Professional Documents
Culture Documents
Business Plan
USER
PLAYBEAT MUSIC PRODUCING COMPANY
TRISHAL,MYMENSINGH.
AK MUNNA
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Submitted To:
02 November 2021
Assistant Professor
Trishal, Mymensingh
Dear Sir,
Here is the report that we have prepared on the topic of Business Plan on Music Producing Company.
We have tried our best to complete our project successfully and tried to follow your guide while
preparing this project. This project will help us to stand a business on the basis of this report. Thank
you sir for your guideline and supportive mentality to generate a new business plan. It is also a new
experience for us. It would be arduous a to us to complete this project without your guideline.
If you need any information about this project, please inform us. We would be delighted if the report
contains entire information about our business plan.
Your obediently,
ID No :19132618
Executive Summary :
→ My Business Overview
The company will specialize in the production of music with quality sound and lyrics that will
our target audience will find interesting to hear. It is no longer a news that the music industry is
highly profitable. Because of its profitability, a lot of people into are venturing music in order to
make good money. However, many of the music production companies we have around are not
standard enough to help these intending musicians produce good music that people will appeal
to the people. And the few music production companies that are standard and capable of
helping these intending musicians always have too much to handle. This is an indication that
there is a hungry market for the business we are about to start.
We will organize our business in such a way that we are able to meet the demand of our target
market. Our focus is on talented upcoming artists who we will help produce quality music that
will outwit the seemingly best in the music industry. We will make sure that our company is
highly standard and well equipped with quality equipment that will help us produce good music
for our clients. Our workforce will also be selected from the best in the industry who have all
the necessary expertise and experience that our music production company needs to stand out
from the crowd and become unbeatable.
Beside Student, I am musician and a music producer (Learning) , over the past 1.5 year I have
Completed in various leading music production Course from India.
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On the other hand, Nowdays, I become a little business analyst & specialized in music
production to grow my businesses into formidable brand. I have consulted for more than 20
music production companies all through Bangladesh & India by Online platform.
They Helps a lot to learn Music production last 1.5 years.
This will be My dream Music Production Company.
→ Vision Statement :
The vision of "PlayBeat Music Production" Company is to build a solid reputable for producing
high quality music and raising our musicians to be able to outwit the best in the industry.
• My vision is to become one of the top 10 music production company in Bangladesh.
→ Mission Statement:
PlayBeat Music Production" Company is to always come up with innovative and outstanding
concepts that will help us to beat others players in the music industry hands down.
• My mission is to build a music production company that will become the number one choice
for both music artists and publicity and advertising agencies especially those that are involved
in the production of jingles and soundtracks
"PlayBeat Music Production' Company intends to offer a wide range of quality products and
services that will help us serve our clients well. Some of our products and service will include:
• Music Production
• Music Recording
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• Sound Recording
• Sound Production
• Production of Advertisement Jingles
• Production of Movies Soundtracks
• Sales of Musical Equipment
• Shooting of Musical Video.
→ INDUSTRY ANALYSIS :
√ Industry Size : As a Student , I am going to start this business in small category But in
Future I will make it large & become Top 10 Music producer Company in Bangladesh. Besides
Studying I can run this but it can be a large subcareer of Mine.
Revenue Forecast:
One thing is certain when it comes to music; music never dies and the demand for good music
will continue to grow. This goes to show that any music production company that is known to
always produce good music will continue to attract talented music artists and that will sure
translate to increase in revenue generation for the business.
I am well positioned to take on the available market in Bangladesh and I am quite optimistic
that I will meet my set target of generating enough income / profits from the first six month of
operations and grow the business and my clientele base beyond Bangladesh and even the
global market.
I have been able to critically examine the music production market and i have analyzed our
chances in the industry and i have been able to come up with the following sales forecast. The
sales projection is based on information gathered on the field and some assumptions that are
peculiar to startups in Bangladesh
Below is the sales projection for PlayBeat Music Production Company, it is based on the
location of our business and other factors as it relates to record label start – ups in Bangladesh
N.B: This projection is done based on what is obtainable in the industry and with the
assumption that there won’t be any major economic meltdown and there won’t be any major
competitor offering same music production services as i do within same location. Please note
that the above projection might be lower and at the same time it might be higher.
