A small promotions and entertainment business can deal with a variety of work. Your company’s client base might include emerging musicians, comedians and actors. Alternatively, you could work on planning parties, such as for children, school reunions, or civic events. While it is better to have industry experience initially, you could improve your knowledge as you grow. Many students establish event promotions companies while they are still in school.
Select an appropriate company name and location. While you could start as a home-based business, consider renting an executive office in an office building. One advantage to using an executive office involves the professional workspace since your clients will not have to meet you at your home.
Decide the overall focus. If you want to establish a promotions company, you might work only with individual artists rather than groups or modern instead of classical musicians. Your entertainment business even could be set up as a consulting firm that helps venue owners increase foot traffic and exposure.
Determine the company’s media strategy, such as radio, print, email, nightclub focused, or mixed promotions. Other services might include improving client image, handling crisis situations and preparing press kits. Avoid overextending your business too quickly, especially if you have little prior experience.
Develop a niche to create a competitive advantage and avoid overextending the company. For example, your company could be the go to place for emerging country singers in your state that handles booking, event planning, and advertising.
Find new talent or clients. Host a regular open mike night where new or emerging artists showcase their skills. Always carry a small camera or camcorder to record potential new talent. Create a simple website that describes your services and contact information.
Register the company with your state’s Secretary of State, which usually maintains a business division. Regularly review operations to ensure that you break even (expenses cover revenues).
Contact a licensed attorney and certified accountant to understand your business legal and tax exposure.
- party image by Tammy Mobley from Fotolia.com