Business Plans

[Andy P]

How many of you out there A started off with a business plan in place, B keep it up to date and C used it to acquire finance?

Thus far i've built the business up on my savings and profits from operating but have always been keen to move to the next level which would require a cash injection.

Just wondering how you lot got going etc

[yourdj]

I have been the same as you. i think unless your buying loads of kit for stage events, then credit cards and savings are more than enough for the average mobile business. i guess that most members like yourself have bought reasonable kit and in time upgraded like myself. I would say 10 or even 5k is enough to startup with equipment and marketing, although music would probably cost a bit initially. :)

Would be interesting to see if anyone has gone in from scratch with a 30k + budget though :)

[Benny Smyth]

Would be interesting to see if anyone has gone in from scratch with a 30k + budget though :)

That would be me then. :lol:

[Andy P]

Benny how fast did you pay back and do you operate on a full time basis

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Benny how fast did you pay back and do you operate on a full time basis

[Benny Smyth]

Benny how fast did you pay back and do you operate on a full time basis

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Benny how fast did you pay back and do you operate on a full time basis

This is actually a conversation Toby & I had quite recently. I spent about three years saving up from all the gigs I was working because I actually got to the point where I thought :Censored: it, I need to be somewhere considerably better. I did it in two stages, with the first bulk being in the 13/14 financial year and the remainder being invested in this financial year.

So it depends on your perspective - there was nothing to pay back as it was already saved. :)

[Andy P]

I am envious on two counts, 1 the fact that you’re resilient enough to save money as its just one of the many things in life I can’t manager to do. 2 that you have had the balls to go big or go home and its working for you.

It’s a funny story how I started and it was on a very thin budget of around £1500 which as you all know doesn’t get you “industry standard” gear. So I had to rough it for a while until I got the money to upgrade.

It was my councilor who suggested I try something to occupy my mind and get me moving slowly away from a job I dislike and as a way to fix the years of poor money management I’d displayed. She knew about my passion for music and my various skills and seemed to think this was a good fit.

So I went for it and haven’t looked back however now Im considering the step up and what it will mean and what I need to have in place.

[Benny Smyth]

Before I took the plunge, I made of list of what I wanted for kit. I then put next to each item why I wanted it, is it going to make me more money and how is it going to make me more money. You'll find your list gets a lot shorter rather quickly when you do that. If it doesn't earn me more money, doesn't protect what makes me money (flightcases) or doesn't make my life considerably easier (CD to laptop), then what's the point in investing?.

I then did the same for other aspects of the business, like advertising etc.

[DazzyD]

How many of you out there A started off with a business plan in place, B keep it up to date and C used it to acquire finance?

Thus far i've built the business up on my savings and profits from operating but have always been keen to move to the next level which would require a cash injection.

Just wondering how you lot got going etc

A - Yes. Everything I've ever done has started out being planned on paper.
B - Yes. An out of date business plan is no good to anyone. Also, I am constantly reviewing our mission statement which has changed over time but still retains our core values. I set up the business for a reason and that reason is still as valid today as it ever was.
C - No. The business is 100% self-funded. That takes away the extra pressure generated by running a business on other people's money especially in the current economic climate. I haven't overspent on equipment and business costs so if, everything went pear-shaped, it wouldn't be the huge catastrophe that it would be to some business owners.


This is actually a conversation Toby & I had quite recently. I spent about three years saving up from all the gigs I was working because I actually got to the point where I thought :Censored: it, I need to be somewhere considerably better. I did it in two stages, with the first bulk being in the 13/14 financial year and the remainder being invested in this financial year.

So it depends on your perspective - there was nothing to pay back as it was already saved. :)

I think for the average mobile DJ, initial investment is quite small in comparison to other business sectors. New start-ups can usually fund these costs themselves without having to take out much, if any, finance. As was said, the biggest cost is usually music library and the majority of DJs will probably have the basis of a good music collection before they even think about DJing as a career.

[scott23]

My initial business plan changed then changed then changed again lol

I had always been a club DJ- but I made my cash (and i must say alot of it) from building the biggest stages known to man in the summer. Sitting on my ass in the beach all winter in asia getting drunk and djing on in the beach bars for free accommodation and the likes.

