Owners must be prepared to alter their routines based on who’s hiring them. You should be knowledgeable about paintball and able to build interesting courses and service the equipment. Startup costs are moderate (around $30-60k), depending on the type of bus your purchase, but there is the potential for six-figure profits in your first year. You have found the perfect business idea, and now you are ready to take the next step. Entertainers should consider experimenting with different types of acts and audiences to appeal to more people. Dinner theater businesses are best for those entrepreneurs who have a wide range of interests and talents, including theater, restaurant management, business, and marketing. There are several types of insurance policies created for different types of businesses with different risks. You can acquire your EIN for free through the IRS website, via fax, or by mail. General business acumen and snorkeling knowledge and experience are useful. Performers will usually charge a specific fee either per hour or per show. Owners and employees should have an inherent love of entertaining to thrive. STEP 1: Register your entity type. Startup costs for this business are around $300k, but go kart businesses can make between $500-700k per year. College majors that offer valuable skills for a would-be party planner include business management, marketing, and hospitality management. One of the greatest resources an entrepreneur can have is quality mentorship. Entertainers don’t necessarily need to hire anyone initially unless they truly don’t believe they can handle the more tedious parts of their business, such as collecting money from clients and staying on top of various commitments. Once the entertainer reaches critical mass, they can either hire an assistant or additional performers to meet the demand. Music Business: Entertainment Business: By Theresa Barba. From staff negligence to misinterpreted technical glitches, little slip ups can cost the business a prospective customer. If you have employees have them fill out Form I-9 PDF (PDF) and Form W-4. Recommended: Read our guide to find the best small business credit cards. There is solid growth potential for this kind of business, as you will inevitably bring in repeat customers and word of mouth will be a free source of marketing. Check out your local secretary of states website. Starting an inflatable bounce house business is a great idea for people who are ok with working on the weekends, who are physically capable of setting up and transporting the inflatables, and who enjoy working with children. You can increase your profits if you purchase additional units and hire staff to maximize the number of parties you can book in one weekend. Without a doubt, having enough capital and access to resources may pave an easier path for anyone who might want to venture into a business. Having a support network in place to turn to during tough times is a major factor of success for new business owners. Themed parties and niche activities have been growing in popularity, and axe throwing is a perfect fit for this demand. If you live near the water and have a passion for working with people and participating in water sports, you may consider opening your own snorkeling business. When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. Additionally, a strong business mind and willingness to learn will contribute to your success. The entertainment industry is very vast and has a whole lot of business opportunities that one can engage in. Startup costs can be moderate-to-high depending on the area and cost of renting land, but they tend to be around $50k. Startup costs will depend largely on your location, size, and facility, but they require a minimum of $100k. This is also the time to look for angles that may not be readily apparent. A CO confirms that all building codes, zoning laws and government regulations have been met. Anchoring or event hosting is a highly specialized job. DECIDING ON A BUSINESS NAME. Entertainers set their rates based on not only their time but also any business expenses they may have, such as supplies, employee salaries, etc. Learn how to start a snorkeling business. If you don’t have a truck loan payment and average about 40 parties per month, your annual profit could be over $100k. This separates your personal assets from your company's assets, which is necessary for personal asset protection. Your startup costs will be high since you will need a large piece of land and a good deal of specialized equipment. Select your state below for an in-depth guide on completing each of these steps in your home state. There is a decent potential for growth if you expand your operation and offer additional activities and services to your guests. The land will be your largest cost, followed by insurance and equipment, so if you already have a suitable property this will lower your costs a great deal. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses. Roller skating rinks are very popular activities for families and groups of friends. Get the Bplans newsletter: Expert business tips and advice delivered weekly. Learn how to start a bowling alley business. You can even open your facility up to summer camps. If you have a passion for arcade games and enjoy a loud, busy, and fast-paced work environment, an arcade business may be a great venture for you. According to Jorge, one of the first steps to starting your own business is through self-examination. However, the potential for six-figure earnings within the first few years is also strong. After a major renovation, a new CO often needs to be issued. If you are a gifted storyteller with an understanding of local, regional, or even worldwide ghost stories, then starting a ghost tour business may be right for you. The mechanical skills to repair and maintain games can help you cut down