My Business Structure:
The fact that i set to compete with other leading music production companies in Bangladesh
means that I must build a business structure that can support My business goal. i will ensure
that I hire people that are qualified, hardworking, creative, customer centric and are ready to
work to help us build a prosperous business that will benefit all the stake holders (the owners,
workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior
management staff and it will be based on their performance for a period of five years or more
as agreed by the board of trustees of the company. Below is the business structure that I will
build for my PlayBeat Music Production Company;
• Responsible for recording and producing music and jingles for music artists and clients
• Part of the team responsible for selecting the songs that will be promoted and the songs that
will be sold as singles.
• Help decides the order the songs will play in throughout the album (i.e. the songs’ track
numbers).
• Responsible for choosing top notch album cover for music artists
• Handles any other responsibility as assigned by the Chief Executive Officer
• Responsible for handle any sound related job for the company; helps achieve certain specific
sounds or feelings to portray through that matches with the lyrics.
• Responsible for mixing and producing beats and sounds for our clients; mix the songs into the
final version for the music album.
• Part of the team responsible for selecting the songs that will be promoted and the songs that
will be sold as singles.
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• Responsible for overseeing the smooth running of HR and administrative tasks for the
organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new
products.
• Ensures operation of studio equipment by completing preventive maintenance requirements;
calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Designs job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies,
Procedures and Processes
• Facilitates and coordinate strategic sessions.
• Works directly with clients in a non-advising capacity, such as answering questions, scheduling
appointments and making sure all training concerns are properly taken care off
• Oversees the smooth running of the daily office activities.
• Once the album is ready, then the marketing team will go out to market and promote the
album
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies business opportunities; follows up on development leads and contacts; participates
in the structuring and financing of projects; assures the completion of music projects.
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• Responsible for supervising implementation, advocate for the customer’s needs, and
communicate with clients and music artists
• Develops, execute and evaluate new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps increase sales and growth for the company
Accountant :
• Responsible for preparing financial reports, budgets, and financial statements for the
organization
• Provides managements with financial analyses, development budgets, and accounting
reports; analyzes financial feasibility for the most complex proposed projects; conducts market
research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or
more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the
client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s
interest in the company’s products and services
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• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional
campaigns etc. to ensure accurate and helpful information is supplied to clients when they
make enquiries
PlayBeat Music Production Company is uniquely qualified to succeed due to the following
reasons:
• Our business model will be profitable if I can grow in the JKKNIU area. If any of My artists will
my regular customers of Music composing or become a Celebrity Singer then we will be even
more successful.
MARKET ANALYSIS:
• Market Trends
Entrepreneurs that are venturing into the music industry are coming in with creativity and good
business skills. The fact that revenue is nose – diving in the industry does not in a way stop
some music production companies from declaring profits year in year out.
The trend in the music production industry is that most music production companies are trying
as much as possible to recreate themselves on a regular basis and also to be on top of their
game. This is so because it is easier to find music mixer or music production software
applications that a rookie can make use of to produce good sound.
→ My Target Market
When it comes to music production, there are no exemptions to who you can market your
services to. There are lots of people out there we are interested in releasing a single or a full
musical album. There are corporate organizations that would need to services of a standard
music production companies to help them produce jingles or soundtrack for advertisement and
promotion purpose.
There are authors who would need the services of music Production Company to help the
produce audio books and the list goes on. Over and above, our target market as a music
production company cuts across people of different class and people from all walks of life and
corporate organizations.
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In view of that, we have created strategies that will enable us reach out to various corporate
organizations and individual who we know will our services. We have conducted our market
research and survey and we will ensure that all our music production company is well accepted
in the market place.
Below is a list of the people and organizations that we have specifically market our services to;
• Music Artists
• Record Labels• Advertising Agencies
• Corporate Organizations
• Churches
• Radio and TV stations
• In current Situation, My target Market Will be JKKNIU & The target Customer will be All the
students of This University who have the passion about Music. The students, who want to creat
a platform by Doing Music. They will come to me to compose their own song. Basically The
students of Music Department of This University are So talented & They are Amazing at music.
