KUMA is the name of the vehicle that will travel from city to city. It is a vehicle shaped like a wolf and represents world unity.
The focus of the concerts is to raise awareness of local artists and local political, social justice, health, and other issues in the cities that host the events.
Operators in the Concert and Event Promotion industry produce, advertise and manage a variety of live events and performances, including concerts, sporting events, and public appearances. The industry’s success has been the result of continued demand for live entertainment and its value to US consumers. Over the five years to 2020, industry revenue has increased at an annualized rate of 3.5% totaling $35.1 billion in 2020. The Internet has expanded the attendance to concerts and events, making it possible for anyone to stream live.
Fans often love well-planned concerts, and through this familiarity, they acquire a taste for them.
The success of operators in the Concert and Event Promotion industry depends on consumers’ willingness to pay for and attend live events instead of listening solely to studio releases and watching televised broadcasts from home. Through economic booms and busts, Americans have long valued live entertainment. This has helped maintain industry revenue growth over the five years to 2017. The growing popularity of live musical performances and music festivals helped increase revenue, in addition to rising levels of per capita disposable income. Over the five years to 2022, industry revenue is forecast to continue to grow. Continued growth in consumer willingness to splurge on industry events, supported by a rise in discretionary spending and corporate profit, is expected to drive steady revenue growth during the five years.
KUMA Concerts looks forward to create, manage, and promote live performances and events, ranging from concerts and theater performances to state fairs and air shows. Some promoters lease space from stadium, arena, and theater owners, while others own and operate venues.
The global events industry size was valued at $1,100 billion in 2018-19 and is expected to grow at a CAGR of 10.3% to reach $2,330 billion by 2026. Events refer to a public gathering of populace art at a determined time and place. The purpose of staging an event can be an increase in business profitability, celebratory, entertainment, and community causes, among others. The most popular events include conference & exhibition, corporate events & seminars, promotion & fundraising, music & art performance, sports, festival, trade shows, and product launch. The key stakeholders within the events market are corporate organizations, public organizations & NGOs, and similar others.
The initial stage of a significant event involves understanding the audience and the behavior that excites and emotionally engages them. The final step consists in conducting events, such as music concerts, sports, exhibitions & conferences, seminars, and others, appropriately. It has been witnessed that events such as music concerts attract the majority of the population, especially the youth and middle-aged individuals, which boost the growth of the events industry size.
The Music Events segment generates the highest revenues in the Event Ticket market, as it includes the lucrative sales for all music-related events like concerts, festivals, musicals, music shows, and operas. Ticketmaster, the global number one online ticketing platform stated, that music has accounted for about 80% of their GTV growth in recent years (with a total platform GTV of US$33 billion). With the rise of music streaming services for artists, concerts have become their primary source of income. As tickets are becoming more expensive, so are the costs of hosting a show. Except for the constant price rise, widespread fake and duplicate tickets, customers are still willing to pay more, as growing user numbers indicate.
The overall objective of marketing activities is to ensure the success of the planned concerts and events and fully meet our customer requirements. The company’s points of differentiation will be a well-trained and knowledgeable team of organizers providing service excellence. KUMA intends to use the following ways to market its products and services;
Giving away one or two free tickets to your event is an effective way of promoting the event by generating interest among the target audience. Start a contest on radio, TV, or social media in which the prize is a ticket to your event. Ensure the contest is easy because this would attract a large number of participants that create a buzz for the event at the same time.
Guerilla marketing, or in-your-face marketing, makes your event stand out because people are more accustomed to traditional marketing. This technique attracts the immediate attention of the target audience through unexpected imagery or consumer engagement.
Partnering with your local radio station will allow us to gain free publicity for our events. The radio station potentially benefits from the partnership by gaining new listeners from your event.
Print marketing involves the use of posters, brochures, and flyers to promote your event. You can pass these promotional aids to your target audience through emails, churches, local colleges, or on the street.
Websites and Social Media
Distribute the information about the conference for as broad an audience as possible. The most effective way to advertise and promote events is through social media and websites.
Find sponsors who are active on the topic and can support the conference either financially, with products or through ads and promotions.
Competitive Advantage: Our competitive edge lies in our extensive experience in the world of concert and event promotions. We translate those skills and expertise in creating exciting and fun events for our clients.
