Trying to make it big in a band is a tough work. It’s easy for musicians to get into debt while pursuing their passions. In fact, when you ask them why they perform live or go on tour, they’d say they do it mainly because they love what they are doing. That being said, money is still an important factor in this endeavour. In the case of small-scale bands, having extra cash on their pockets is a must, especially since tours and live performances can bring unexpected costs. Some of these include broken equipment, breakdowns, or medical attention due to a failed stage dive, among others. For these reasons, they will need quick cash loans with no credit check required.
Actual Costs of a Tour
Going on a tour does not come cheap. Instead of making money, there are bands that are greeted with debts at the end of their tour. Let’s take a hypothetical band as an example. Months before Band A tours the country, its members are already working on their budget. They projected their ticket sales versus the band’s expenses. Here is a breakdown of their outlays:
- Production costs: These include equipment rental, van rental and lights.
- Food and accommodation
- Gas, airfares and parking fees
- Insurance: This is a must!
- Supplies for the merchandise, publicity costs
- Commission of the agency
On the other hand, here’s the itemised list of revenues:
- Ticket sales: The primary source of the profits
- Sales from merchandise
- Sponsorships: These really help a lot of small bands/musicians.
At the end of their 30-day tour, Band A made a profit of $136,000 against their expenses of $148,000. They lost a whopping $11,000! But, hey! Consider these losses as an investment. Because of their outrageous and entertaining shows, they will be invited back to perform on some events.
Planning and Managing Your Finances
The following are some tips on how you can spend your finances wisely:
- Do not include your personal expenses on your band’s expenditures and vice-versa.
- Plan out your budget. Estimate your outlays while on tour.
- Do not forget to pay your own bills before going on tour! Missed payment deadlines will bring you extra fees to settle.
- Always monitor your expenses. Receipts are very important.