For any business they have Legal considerations that they have to think about. In this business the main legal considerations are to do with health and safety. For instance, when rigging, everything that is hing up in the air needs two ways of fixing it. This means it will have a clamp attaching it to a bar or truss, as well as a safety bong to keep it from falling to the ground, should the clamp fail.
Also every company should have public liability insurance, so should something go wrong, and someone attempts to sue you, your insurance company will cover it up to a certain cost. So for example Simply Stage is covered up to ten million pounds.
Also if Simply Stage were to play background music, they would have to make sure that the event has a licence to do so, and report all the songs that were played and how many times they were played so that the artists can be paid for doing so.
What makes Simply Stage different to other companies?
Here at Simply Stage, we like to use the best equipment on all events, meaning that every event is professionally done, and the equipment is not a limiting factor. The difference between a small event and a larger event will be the amount of staff and the amount of kit that we bring along, but the same slickness and professionalism will be standard for any event, big or small. Also we aim to be the best price for the job, so if you get a cheaper quote, talk to us and we'll see what we can do.
Other Local Businesses
One very Local company is Recharged Sound and Light. They have a decent sound setup, with Martin Audio speakers however it seems that their lighting setup is fairly dated and it is a relatively small company so Simply Stage would probably be able to run bigger events. They also seem to be a company that is done in someones spare time as a hobby. Also they don't seem to worry too much about cable management, as some of their promotional photos on the website show poor cable management, so they don't seem very professional. They also have a shop where they sell merchandise which to be totally honest, no one will buy and they don't have any type of pricing structure for dry hire of kit.
Then on the other side there is Stage Engage which are a much bigger AV hire and supplier that we would struggle to compete with as they have a massive warehouse of kit that means that they have enough kit to supply events like BBC Radio 1 Big Day Out Festivals. They have two websites, one for big professional events and another one for hire for private parties, where you can hire lights and speakers in different packages for parties. For the packages, we would offer cheaper prices on them. As for the professional side of the business, they don't have an easy way to see what kit they have available for dry hire.
Goal 1-Build Relationships
My goals are that for in a years time, I will continue to build and expand the brand, not working on profit so much but just building relationships with customers, getting repeat bookings etc. Also in this first year I'd make a fair amount of purchases, so I'd make a loss, however when starting a business you will always make a loss at the beginning. This new kit would allow Simply Stage to grow the business and get bigger and better events.
Then in three years time I'd like to be in profit, still expanding the amount of kit at my disposal as more lights would allow for bigger and better light shows, which would make festivals more interested in my services, and we would put everything in, both sound and lighting to make it a complete package. Id also like to continue building relationships, so that we have regular repeats.
Finally in 5 years time id like to be doing big events such as a Glastonbury small stage to really project the business into the future. We would have a truck so that we could transport all the kit over as transport would be a key part of the business.
There are many different companies that I could get a loan from. They all offer pretty much the same service, and you have to specify what length of time you want the loan to be over, and then it will tell you the monthly repayments. Generally the longer the period that you pay it back, the higher the interest rate will be. However, you wouldn't want to get a loan form a company like wonga.com as they charge something like 1000% interest which is ridiculous. Also I could potentially take out a personal loan with a company like Tesco bank which only charge 3% interest which is a very reasonable rate.
It is also possible to get a grant for your business. A grant is a lump sum of money that you are given to invest in your business which unlike a loan, you don't have to pay back. It is quite easy for an artist to get a grant from places like PRS, however for a sound and lighting business it is a little harder as most of the market is dominated by big companies. I couldn't find any grants in particular, however if you were to partner up with a school or something then you could get a grant for doing so.
Car monthly payment-£400p/m
Haze Fluid £3p/L
Insurance £ 25p/m
£14,758- First Year
£5376- Subsequent years
If I were to use Halifax to pay the first year costs off over 4 years then you'd have 48 monthly repayments of £329.57.
I have chosen to run a PA Hire company which will provide Sound, Lighting and Visuals for events such as Festivals, Live Music, Corporate, Theatre, Parties and anything else that our clients want our services for. I have chosen to do this as I already have a business doing this and have wanted to do it for a long time, and I have a fair amount of experience doing it.