The Concert and Event Promotion industry’s success has been the result of continued demand for live entertainment and its value to US consumers. Further contributing to the industry’s strong financial performance is the changing landscape of the music industry at large. As album sales decline, record labels have increasingly encouraged artists to go on tour and perform at music festivals as a means to generate revenue. Over the five years to 2024, continued growth in consumer willingness to splurge on industry events, supported by rising discretionary spending and corporate profit, is expected to drive modest but steady revenue growth.
This industry creates, manages, and promotes live performances and events, ranging from concerts and theater performances to state fairs and air shows. Some promoters lease space from the stadium-, arena- and theater-owners, while others own and operate venues. In the last decade, people all over the world witnessed society get divided, torn apart from the inside out by crazy ideas, spread by all kinds of crazy people. KUMA was born deep in the desert, rose to life by the love and hope of good people that want to make a change. A real change. A change of mindset, a change of reality, a change of our everyday life.
The business will be operated and managed by Founder 1 and Founder 2. They are highly experienced professional with a demonstrated history of success in the concert and events promotions industries. Founder 1 is skilled in events planning and strategy. KUMA Concerts and Events provides clients with well-composed and managed concerts that let us step back in time and again witness life’s favorite instances. This is what we strive to provide our clients – a tether to all the love and closeness that has made their lives so very meaningful. The company looks forward to revamping its concert and event promotions activities, increase its target clients, and consequently generate more revenue.
KUMA is here to unite people, to help embrace each other, respect each other. KUMA is here to show people that things can be done differently. Our mission is to do good and only good so we could rise above this dark time and build a better world for ourselves and generations to come. The company will be involved exclusively in concert and event promotions works. This will be done purposely to bring about lively entertainment events and concerts to our target audience. This will, in return, maximize profits and allowing expansion of the business in the future. Our target clients will be individuals in and out of the United States and all other related activities.
The business will run under the management of NAME because of the following:
NAME OF THE BUSINESS
The business will be called KUMA Concerts and Events
KUMA Concerts and Events will be located in the United States.
The business will operate under the following address
KUMA Concerts and Events
The management has extensive experience in the world of Concert and event promotions. KUMA is a tool to raise awareness among various issues in our society that needs to be addressed. Our company will be suitable for promoting a variety of concepts such as:
-Portable ALL-IN-ONE festival stage (Park and Play)
-Various co-operations with charity organizations (Human Rights, BlackLivesMatter, Animal Rights, Earth care, etc.)
-Outdoor sport events
-On-The-Go Tour stage traveling coast to coast
Business rules and regulations
KUMA Concerts and Events uses these rules
KUMA Concerts and Events fall under the concert and events promotions and entertainment industry, which is rapidly growing due to the need to increase the need to document events and life’s activities.
Future of the industry
With the increased use of technology in almost all daily activities, the need to bring the memories back to life is increasing demand, primarily through Concert and event promotions. The industry seems to grow, and concert and events promotions services are a vital aspect.
Growth is being driven primarily by the availability of more fans, increasing sales, growing our and expanding customer reach through referrals. This is achieved through exemplary customer satisfaction, well-done concert, and event promotions. Due to the increasing competition in the industry, most clients need to understand their customers better and be highly experienced and creative.
The research carried on the area justify the suitability of the city for the intended type of business. This is due to the following reasons;
The critical success factors in the industry are:
Location: Clients can easily distinguish the companies from others as one at the heart of the United States.
Service factors: One of the primary drivers of excellent service that offers well-managed concerts and events
Price: Price is a critical factor that clients consider in ascertaining the overall value of an offering. Understanding what the customer is being asked to forego in exchange for what they get is the key to our ability to deliver superior value.
Technology: Enhances service delivery through ultra-high-definition cameras.
Annual sales and market reach
The following steps will be taken to estimate annual sales.
Step 1: Determine the number of annual clients KUMA Concerts and Events will have.
KUMA Concerts and Events target is 5% United States clients within 12 months of operation.
Step 2: Based on the 5% of clients, what will KUMA Concerts and Events annual sales be?
We are projecting 50% growth at the end of 2021, followed by a 50 % growth after that.
