Structuring a Band as a Business: Finances
Financial considerations, or rather not considering finances thoroughly, is the downfall of many a great project. Consider your budget carefully and make plans to constantly revise and review it. When thinking about finances, consider pre-tour and post-tour expenses as well as touring budgets. It’s impossible to predict all expenses but understanding income is eroded by expenses, especially tour expenses, is a major consideration. As the band business grows, so will expenses. Often the most expense comes at the beginning of a project considering that is when most groups choose to record.