Starting a recording label is a big undertaking and an exciting one as well. Though you are very excited about getting your music out there, you are first and foremost a business. Don't forget to approach your new label as a business venture that should be handled just like any other business venture.
You can start by finding a name for your record label. Finding a name may be more complicated than you think. You have to find something that is original and has some relation to the type of music you will be releasing.
Once you have found a name you like, start again. That's right, come up with alternative name just in case you find that someone else already has rights to the name when you go to register with the state department. When you are starting a recording label you must also make decisions about how you will run your business. Each type of business handles taxes differently and runs by a different set of rules. Your options are sole proprietorship, partnership, or corporation. There are recording labels that have chosen each of those options. Do some research to find out which is best for you.
Before you actually get your business license and get busy, there are many things to think through. Developing a business plan can help you to do this. Likely, you are not a businessman, you are a musician. You probably don't know anything about business. You are in luck; there is software available just for you. This specialized software guides you through the entire process of starting a record label. You can develop a great business plan with a little help from the professionals. This software is available online and should be your first step after you decide that you want to pursue your own record label.
A business plan is not only a guide for you; it is a guide for anyone else who will become involved in starting a recording label. Investors, partners, even musicians may benefit from seeing what your plan is and where you are going. When you have direction then you are ready to get your business license and begin to talk with musicians so you can get that first record out.
Your business plan will have led you through all the steps you needed to consider to make your first record a success.
You can start by finding a name for your record label. Finding a name may be more complicated than you think. You have to find something that is original and has some relation to the type of music you will be releasing.
Once you have found a name you like, start again. That's right, come up with alternative name just in case you find that someone else already has rights to the name when you go to register with the state department. When you are starting a recording label you must also make decisions about how you will run your business. Each type of business handles taxes differently and runs by a different set of rules. Your options are sole proprietorship, partnership, or corporation. There are recording labels that have chosen each of those options. Do some research to find out which is best for you.
Before you actually get your business license and get busy, there are many things to think through. Developing a business plan can help you to do this. Likely, you are not a businessman, you are a musician. You probably don't know anything about business. You are in luck; there is software available just for you. This specialized software guides you through the entire process of starting a record label. You can develop a great business plan with a little help from the professionals. This software is available online and should be your first step after you decide that you want to pursue your own record label.
A business plan is not only a guide for you; it is a guide for anyone else who will become involved in starting a recording label. Investors, partners, even musicians may benefit from seeing what your plan is and where you are going. When you have direction then you are ready to get your business license and begin to talk with musicians so you can get that first record out.
Your business plan will have led you through all the steps you needed to consider to make your first record a success.
About the Author:
Musician David Mount, is an active professional accompanist in Southern California, and has taught over 29,000 piano lessons since the mid 1980s. David has a passion for music and Starting a Recording Label. Check his website at http://www.DavidMount.com.
