Business Plan for

Contents
Overview of Business Proposal.................................................................................................................3
Estimate of Personal Worth.......................................................................................................................5
Survival Income.........................................................................................................................................6
BUSINESS P!N....................................................................................................................................."
Nature of Business................................................................................................................................."
#esume of Owners$%ana&ers................................................................................................................"
Short an' %e'ium (erm O)*ectives.....................................................................................................+
%ar,et....................................................................................................................................................+
Premises- e.uipment an' vehicle re.uirements.................................................................................../0
Start Up 1osts......................................................................................................................................//
Investment #e.uire'............................................................................................................................/2
Sources of 3inance............................................................................................................................../3
Overview of Business Proposal
%4 )usiness plan is to open a recor'in& stu'io which will mean )u4in& the correct e.uipment to
ena)le me to recor' at the appropriate stan'ar' I nee' to. I will )e aimin& to ma,e a livin& throu&h the
recor'in& in the stu'io- I will 'o this )4 ma,in& the )est investments in e.uipment an' ma,in& the
most of hours within the stu'io for the artist. I am hopin& to ma,e +000 poun's worth of profit throu&h
m4 first 4ear of wor,. (his will ena)le me to live off the first 4ear of income- )ut I will )e a)le top
)uilt up a portfolio of wor, over this time- therefore I will )e a)le to &et more wor, if people en*o4
recor'in& in m4 stu'io. I am luc,4 enou&h for m4 parents to let me use a propert4 free of char&e to
help me &et starte' with m4 )usiness- therefore minimi5in& the amount I nee' to pa4 out monthl4 an'
overall.
Estimate of Personal Worth
If you intend to borrow money to fund the start up of your business you will have to give details of your assets.
This will enable the lender to gauge your ability to repay any funds lent by them to you.

Property
Value of house
0
Value of other property 0
Savings/Insurance
Surrender value of insurance policies
0
Cash in bank/on deposit 0
Other Assets
Value of cars!
0
"ther assets 0
Total Assets 0
Liabilities
"utstanding mortgage
0
#egular payments 0
"ther outstanding loans 0
$ills currently due for payment 0
Total Current Liabilities 0
sti!ate" #et Assets
Total assets less total liabilities!
0
Survival Income
%se the form below to work out how much you and your family need to survive in the ne&t '( months.
per annu!
sti!ate" $pen"iture
)ortgage/#ent
0
#ates and water rates '000
*as+ electricity , oil '(000
-ll personal , property insurance 0
.ood+ general housekeeping e&penses (/00
Clothing 000
Telephone '12/
3ire charges tv+ video+ etc.! 0
4ntertainment+ meals and drinks! '000
Subscriptions to associations+ 5ournals etc.+ 000
Car 6 ta& and insurance '(0
Car 6 running e&penses (000
Car 6 service and maintenance 70
Childrens8 e&penditure and presents 0
Savings plans 0000
39 repayments
"ther please state
Contingencies
Sub%Total &a' $pen"iture ('+22/
4stimated Income
Income from family/partner total!
:0+000
"ther income please state!
Sub%Total &b' Inco!e :0+000
Total Survival Inco!e
(e)uire" in the *ear i+e+ &a' , &b'
7+((;
BUSINESS PLAN
Nature of Business
a! <etails of trading activities.
The trading which shall be done is through the recording of tracks+ and the cost of recording is all down to the
hours spent doing this. $ands will be able to book longer sessions for cheaper+ so if buying the hours in bulk+
there will be a discount.
b! <ate of commencement
The date of commencement will be after I finish my btec course at college and take a year out to get e&perience
working with bands. So ( years from now.
c! 4&pected date of commencement new business only!
The e&pected date of commencement will be at the start of (0'2 if all running8s go to plan.
d! $usiness type i.e. sole trader+ partnership+ limited company!.
I will be a sould trader as I will run the business on my own+ therefore I can ma&imi=e the profit for myself -nsd
therefore make it cheaper for bands to rent out the studio.
Resume of Owners/ana!ers
a! Short personal and business background including age+ family commitment+ >ualifications+ skills and
e&perience attach your CV!.
I am a '2 year old student from "&fordshire who wishes to start up a business in the music industry. I have no
family commitments as they are very independent and do not need my help. In my *cse8s I got 0 $8s and ; C8s
which then meant I was able to take up the e&tended diploma at 3enley College. I have grown up around music
my whole life and now wish to take my love for this area to the ne&t level. I wish to create a successful
recording studio. I have busked and gigged for about ; years now so I have confidence in the area of music.
b! -re you employed at present and what is your position? @ew business only.!
I am not employed at the moment as I am still in full time education.
c! Specialist training courses re>uired.
I will need to take a music tech course at university to get as educated as I can in the area of recording and
studio work+ as the more studio time can get the better I will become.
Short an" e"ium #erm O$%ectives
Ahat do you/your business hope to achieve over the ne&t one to three years?