on overhead costs. Our top 30 business ideas for teens include ideas for kids who are looking to make a little money after school, as well as those with a desire to start something from the ground up and watch it grow. Owners should be knowledgeable about hookah, how shisha is smoked, and how hookah bars are run. A better business structure for a production company is a Limited Liability Company, or an LLC. There is more to starting a business than just registering it with the state. Rage rooms are a relatively new phenomenon and are great business ideas for entrepreneurs who have the skills necessary to create an interesting experience for their customers. There is sizeable growth potential, depending on location and your desire to expand. Whether you’re looking to build an online empire or earn a little money on the side, one of the best things about owning an online business is having the ability to work as much or as little as you want -- from whatever location you prefer. Although haunted attractions are most popular around Halloween, these businesses can actually be profitable year-round with the right business model. This type of business targets families who have active children and who have a bit of disposable income to take their children to these kinds of parks. Think back to when you were a kid to help you create the ultimate entertainment business that will delight parents and kids. You can start your business for a few thousand dollars and your earning potential can exceed $75k after the first few years. Despite this, your earning potential is also high depending on your business model. A good performer can turn a dull gathering into the place to be. Startup costs vary greatly depending on location and your business model, but you have the potential to earn quite a bit in this booming industry. That being said, you stand to make consistent money once your business is up and running. Entrepreneurs interested in starting a skydiving business should be knowledgeable and passionate about the sport and have the basic business and marketing skills needed to run and promote this business. Most karaoke bars serve alcohol, which will likely be the largest source of profits. Direct costs are usually administrative (e.g., Wi-Fi, website domain-name, advertising. Depending on the location and popularity of your tour, there is the potential to earn over $100k as your business becomes more established. Identify local competitors and determine if there is a void that you can fill. If the owner is the performer, they should be willing to work on their craft constantly and change it according to audience expectations as time goes by. Starting up a media and entertainment production business doesnât only mean to start the production house for producing a variety of different items to simply earn the capital, but it requires a concentrated plan ⦠If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?. Entertainers should have some level of expertise before getting started. And hello, you are ready for business. It's really easy and free! As diners seek out more interesting and creative ways to spend their nights out, the right business model and pull can ensure a great deal of success in this industry. A comedian doesn’t have to be equal to Jerry Seinfeld to strike off on their own, but they should have enough of a following to justify a transition. You can search for an available domain below: Starting a duckpin bowling alley business is a great choice for people who have a love for bowling and enjoy this unique version of the sport. People then pay you to play games when you pull up. As your popularity grows, you can consider expanding to multiple locations. Review all building codes and zoning requirements for your business’ location to ensure your entertainment business will be in compliance and able to obtain a CO. 9 Steps to Start your Entertainment Business, Read our guide to find the best small business credit cards. A business website allows customers to learn more about your company and the products or services you offer. With the right business model, you can recover these costs quickly and earn $5-10k in profits per month. If you operate a sole proprietorship, you might want to operate under a business name other than your own name. Archery has been gaining in popularity in recent years, especially among families. Specialized training and experience are not necessary, but knowledge of the sport will provide a strong advantage. Get more ideas with our Business Ideas Generator. Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Using dedicated business banking and credit accounts is essential for personal asset protection. A party bus business can be a great idea for entrepreneurs who understand event management, enjoy working with people in a party atmosphere, and are comfortable working late nights and weekends. Startup costs are typically high (over $50k) and ongoing insurance premiums can also be pricey. With the right business strategy, there is the opportunity to make well over $100k per year. When starting an entertainment business, you should determine what kind of entertainment section you would like your business to specialize to. Most production companies are initially LLC's. Part of being a performer is creating a need for your services in a community. DJA will own and control the masters (master copies), copyrights and licenses of its pro⦠There isn’t a large growth potential for this business, though with the right marketing and quality service you establish yourself as the go-to place for anyone who wishes to relax and enjoy shisha. For information about local licenses and permits: An entertainment business is generally run out of an office. Most businesses are required to collect sales tax on the goods or services they provide. We’ve gathered necessary and useful information to help