I also freelanced as AV technician/ Local Crew and that's when I decided I shall buy my own AV and start a hire company instead of spunkin it all in the sun each year. (seeing the hippys in Goa gradually deteriorating was my wake up call... time to grow up or gonna be like them before I know it)

I was going to buy a stage, but AV equipment takes up less space and you don't need 4 trucks ;-) So initially AV company but everyone wanted a DJ or me to DJ for that matter with the AV. I still want to expand into corporate AV hire, but for the moment its just discos of some sort or another. Basically what im saying is I didnt mean to have mobile disco business- it just kinda happened. Now I have to change my business plan again LOL

[Shakermaker Promotions]

When I decided to take the plunge and go self employed I didn't have a business plan as such. I knew exactly what I wanted to do and that was just to get out there as quickly as possible doing something (I was told) I was good at and enjoyed.
I was working in an office 20 miles from home doing a 10 hour day and on decent money but I just didn't enjoy what I was doing at all. I'd been DJing for a number of years for someone else and I'd actually bought my own set of Pioneer CDJ's and mixer anyway.
When I left the job I had 2 months pay plus all the holiday I didn't use and a small bonus so I was covered and had a bit to spend.
What I should of done is sat down and really thought about how I wanted to go about it all but I didn't. I spent a lot of the money and max'd out one of my credit cards on lots of mediocre kit in reality.
What I should have done is get a business loan and if I could go back to that time then that's what I would do.

My thoughts (rather stupidly in hindsight) were that if I had 3 rigs out I would be able to pay others to DJ for me but I soon learnt that firstly, finding reliable, experienced DJ's was a lot more difficult than it seemed and also that for the majority of the time most of the equipment was sitting in the lock up and not getting used.

I originally set out just to supply Disco Entertainment. I sold all of the other stuff I had bought and upgraded my own kit so that I had quality equipment with quality back up too. Eventually it got to the point a couple of years ago where I had paid off everything and didn't owe anyone anything (different now seeing as I have had to fork out for a new van).

I'd say to be honest that I STILL don't have a business plan as such. I have no aspirations to be absolutely 'minted' if truth be told. I just want to do a job that I enjoy and earn a relatively decent income. That's enough for me. I'm not that interested in purchasing (for example) Dance Floors or Photo Booths when I have enough contacts who supply those and I can earn a commission on them.
The only real change for me since I started is that I am able to supply the likes of Uplighting, Lighting for bands, Small PA's, Race Nights and Projection. The reason being is that if I am going to do this job then I want to make it as varied and as enjoyable as I can. If I was just doing Discos week after week then I could possibly get bored and that worries me slightly because I don't want to do anything else as a job.

So, I guess I am not that business minded really. I've got a very small operation going where I am the main focus (no ego intended). As long as I am working constantly then I am happy. I do get double and sometimes treble bookings and I can cover those via networking with DJ's I can use regularly. I'm happy with that. I don't have any intentions to have a team of DJ's out working for me. It's just the way I am.

[Tom]

I'm currently in the process of starting my business plan now. Was going to start a new thread about this but thought I might comment here instead.

Currently plan to be 100% self funded with no intention to take a loan of use any form of credit card. I have time on my hands to get the money together so I'm not in a rush, but I would like to be up and running within 12 months, hopefully by the end of the year, giving me time to get everything put in place.

Equipment wise, I do plan to buy the best I can afford, within reason of course. We all want the best equipment out there but it might not be best suited to our needs so thats were sitting down and working out, do I need this, will I earn more ect, which has been mentioned already.

I do plan to go at this full time instead of being part time years a go. Build a solid core business plan from the start, equipment, music, advertisement and then engaging with other more estabaliahsed DJ's within my area. Not to pinch their work, but in fact to help them, who would in turn help me get back on my feet, bring in the much needed funds and then get my own work.

I used to spend a lot of equipment and that was my downfall! New equipment coming out all the time and I just had to have it. Lesson learned and now buy the kit I need, not what I want. Keep the costs of running the business down to a minimum which in the long run will be better on my pocket.

