represented by the firm. Typically, most booking agencies will – at the onset of operations – maintain an expansive presence at tradeshows where models, actors, musicians, and other entertainers can showcase their talents to potential booking and talent agents. This is the quickest way to get an individual or artistic art to sign with the booking agency firm. A special focus should be spent in discussing the demographics of the and genres of artist that will be targeted with these marketing campaigns. The gross margins generated from agencies typically are equal to 10% to 20% of the total fee generated for the artist. One of the things that should also mention within the business plan is that an appropriate attorney should kept on retainer to ensure that all booking agency contracts follow the letter of the law.
A booking agency marketing plan should focus significantly on how talent will be introduced to potential entertainment firms. One of the ways that this can be accomplished very quickly is by and having substantial amount of relationships with venues that will host live performances for clients that are enrolled as in the company’s services. This will not only increase awareness of the individual artist brand name but also the brand name of the booking agency as well. The usage of social media is of special importance given that many artists now develop their brand and their visibility through social media platforms including FaceBook, Twitter, Instagram, Google+, and Reddit. It will be imperative that the booking agency maintain a social media consultant or in-house marketing manager to showcase the social media pages of retained artists as well as for the booking agency firm as well. It can be anticipated that approximately 20% of all net revenues will be allocated towards ongoing marketing expenses.
A booking agency SWOT analysis this is frequently developed as well. As it relates the strengths, most booking agencies are able to generate very high gross margin revenues from a low capital risk program. The ongoing expenses for a booking agency are considered relatively low – at the onset of operations – given that it is usually the owner who places the initial artists with entertainment companies. For weaknesses, there is a significant amount competition within the entertainment and booking and talent industries. One of the ways that the booking agency can attain a competitive advantage is by having a specific focus on a genre of music or film that they will recruit talent for on an ongoing basis. For opportunities, many of these agencies will hire associate agents in order to boost the revenues of the business. However, this usually occurs once the booking agency is profitable and cash flow positive. Finally, as it relates to threats – beyond any competitive issues that the booking agency will continue to face there may be some changes in regulation as it relates to managing talent. Again, having a qualified attorney on retainer will ensure that any changes in regulation can be dealt with appropriately.