Setting up a business

Risinfromthegutter

My brother, myself and a friend are hoping to set-up a local record label based in our hometown.

Our label will also work alongside its sister promotions firm to showcase the cream of the labels talent to the adoring public, putting on shows, gigs and festivals throughout the region.

We are initially focusing on the promotion side of things, to build up a reputation, so to give our bands the best possible chance of succeeding. We have arranged our first gig for July 5th and are in the process of organising our second, third & fourth shows, which are scheduled to go ahead monthly therafter.

These series of events will be an attempt to raise funds to launch the label, with our main aim to incorporate either as one company or two seperate companies soon after. At this point we would look to recruit bands to sign up to the label and bring the music of the region to the masses. An idea is also to open a small retail shop in which to sell our bands music.

In terms of qualifications I am a part-qualified accountant and my friend works in marketing, so between us we have some relevant knowledge, but do not have the experience of such an activity, we are all highly motivated and have a passion for music.

I was wondering if anyone could offer us any help or advice for the business that we are attempting to create? We were wondering if you could offer some advice on funding, grants or just businesses of our nature in general.

I apologise for the long story, any information would be hugley appreciated.

Thanking you in anticipation,

Risin

Phirefly

Hi

My best friend has sucessfully done exactly this, but in the dance music genre. He co-owns Lost My Dog recordings (www.lostmydog.net) and Kahua Music (www.kahuamusic.com) both which he built pretty much from scratch. He's now consulting, offering advice and solutions for a fee to other independent labels. His particular forte is getting press and pr, finding funding and web solutions. Much of his consultancy work is generated from other small labels getting in touch and asking how on earth he manages to generate so much press and publicity for Lost My Dog. His fees are pretty nominal in comparison to how much revenue comes as a direct result of the press he can generate and sources of funding he can sniff out.

Apologies for the blatant plug but I thought it was relevant to the thread and I'm a seasoned MSEer who normally contributes to the house board.

If you're interested, I'll pass on his details to you.

Good luck