I wish to get a sound investment for my business and start to build up a good portfolio for myself+ this therefore
will mean I can get better artists in to record at my studio. Then later on I wish to invest in a better studio
whether I buy one or rent one I will decide this when I get an investment from someone+ this is dependent on
how much I raise towards my business.
ar&et
a! <escribe the market you aim to trade in
I aim to trade in the music industry but as an independent recording studio+ this means I will not have to be up
with the competitiveness of the ma5or recording studios and this therefor meaning I will have to invest less
money in the first place which I will have to do anyway.
b! <etail your product/service.
- company which get up and coming artists into their studio to give a wellBpriced professional standard
recording facility8s+ but also giving a rela&ing feeling as you are not literally burning your money away as an artist
if you need more takes than usual.
c! <etails of current competitors
In reading there a >uite a few recording studios already running+ this will mean my business will be new
competition+ therefore by making my hours cheaper for students etc. I think I will be able to take some business
from these already established studios.
d! Ahat makes you different from your competitors?
)y studio is cheaper by the hour than all of the competition in the areaC therefore it will attract more people as
the recording is the same >uality as the other studios. This means the artist is getting more for their money.
e! <escribe how you plan to sell and promote your product/service.
I will start off with promotion on social media sites+ as in like .acebook and twitter. Then I will approach the local
music shops and post adverts up in the windows+ and therefore hopefully attracting musicians who go into the
shop to come and try some recording out in our studio. This is usually free and if not it will be at a small e&pense
to get the flyers made up+ this will be my initial promotion for my business.
Aho are likely to be your ma5or customers+ and what indications have you got that they will buy from you?
I have already got two up and coming bands who have agreed they will try out my studio+ this will also mean that
when I released the tracks from the band it will be the first stuff produced from the studio and the bands have
already said that they will promote my studio through their social media sites as the studio which it was recorded
in.
Ahat knowledge and e&perience have you of the industry you propose to enter?
I have studied music through all my school life and now I am going to take it through college then to uni+
then after I will start up this business fully >ualified and e&perienced in the area of recording and studio
work. $y this time I will have worked with a good variety of different artist therefore the studio I am trying to
create will be and to canter to any artists needs.
Premises' e(uipment an" vehicle re(uirements
Pre!ises
<etails of premises+ freehold or leasehold+ including internal floor space area+ cost of annual rent or
estimated cost or estimated rental and loan finance.
I hope to gain an investment which will enable me to afford a studio or apartment which I can either make a
studio or hopefully buy an apartment which is available to make into a studio.
Plant an" fittings
<etails of present plant and fittings including estimated value and hire/lease purchase commitments.
I will need to invest in the right e>uipment for the studio+ e.g. microphones+ mi&ing desks and sound roofing
for the rooms. -fter this is all purchased and software I will be able to make profit.
-ehicles
<etails of present vehicles including estimated value and hire purchase commitments.
I will not need vehicles.
Start Up )osts
3ow much and on what will you have to spend in order to get started.
To start with I believe I will need around '0 thousand pounds as this is all for the e>uipment and I will promote
the studio through social media sites so it will cost nothing for the promotion side. I will spend around '0000
pounds on e>uipment for the studio in the first place as I will already have an apartment that my parents will let
me use for the time being. This will help me a lot as renting an apartment would cost a lot of money and being
provided one for free would be a great e&tra for my business. "ne of the main things I will have to spend money
on for the apartment is sound proofing as the building was not built for a recording studio so money will have to
be spent here to be able to make it a studio environment.
Investment Re(uire"
.inance re>uired for capital investment in premises+ eg legal costs+ surveys+ alterations+ architects8 fees etc.
.inance re>uired for working capital ie cash to tide you over in the early months of the business!
.inance re>uired for e>uipment
Type an" !a.e of
e)uip!ent
#e//
Secon"
han"
Price
Install
Charge
Carriage
Charge -AT Total
Sure s!01 $2
A34 C5666s
Alan an" heath gs7666
SL lea"s
Apple !ac pro
Logic pro
ne/
ne/
ne/
ne/
ne/
86
poun"s
86poun"
s
0666
poun"s
56
poun"s
2766
poun"s
266
poun"s
#othing
#othing
nothing
Pic. up
Pic. up
Pic. up
596
poun"s
86 poun"s
0666
poun"s
506
poun"s
2766
poun"s
266
poun"s
1:826
Sources of *inance
"wn #esources ...................................................................................................... ;;;;;;;;;26:666;;;;;
$ank ....................................................................................................................... ;;;;;;;;6;;;;;;
"ther 9rivate Sector ............................................................................................... ;;;;;;6;;;;;;;;
Doan/Investment I will invest (0+000........................................................................ EEEEEEEEEEEEEE
*rant ...................................................................................................................... ;;;;;;;;;6;;;;;
"ther 9ublic Sector
Docal -uthority+ 4nterprise -llowance+ etc.! .......................................................... ;;;;;;;;;6;;;;;
Total ;;;;;;;;;26:666;;;;;
-ny "ther Source specify! ;;;;;;;;;;6;;;;
Total <inance (e)uire" 50666