But they Can't Prove Their Ability or talent just because of Studio facilities near by. So For The
time being those students will be my target customer.
My competitive advantage :
I am not unaware of the point that there are stiffer competition in the music production
industry in Bangladesh hence i have have been able to hire some of the best business developer
to handle our sales and marketing.
PlayBeat Music Production Company might be a new entrant into the music industry in
Bangladesh, but i am coming into the industry with core professionals and of course a standard
world – class recording studio with the best equipment in the industry.
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Lastly, my employees will be well taken care of, and their welfare package will be among the
best within my category (startups music production companies) in the industry meaning that
they will be more than willing to build the business with us and help deliver my set goals and
achieve all my aims and objectives.
→ SWOT Analysis
PlayBeat Music Production Company engaged the services of a core professional in the area of
music consulting and business structuring to assist the organization in building a standard music
production company that can favorably compete with other leading music production
companies in Bangladesh
Part of what the business consultant did was to work with the management of the company in
conducting a SWOT analysis for PlayBeat Music Production Company. Here is a summary from
the result of the SWOT analysis that was conducted on behalf of PlayBeat Music Production
Company;
• Strength:
My core strength lies in the power of My team and the State of the art music studio equipment
that I have. I have a team that can go all the way to give My clients value for their money; a
team that can make produce world class musical sounds. I am well positioned and we know we
will attract loads of clients from the first day i open my music production studio for business.
• Weakness:
As a new music production company, it might take some time for our organization to break into
the market and attract some well – established music artists to sign under our label; that is
perhaps our major weakness. Another weakness is that we may not have the required cash to
promote My business the way we would want to.
• Opportunities:
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The opportunities in the music industry are massive and I am ready to take advantage of any
opportunity that comes our way.
• Threat:
Technology and the internet which of course is a major tool for the advancement and gains
achieved in the music industry can also poses a threat to the industry. The truth is that with the
advancement of technology, it is now easier for individuals to mix up their sounds and even
form soundtrack with the help of music production software applications.
So also, just like any other business, one of the major threats that I am likely going to face is
economic downturn. It is a fact that economic downturn affects purchasing / spending power.
Another threat that may likely confront me is the arrival of a new music production company in
same location where my target market exist and who may want to adopt same Business model
like us.
• Sources of Income
PlayBeat Music Production Company is established with the aim of maximizing profits in the
music industry and I am going to go all the way to ensure that we do all it takes to attract music
artists that will sign under my record label.
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PlayBeat Music Production Company will generate income by offering the following services;
• Music Recording
• Music Video Shoots
• Sound Production
• Studio Session
• Production of Jingles and Soundtracks for Organizations
• Marketing and Sales Music
• Setting up of Recording Studios for Clients
• Production of Audio Books
• Sell of Musical Equipment
• Music / Sound Consultancy and Advisory Services
• Sell of Musical Equipment
• Music Consulting Services
Music production business is not a business that you have to retail products, which is why I
must do all we can to maximize any opportunity that comes our way. Our sales and marketing
team will be recruited based on their vast experience in the music industry and they will be
trained on a regular basis, so as to be well equipped to meet their targets and the overall goal
of the organization.
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I will also ensure that our excellent music production / top class music speaks for us in the
market place; we want to build a standard music production company that will leverage on
word of mouth advertisement from satisfied clients / artists.
My business goal is to grow our music production company to become one of the top 10 music
production companies im Bangladesh which is why i have mapped out strategies that will help
us take advantage of the available market and grow to become a major force to reckon with
not only in Bangladesh but in the world stage as well.
PlayBeat Music Production Company is set to make use of the following marketing and sales
strategies to attract clients;
• Attend relevant international and local music expos, seminars, and concerts et al
• Create different packages for different category of music artists, authors and corporate clients
in order to work with their budgets and still produce top notch music, jingles, audio book and
soundtrack for them
• Encourage word of mouth marketing from our loyal and satisfied clients
I have been able to work with brand and publicity specialist to help us map out publicity and
advertising strategies that will help us walk our way into the heart of my target market. I am
set to take the music industry by storm which is why i have made provisions for effective
publicity and advertisement of our music production company.