you succeed both professionally and personally: If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant. It takes money to make money and, in the film business, it can take a lot of money to make money through a film. Startup costs and earning potential for your wine tour business will vary greatly depending on your business model and if you partner directly with any vineyards. Sign up at the Business Center to access useful tools for your business. Finally, social media (whether via paid ads or organic content) can make it easier for people to find and share information about the company. Startup costs for duckpin bowling alley businesses are quite high (around $45k per lane) when you consider the cost of your location and the work and equipment needed to design and build a fully functional bowling alley. Websites must be professional but personal enough to attract the desired audience base. In order to register for taxes you will need to apply for an EIN. Business owners should have formal training and a good deal of experience in whitewater rafting. Your earning potential will be low at first but can reach $20-30k once you build up a solid client base. The bulk of the work of an entertainer is their actual time spent on stage, but an owner also has to be willing to devote time to advertising and marketing their services, as well as organizing the administrative end of things (e.g., payments, scheduling, etc.). Entrepreneurs who love outdoor sports and promoting teamwork may consider opening a paintball field. These businesses are most successful in cities and towns that have rich histories in the dark and mysterious. This helps you separate personal and business expenses by putting your business' expenses all in one place. Securing a web domain and creating a quality website is important for the overall success of an entertainment business. I started when I was 4 years old, however my family never thought being a singer was an "occupation." Once established, though, with the right location, marketing, and services your business has the potential for great success. Entertainers may be more in demand than they think because they can perform anywhere from a school to a home to a business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing. Most won’t need formal training to do what they do, but it helps to have logged plenty of professional hours mastering different types of routines. Traditional paper flyers may be old-fashioned, but the right one could catch the right eyes. Determine Your Event Planning Market/Forte. However, with creative marketing and quality services, your business has the potential to expand locally, regionally, or even nationally. This option can also let you provide ⦠For example, you start a (n) Entertainment business and you call it "Ultra Entertainment Co". Entertainment is creating of products or providers of services designed to inform or entertain consumers including movies, music, consumer electronics such as TVs/stereos/games, sports facilities and events, recreational products or services. These 40 side-hustles satisfy a range of interests and can easily turn into full-time careers. Opening a challenge course is a great idea if you are looking for a new business opportunity and you love the outdoors. It is important to set up your entertainment company as a LLC and your publishing company as C-corp. There is also decent growth potential, with the possibility of adding additional tours or expanding into nearby - or even remote - cities and towns with their own unique stories. A karaoke bar is an excellent business idea for entrepreneurs who enjoy working with people and have a good knowledge of music. Learn how to start a bounce house business. E3 Playhouse is a start-up combined entertainment venue offering live music, dancing, music and dance lessons in a nightclub restaurant format. The list should not be construed as all-inclusive. A CO confirms that all building codes, zoning laws and government regulations have been met. These courses can appeal to a wide range of individuals and groups looking for anything from military to psychology to corporate training. Located in Miami, Florida, the company will become highly profitable through the sale of pre-recorded music product, and ancillary profit centers. Selecting a business name is one of the first steps of starting a business. Listed below are links to basic federal tax information for people who are starting a business, as well as information to assist in making basic business decisions. This can be an especially profitable choice: fields that are a good fit for consultingâsuch as law, accounting, or management analysisâhave the highest earning potential for self-employed workers. It's fast and easy, with LivePlan. Hookah lounges have increased in popularity over the last several years. Marketing needs will vary based on the neighborhood an owner serves. It involves a wide array of skills and much more responsibility. Haunted attraction business owners need to be well-rounded individuals with a diverse skill set. If you are an entrepreneur who enjoys shisha, you may consider opening a hookah lounge. With all of the available entertainment in the comfort of people’s living rooms, it’s the performers job to connect with their audience so they understand that it’s not always as fulfilling to turn on a TV as it is to have a live person in front of them. There are a wide variety of courses you can offer and each will require you to have a different skill set. Actorâs Photo Portfolios. Refine your idea. Roller skating rink owners should be good with people and able to create a safe atmosphere for skaters of all ages and abilities. You should also be comfortable working late nights and weekends. Professional Blogging. This type of family-friendly activity is becoming more and more popular and business owners will most