To me there are pro's and cons of being self employed and running a business.

I guess the pros for me would be


staying at home and only going out when needed
look after the kids (when the missus and I have them, which keeps child care down to a minimum)
maintain the house, keeping it clean and tidy (which don't happen due to both my missus and I working shifts and long hours)
be able to go to the gym and train when it's not busy (pet hate of mine is a busy gym!)
be able to speak to clients without having to make time at my current work during lunch (could loose a potential client)
research music and other potential markets enter
work on other business ideas to bring in income


Cons would include

lack of social life due to keeping spending to a minimum
being stuck at home


I'm sure there are other cons, but the pros seem to outweigh the cons quite a bit.

[Shakermaker Promotions]

Looks like you have a decent plan for your....er, plan!

With reference to the Pro's and Con's...

You mentioned that one of the Con's could be lack of social life. I don't look at it like that at all.
I look at it as the weekend is where I do all of my work. I've had lots of weekday bookings and they are bonuses as far as I am concerned but it's predominantly the weekend where we do what we do and earn the money. That means that there is plenty of time to socialise if you want to during the week. I joined a darts team about 4 years ago and so that means Tuesday night is my night for socialising. That may not appeal to many....I mean, a Tuesday night? Not very glamorous is it but I look forward to it after working all weekend.

Add to that, sometimes you may not have work on a Saturday night for example. They are quite a rarity in this business as you know so when a free one does pop up it's worth making the most of it.

The Pro's definitely outweigh the Con's in my book.

[Tom]

Looks like you have a decent plan for your....er, plan!

With reference to the Pro's and Con's...

You mentioned that one of the Con's could be lack of social life. I don't look at it like that at all.
I look at it as the weekend is where I do all of my work. I've had lots of weekday bookings and they are bonuses as far as I am concerned but it's predominantly the weekend where we do what we do and earn the money. That means that there is plenty of time to socialise if you want to during the week. I joined a darts team about 4 years ago and so that means Tuesday night is my night for socialising. That may not appeal to many....I mean, a Tuesday night? Not very glamorous is it but I look forward to it after working all weekend.

Add to that, sometimes you may not have work on a Saturday night for example. They are quite a rarity in this business as you know so when a free one does pop up it's worth making the most of it.

The Pro's definitely outweigh the Con's in my book.


Thanks. Trying to do things better and by learning by my mistakes. :)

I can see where you're coming from regarding lack of social life. I guess with possibly more time off during the week that will give me time to make time to either do something with others who are not at work during the day or plan something for the evening.

Agreed most of the work would be on Fridays and Saturdays.

The pros so outweigh the the cons thinking about it more. Would really like to meet up with others and talk more about the business side of things in person, but got a feeling many might not be so forthcoming to help someone who is in competition.

[DJColsie]

I joined a darts team about 4 years ago and so that means Tuesday night is my night for socialising. That may not appeal to many....I mean, a Tuesday night?


I understand where you're coming from. I have played for the same team in a Wednesday night pool league for the last 8 years and really look forward to it. Not too serious, a couple of beers with friends (possibly the only alcohol I have all week) and the football is always on.

[Jim - Scotland's Party DJ]

Never had a specific business plan but did have an idea where I wanted to go and currently happy with where things are.

if I did have a business plan I'd still be in a similar situation so as far as vision goes it's a moot point.

Cash wise my 9 to 5 pays well and I have a good bit of dough still stashed away from a stint I did working in the tax free haven of Saudi Arabia so have never had to rely on credit or loans.

[Shakermaker Promotions]

I understand where you're coming from. I have played for the same team in a Wednesday night pool league for the last 8 years and really look forward to it. Not too serious, a couple of beers with friends (possibly the only alcohol I have all week) and the football is always on.

Thank you. That's exactly what it is....a good night out with mates and a few beers and not worrying about having to get up the next morning.
I could of course go out and get a job during the day but I really don't want to. I am happy doing what I do and it's good enough money that it means I don't have to.
Yes, sometimes there is a bit of boredom but I take my dogs out and keep myself busy with band stuff and podcasts as well as the usual day to day stuff of answering the phone and replying to emails.