Below are the platforms we intend to leverage on to promote and advertise our music
production company;
• Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook
,Twitter, LinkedIn, Badoo, Google+ and other platforms (music online forums) to promote our
business.
• Ensure that our we position our banners and billboards in strategic positions all around Los
Angeles – CA
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• Brand all our official cars / buses and ensure that our trademark label is boldly printed in all
our music album covers and CDs et al
• Most Importantly by Sponsor on My FB page. It can be my personal page named Ak Munna or
"PlayBeat Studio"
My Pricing Strategy:
It is important to point out that, though, music studio charge by the hour so it is the
responsibility of the music producer to ensure that set target are met within the stipulated
time. The more time you spend on the studio, the more money you would have to pay.
No doubt, hourly billing for music studios is a long – time tradition in the industry. However, for
some types of music / record contracts, flat fees are adopted. As a result of this, PlayBeat Music
Production Company will charge old clients (artists) a flat fee and charge new clients (new
music artists) hourly when they make use of My music studio to record their music or produce
music beats for their albums.
PlayBeat Music Production Company I will keep my fees below the average market rate for all
of my clients by keeping our stuffs overhead low and by collecting payment in advance. In
addition, i will also offer special discounted rates to start – ups, nonprofits, cooperatives, and
small social enterprises who engage our services to help to produce musical jingles for advert
purposes.
• Payment Options:
PlayBeat Music Production Company, my payment policy will be all inclusive because i am quite
aware that different people prefer different payment options as it suits them. Here are the
payment options that we will make available to our clients;
In view of the above, we have chosen banking platforms that will help us achieve our plans with
little or no itches.
" PlayBeat Music Production Company is led by Ak Munna (Me) who has been in the Practising
for 1.5 yeras, but While i have never run an independent music business For Myself, I have
been active in the industry for many years as a listener.
But When i will think about broadly and professionally about this, i will hire members and
make a management team.
Hiring Plan
I will supported by a team of experienced music professionals. As the Company grows, we will
need to hire the following personnel:
• Director of Operations
• Director of Marketing
• General Manager
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• Assistant Manager
OPERATIONAL PLAN :
In order to execute on PlayBeat’s business model, the Company needs to perform many
functions including the following:
Administrative Plan
• Negotiating contracts
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Invention
There are various types of new products which are not used befor. Infact,new invention.
Artistic work will be done by all of us.
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Financial Projections:
Sources of Funding :
A small business with no revenue, no track record and no sales screams high-risk. Luckily, there
are other pockets to pick to help your small business get the financing it needs to grow and
thrive.
2. Bank loan :
I have taken a bank loan from Agrani bank limited that was provided to University Students.
3. Bootstrapping
It’s the least sexy approach of the bunch, and it barely gets any spotlight. Bootstrapping is do-it-
yourself financing that requires rigorous budgeting and operating on minimal costs before
taking any outside capital.
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Assumptions
The following table lists important financial assumptions.
General Assumptions
Plan Month 1 2 3
Other 0 0 0
Break-even Analysis
The Break-even Analysis indicates what is needed in monthly revenue to break even.
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Break-even Analysis
Assumptions:
Expenses
Interest Expense $0 $0 $0
Cash Received
Dividends $0 $0 $0
Assets
Current Assets
Accounts Receivable $0 $0 $0
Inventory $0 $0 $0
Long-term Assets
Current Liabilities
Current Borrowing $0 $0 $0
Long-term Liabilities $0 $0 $0
Business Ratios
Business ratios for the years of this plan are shown below. Industry profile ratios based on the
Music recording and distributing industry NAICS code 512220, are shown for comparison.
Ratio Analysis
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Percent of Sales
Main Ratios
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Activity Ratios
Debt Ratios
Liquidity Ratios
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Additional Ratios