likely have the opportunity to expand their franchise once they make a name for themselves. Laser tag businesses are quite popular with entrepreneurs who love working with people, enjoy high-energy work, and want to start a business in a field they are passionate about. You will also need to understand and abide by all relevant tobacco laws. Paintball Facility Business Plan Jungle Zone Paintball will open an indoor/outdoor paintball gaming facility and will sell and rent equipment and supplies. In business law, this is referred to as piercing your corporate veil. For any business, a business plan is the first thing you have ⦠Business Insurance protects your company’s financial wellbeing in the event of a covered loss. Make a business plan for your shop. Learn how to start your own Entertainment Business and whether it is the right fit for you. Consulting work allows you to leverage your existing professional experience, rather than starting a business from scratch. For example, you can simply begin as DJ before starting to offer clientsâ live music if your business would be centered on party music and gatherings. Indiana law requires that the name of a Corporation, L.L.C., L.P., and an L.L.P. Or they can start doing private lessons for more dedicated people. Business owners should have a commitment to the game and great interpersonal skills. Startup costs can vary considerably depending on your location and set up. If your place of business will be renovated before opening. Business owners will need an understanding of facility maintenance and auto mechanics, and the ability to maintain high safety standards. Your business stands to make a decent profit, though the margins are highly variable depending on your business model and the number of customers. These businesses work best in cities where there aren’t any trampoline parks already, as one park typically serves an entire area. Some areas may already be saturated with many whitewater rafting companies, but there are always lesser-known areas to set up your business and attract customers. The person who chooses this business must either love to be in the spotlight or have a knack for spotting people with talent. Basic business sense will help you succeed, but a love of the sport is the most essential ingredient. Performers will also need to factor in how much it will cost for them to maintain/replace their equipment. Depending on the type of bus you purchase and how you equip it, your initial startup costs can be high. In addition, owners will need to maintain strict safety policies and be aware of their liability as a business owner. There is solid growth potential in this industry, especially if you choose your location wisely. It’s ultimately a luxury good no matter how you look at it, so it’s about showing people that their dollars are well spent. Video editing is another lucrative business venture for anyone to take advantage of. Startup costs are around $115-250k for this business since it requires a fairly large facility and specialized equipment. Ultimately, that flexibility can translate to better growth potential. Starting a bus tour business is a great choice for entrepreneurs who want to educate their local community and tourists about points of interest or historical spots around town. 1.1 COMPANY & INDUSTRY DJA Records Corp. (DJA) will capitalize on the growing entertainment market across the world through the production and promotion of high quality entertainment. Start your own business plan. You can start an LLC yourself and pay only the minimal state LLC costs or hire a Business Formation Service for a small additional fee. If you wish to increase your profits even more, you may consider adding additional DJs so you can book multiple events each day. Re-read your business ⦠Owners should ideally be able to convince their employees that the day-to-day business drudgeries aren't worth becoming their own boss. The cost is usually around $100.00 per company. If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage. Other steps may be appropriate for your specific type of business. It also makes accounting and tax filing easier. If there is nothing like what you’re offering in an area, then work out a reasonable hourly rate that you believe people in the area would be willing to pay. Choosing the right name is important and challenging. Most businesses can make between $20-50k in their first year and they have the potential to reach six-figures. Consider your talents and compare them against in-demand entertainment services. Obtain financing for your business. There is a good deal of competition in this industry, so a strong business sense and marketing experience can help set you apart. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO). You’ll need to be adept at working and communicating with a wide variety of people, especially teenagers. Those looking for additional resources may consider joining the World Waterpark Association. It is generally the landlord’s responsibility to obtain a CO. Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a entertainment business. Start planning. An Entertainment Business can be started comfortably from the walls of your house, but have it in mind that the building you decide to start from will have a big impact on your business. There is decent growth potential for this line of work as long as you have a solid business model and offer great service to your clients. Good wine tour business owners will need a thorough knowledge of the wine-making process and the history of the region and vineyards they are visiting. There is potential for growth, as inflatables have become very popular additions to children’s parties and events. Startup costs are around $3k minimum, depending on how many houses you wish to purchase, and the earning potential will be around $188/week per bounce house. STEP 1: Register your entity type. Realistically though, an owner should set their rates based on their direct competition. Learn how to start a batting cage business. Have a Professional Service Form your LLC for You. For those with a passion for baseball or softball, this business can be extremely rewarding. Startup costs are very high, typically in the low seven-figures, but business owners across the country quite profit margins of 25-39%. