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I want to become a profesional Music Producer, and one day have my own record label.

Veteran

Andrew Garcia Baltimore, MD

I DJ/Music Produce in the D.C. Baltimore area including venues like Power Plant Live, Soundcheck D.C., and Merritt Clubs Pools. I get out in a year and I just opened my first LLC for Music Production to help me with DJing weddings, big venues and events using my own equipment, and tax purposes. I want to become a known artist through my music, but while doing so, build my own business so when I get out in Oct of 2019, I can us my GI bill and focus on my LLC and use it to DJ full time. ( I DJ almost every Thurs-Sun for the past 2 years). I Just started ghost producing and making tunes for small artists and hoped that would pick up as well. Hope to hear from someone willing to help!

Andrew

18 September 2018 2 replies Small Business

Answers

Advisor

Scott Gagnon Winthrop, MA

BRAVO for your bravery!! We are of kindred spirits. Please read my profile (the last paragraph is most relevant to this response). While I hold down a technical mgmt day job, I am also a Composer, Musician, Recording Engineer and Producer in the Boston area, and I am an owner of a pro level Production/Project recording studio.

Registering as a business and acquiring a Federal tax ID will give you the ability to deduct your music gear purchases, expenses traveling to shows as well as supplies (office, cables, CD's, etc). Understanding Copyright laws, ISRC codes (for royalty payments) performance rights organizations (BMI, ASCAP and SoundExchange) is very important. Streaming media distribution and opportunities are also important. The "business" of music is overlooked by many who desire to be in the music industry. It is hard work but very rewarding work (not just financially). PM me and we can continue this talk. Be brave, be bold. Music is the universal language every human speaks.

20 September 2018 Helpful answer

Advisor

Konstantin Cherco New York, NY

Andrew,

Thank you for the great question! I can't speak to the particulars of the music industry but as you are looking to start your business, I can suggest a few tools for you to use on that front. There is a great small business toolkit here:

http://www.smetoolkit.org/

You can find a lot of great business plan templates as well as advice on marketing and operating your business. If you haven't already, creating a business plan is a great exercise that will force you to think about the next steps and put down some goals on paper. I know the music industry has its own particular aspects but I think a good business plan is needed in any industry. I hope this helps!

Best Regards,
Konstantin

20 September 2018 Helpful answer

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