Are you planning to throw a music festival? Looking for a set of great tools to help you plan?
Throwing a music festival and being profitable is incredibly difficult to do in the first couple of years, but it isn't impossible. We know first hand as we've thrown festivals of our own. We've lost a ton of money in the early years while trying to perfect the system, and the good news is we've finally figured it out!
One of the keys to throwing a profitable music festival, or at least not losing money in your first year, is to plan and budget appropriately. Making sure you remember and think about each and every expense prior to incurring it can not only be a challenge, but also the most critical factor between success and failure next to booking the right lineup. Things are always great until you realize you forgot about a $20,000 expense, or that pesky permit that's going to shut down your event.
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