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits. Okay, letâs say youâve been working in corporate ⦠business - Starting an Entertainment Business - Entrepreneur.com. This line of work is very specialized and ideal for who with a love of this adventurous activity. Once you’ve made a name for yourself, there is good potential to expand to additional locations. Businesses operating out of a physical location typically require a. If you are thinking of opening a family-friendly entertainment business, a roller skating rink can be a great choice. Startup costs for skydiving businesses are typically over $150k unless you already own a plane, and business owners need to be able to sell their business plan to a local airport, investors, and the community. You will also need the appropriate license to operate your bus or van. Startup costs are between $10-50k and will often depend on your location and ability to source well-priced supplies. If choosing to hire performers, an owner will need to catch people at the beginning of their careers before they turn into the competition. A strong passion for the subject of your tours will be your most valuable asset in this business. Startup costs are high ($50,000 to $75,000 for the game theater plus the equipment to haul it), but so is the earning potential. Sample Business Plan for Promotional Products. Certain state permits and licenses may be needed to operate an entertainment business. Entertainers can typically get started without a lot of capital. From musicians to clowns to magicians to comedians, an entertainment company specializes in supplying performers for everything from birthday parties to company retreats. Start your own wrestling entertainment business plan. This is the most common coverage that small businesses need, so it’s a great place to start for your business. While starting out, there are hundreds of things that can go wrong. Business owners should have a great knowledge of music and the ability to read the room and select music appropriate for the mood and event. Learn how to start an axe-throwing party business. BATTING CAGE BUSINESS. Earning potential will vary depending on several factors, including location, the number of buses in your fleet, and the popularity of your tours. An LLC is a hybrid business structure in that is flexible regarding things like taxes and legal liability and allows for partnerships. Most people will begin offering their services on a part-time basis to understand more about the demand of performers in their area (and hopefully stoke the fire for demand as well.) However, depending on your business model, it is possible to make a good profit. If you are a very good portrait photographer, you can star the actorâs ⦠If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance. Mobile bartending services are great business ventures for people who are knowledgeable about the bar and restaurant industry and who are seeking evening and weekend work. You may choose an indoor or outdoor facility, or one that combines the two. The goal is always to make clients happy and be memorable enough to stand out in their minds. to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued. Simple skills are required to start this business. Starting a go kart business is a great idea for entrepreneurs who have a passion for automobiles and enjoy working with people. While most companies will specialize in one particular type of performer, it's also possible to employ a wide range of people with different skills to meet a variety of needs. In addition, it’s always helpful to have basic business and marketing knowledge as well. Successful mobile bartending service owners have a good mind for business, know how to bartend, and possess excellent people skills. Who they end up working for will depend on the entertainment company’s rates, but entertainment companies serve enough needs in a community for there to be some flexibility in the business model. This line of work is quite flexible, though the busiest hours of operation are in the evenings and on the weekends. Starting a helicopter tour business is perfect for people who already have their helicopter pilot’s license and are looking for a new business venture. You can get financing through a bank, investors, or perhaps even stock holders. If you're thinking about starting a business, you likely already have an idea of ⦠Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Learn how to start a helicopter tour business. I was always encouraged to get a "real job", and was told only people who have "connections" get into show business⦠If your business sells goods, whether online or offline, and your state requires you ⦠A clear plan is essential for success as an entrepreneur. Location can make or break a business, and your location should depend on the type of entertainment you want to produce. Start an entertainment business by following these 9 steps: You have found the perfect business idea, and now you are ready to take the next step. The cost is usually around $100.00 per company. Startup costs are around $40k and average profits are around $150k. Anchoring Service. You can work with an established DJ as an assistant or you can go by volunteering to DJ a friendâs parties or other parties. Websites like NextDoor or Craigslist also offer community-specific information. Another notable insurance policy that many businesses need is Workers’ Compensation Insurance.