I have owned this company for 15 years since I started it at age 14. My strategy has always been to accept essentially any work. I want to narrow my focus and think more strategically. Different types of gigs come with enormously different amounts of work, reward, and prestige.
I’m done with schools. These are stressful jobs which don’t pay well. I may outsource this to a contractor in order to continue to leverage that segment, but I don’t want to work school gigs anymore. The kids are always mean, and I spend all my time mediating between the opposite wants of kids and their parents. It’s not worth it.
I want to focus primarily on two weekly residencies at dive bars. I want to set up an 80s dance party which benefits a worthy cause, as well as a weekly hard techno night (In the Berghain sense) which more closely resembles San Francisco’s underground sex party scene. This is a very complex and challenging pair of weekly events which should prove a very challenging and engaging project. Currently I am looking at Wednesday and Thursday nights but I do not have venues in mind yet.
Weddings are a very high ticket gig which is also a high stress gig. It’s worth it, and I really should be doing more of these. I usually gross about $1k/gig. Stress is no excuse for ignoring such a lucrative market segment.
Third, I want to expand my probono work. I already have some of the best sound and lighting equipment currently available, and I can literally give a mic to worthy groups in need.
Revenue Goals
My first goal is to make $200/week in revenue from these two weekly diverbar events.
My second goal is to do one wedding a month at that $1k price.
These two goals make up $1800/month in revenue. This is just shy of half of my overall monthly revenue goal for the open revenue project. In order to fulfil my overall goal that each of three project should supply at least 20% of an overall revenue of $4,000, this means I should have two other projects grossing at least $800 each. This still leaves me $600 shy of the $4,000 goal.
New Edges
Exclusivity
There are lots and lots of bars in the Sacramento area which do not have the required entertainment license for hosting live events. This prohibits them from having dancing, bands, DJs, or any other music that isn’t coming from either a jukebox or radio. The cost to get this license is actually very low, but you have to pay for several years up front. Many venues simply choose not to have these types of events.
The solution is so simple. I have already spoken to several bar owners who said they would happily accept a binding contract for several years of work in exchange for me paying for the permit and giving them several days a week to host their own events. I project a weekly amortized cost of just $8, with potential weekly profits up to twenty times that.
Diversification
It can’t just be bars and weddings. I have had many other reliable sources of DJ revenue over the years including sororities, middle schools, high schools, etc.
These days, many small venues such as hookah bars are impacted by a changing legal landscape and struggling to identify ways of enticing larger crowds while selling less product. Live entertainment is the obvious age-old solution. I have already spoken to several hookah bar owners who would love to host live DJ events. Incidentally, the smoke would really make the lasers pop!