The business plan for playwrights won't be as captivating as a well-written piece for the stage, but you can still have a little fun with it. A playwright seeking capital to launch a theater or production company – or even just put on a show – will need to prepare a document that makes a case for a profitable venture. Grant funding isn't likely to be available to your business, so getting private investment or a bank loan is the most common path that creatives follow. But how do you prove that a play or a new theater company will make money? It's a multi-part process. First of all, you need to develop a set of assumptions about what it will cost to bring a play to the stage (or, at a minimum, what it will cost to get your script for a play finished and purchased). You also need to estimate the revenues from ticket sales, along with any other income the business might derive (concessions, royalties, etc.). The big questions to answer are:
• What sort of plays will you write and perform?
• Who is the target audience for your craft?
• With what frequency will the plays be performed?
• What is the cost of an average ticket?
• Will your business be involved in identifying and training actors?
Any business plan “for the stage†can feel tedious compared to the art of actually writing plays. Performing a market analysis can be a very pedantic and frustrating process, but you don't need to dwell too much on details about market saturation, target profiles, and industry metrics. Cut to the chase and list out who is likely to patronize your plays and what the area market (residents/tourists) looks like. From there, turn your attention to the marketing, your management (and a personnel plan, if you know what labor and assistance you'll need), and the pro forma. Remember that an investor will expect a five-year projection, while a banker will review a plan with only three years. Need help here? The expert group of business plan writers at Oregon's MasterPlans.com can create a custom business plan for your play or theater company in as little as 7-10 days. Call us now at 877-453-2011.
