I posted this on LN as well but I figured there are a few professionals users here who might be able to help out. (cough BillESC and len)
Hey all,
Along with working towards a BFA in theatre lighting which keeps me busy enough I am also presuming a certificate from my school's entrepreneurship program. For the big final project in that I am working on a feasibility plan for creating a rental/production house. I have a few questions and I figured I would be a good student for a change and get real opinions on the matter instead of just BSing. So here we go!
1. In the market these days is it better to specialize and just offer lighting or should I am to be turn key and offer sound as well.
2. For initial inventory, how much should I budget for purchasing this? If someone has time in the next few days I would love a breakout of how much I should spend in what categories. For instance, how many movers should I look to have in inventory and how much would it cost me. Also the thing I by far know the least about, rigging. What do I need to purchase as far as chain hoists and lifts go to start and how much would that cost me? Cable? Dimming? Hazers? Anything else huge I am missing?
3. Is cross renting financially viable solution for most of your gigs when you are starting out, or will doing this keep you from ever making any money?
4. Rental Rates: Is there a rule of thumb for picking rates, I have heard 3-5% of purchase cost before, is this too low?
5. Insurance: I know this is a big one, how much general liability do I want to have and rough ball park, what would it cost?
6. Market: So assuming when I graduate I am free from anything tieing me down and I was to head to any city to get settled and eventually start this enterprise up, what market has the most room for new competition at the moment?
7.Staff: How many full time employees should I try to have and filling what positions, or should I operate off a call list and hire people as needed per event.
If you have anything else that you think would be useful for me to know that would be great. Also if you wouldn't mind send your responses to me via e-mail so I can better document them for the appendix of my paper. (vzeiser /at/ gmail)
Thanks again for your help!
-Victor Zeiser
Hey all,
Along with working towards a BFA in theatre lighting which keeps me busy enough I am also presuming a certificate from my school's entrepreneurship program. For the big final project in that I am working on a feasibility plan for creating a rental/production house. I have a few questions and I figured I would be a good student for a change and get real opinions on the matter instead of just BSing. So here we go!
1. In the market these days is it better to specialize and just offer lighting or should I am to be turn key and offer sound as well.
2. For initial inventory, how much should I budget for purchasing this? If someone has time in the next few days I would love a breakout of how much I should spend in what categories. For instance, how many movers should I look to have in inventory and how much would it cost me. Also the thing I by far know the least about, rigging. What do I need to purchase as far as chain hoists and lifts go to start and how much would that cost me? Cable? Dimming? Hazers? Anything else huge I am missing?
3. Is cross renting financially viable solution for most of your gigs when you are starting out, or will doing this keep you from ever making any money?
4. Rental Rates: Is there a rule of thumb for picking rates, I have heard 3-5% of purchase cost before, is this too low?
5. Insurance: I know this is a big one, how much general liability do I want to have and rough ball park, what would it cost?
6. Market: So assuming when I graduate I am free from anything tieing me down and I was to head to any city to get settled and eventually start this enterprise up, what market has the most room for new competition at the moment?
7.Staff: How many full time employees should I try to have and filling what positions, or should I operate off a call list and hire people as needed per event.
If you have anything else that you think would be useful for me to know that would be great. Also if you wouldn't mind send your responses to me via e-mail so I can better document them for the appendix of my paper. (vzeiser /at/ gmail)
Thanks again for your help!
-Victor Zeiser