When your band is growing and seemingly on the cusp of a major breakout, it’s easy to forget about financial necessities. After all, record deals and sold out venues seem to be just around the corner. It’s important to remember, however, that you will still have to spend more money before the major profits come through. Touring, buying better equipment, and recording music all involve some serious expenses. With that in mind, you should be thinking about how to raise some funds while your band is in the process of taking off. Here are four ways to make some money for your growing band.
If people really like your music, they might be interested in buying stickers, posters, and apparel with your branding. This provides you with a fantastic business opportunity. If you’re not already selling this type of merchandise, then you should start producing it as soon as possible. Start with small batches and try selling it at gigs. Once you’ve sold through your initial stash, consider making a larger purchase.
While you probably see a future for your band playing original tunes, don’t let pride prevent you from accepting paid, cover-centric gigs. When people host weddings, company functions, and family reunions, they want a local act that can reliably churn out the old favorites. It might not represent the peak of your artistic ambitions, but there’s no shame in accepting money for playing the hits.
One of the quickest ways to make modest amounts of cash is by taking your act to the streets. Informal sets on crowded sidewalks can attract crowds of viewers, some of whom might drop a few bills in the hat. It’s not a reliable way to fund an international tour, but busking can help if you just need to raise some extra scratch.
If you’ve got a small amount of money saved for the band, you could try to grow your savings through investments. You could try buying some stocks on the market, or you could take a bigger risk and decide to buy bitcoin. There’s no guarantee you’ll come out ahead, but it provides another way you could conceivably make money.
Even while your band is gaining popularity, it can still be tough to secure the funds you need. Give these techniques a try if you need additional money for your growing band.