Starting an independent record label, like starting any other business, requires a well-conceived plan with clear goals. Check out this tutorial and learn how to take your love of music and turn a profit.
You Will Need
• A business plan
• A name
• A band or artist
• A recording studio
Step 1: Write a business plan
Write a business plan to demonstrate to potential investors that you know what is involved in running a label.
Step 2: Raise capital
Put together a budget, and raise the capital necessary to form and run the business. Funds can come from personal savings, loans from family or friends, bank loans, or investors.
Step 3: Choose a name
Choose a name for the label.
Check with local, state, and federal laws to ensure the business is properly registered.
Step 4: Contract a band
Contract an artist or band that makes great music and record their album.
Pick a band that is willing to tour. A record label suffers if the band does not tour.
Step 5: Contact the press
Submit the band's record to the press four months before the release date. This increases the chances of getting a review around the release date.
Step 6: Send press to distributors
Send any press about your label or its bands to music distributors.
Step 7: Make the album available
Have the album available in stores and online so the fans who didn't buy one at the concert can get an album with little hassle afterwards.