Start-Up Business Plan for Venue-Lab, an Online Live Music Booking Company

Abstract

Live music booking start-up company business plan.

With the ever-increasing competition in the music scene, smaller artists without connections or professional agencies behind them may feel lost in the industry with no chance of getting the opportunity to perform or showcase their talent. This thesis aims to solve the problem of the lack of variety and diversity of live performers in the live music scene in Finland and globally. The goal is to level the field and to give the artist the opportunity and the venues the luxury of fast-lining selecting an artist.

This thesis is a product-oriented study for a start-up business called Venue-Lab. Venue-Lab is a live music booking company whose goal is to connect venues and artists in a new way to facilitate live music booking.

The end product is a polished business idea and plan which is ready to be launched.

The thesis explores the current situation of the music industry as a whole as well as the live music industry and its trends to form a firm base upon which the start-up business can lean in further sections of the thesis and future developments. The paper explains the core functions of Venue-Lab using risk analysis, swot-analysis, and different cost structures to elaborate on the feasibility of the given start-up.

Additionally, an interview was conducted with a key player of the live music industry here in Finland to give his view on the business and to give their thoughts on how a business like this could help them. Furthermore, for actual data, a survey was conducted online to get musicians' feedback on the idea.