Marketing is developing consciousness of an excellent or provider that already exists inside the marketplace or is hoped to be put inside the market soon that the client may be made privy to it. Marketing creates a right away drift of the product from the entrepreneur to clients to reap commercial enterprise objectives and targeting areas.
Marketing areas will be selected according to the availability of clients. For example, since this company operates on concert and event promotions, the targeted market should be the availability of clients that might be interested in our services. This will lay the basis for our marketing initiative. Our marketing areas will be VA Beach, VA, Washington, DC, Baltimore, MD, Philadelphia, PA, Ocean City, MD, Atlantic City, NJ, Boise, ID, Salt Lake City, UT, Phoenix, AZ, Denver, CO, OKC, OK, Dallas, TX, New Orleans, LA, Columbus, AL, Atlanta, GA, Charlotte, NC and Raleigh, NC. Our main office will be in Durham, NC. In each of these major cities, will be a party and concert full of local artists and local nonprofit organizations. The locations will be parking lots, small arenas, and other open spaces where attendance can be monitored and limited. Shows will last between 3 to 5 hours. And will include at least 3 sets.
These are clients who are running similar business activities such as concert and event promotions.
These are the clients that have events that require our tickets and our fans.
Some essential competition takes 60% of the significant concert and events promotions related service providers and are located in the United States and mostly offer their services and concert and events promotions-related solutions at relatively costly rates.
To ensure healthy competition, KUMA Concerts and Events will use the following strategies:
Research suggests that competitors take 45% of share in the total market area in the United States. KUMA Concerts and Events looks forward to changing these figures and occupies 35% in a year with a target market share up to 50% countrywide and above 75% market share in the United States. This can be executed through the right advertising blend, which includes;
This could be done to retain and enhance market share, assembly opposition, maximizing income, reaching targets return on investment, and for survival.
This can be done purposely to create consciousness to the target clients countrywide. It will include:
This can be achieved through the creation of online resources that portray the kind of services that we offer and publishing them across online platforms where there are potential clients and convincing them that our services are only the great in phrases of quality, rate, and choice.
This will involve the sharing of services through different social media platforms to reach more clients. For example, through YouTube, Facebook Pages, Twitter, and WhatsApp showing our services.
KUMA Concerts and Events will contribute to sponsoring related social events to market our brand and thus increase customer reach for our concert and events promotions services.
It will also provide;
Five guiding principles support our vision:
KUMA Concerts and Events wants everyone to play a pivotal role in customer experience. We intend to remain as customer-centric as possible to hasten the decision-making process and to react promptly to demand.
One of the founders will be responsible for strategy operations. One employee will be responsible for operations, staffing events, and coordinating artists while the other will be responsible for ticketing, financials and accounting.
KUMA Concerts and Events operating model and procedures for the company:
General Approach to Operations
One of the biggest challenges in operating a concert and events promotions company is to ensure excellent service delivery and customer satisfaction. Therefore, both backstage (behind the scenes) and front stage (what the clients see and experience) operational issues are critical.
Back Stage (Behind the Scenes Operations Activities)
Front stage (What the Customers’ see and Experience)
Weekly newsletter: A weekly newsletter will be emailed to clients with informative upcoming concerts and events.
The business source of finance will be from:
KUMA Concerts and Events can hire enough organizers and other support staff. They provide excellent service delivery and support services. They also have the following skill
The business operates in the United States.
The business uses reliable high-resolution cameras to capture all demands as per the needs of the client and to productivity and ease their experience effectively.
KUMA Concerts and Events shall use production techniques to market their services.
The commercial enterprise shall comply with the criteria as proven beneath
This includes figuring out the route of action to reap the desired effects. It ensures financial operations, improves motivation, and helps manage through decreasing uncertainties.
Tickets will be sold months in advance, up to the day of the event. Average ticket prices will be:
Basic Entry- $50 per person for attendance (not including tax, which you can average at 7%).
VIP Entry – $150 per person with the opportunity to meet the artists in the show
There will be a limited number of VIP tickets (no more than 100 per event), but there will be, on average, 1,000 basic entry tickets available at each show. If capacity is reached, that is maximum revenue of $65K per city on average.
We will also sell tickets to preferred food and merchandise vendors within the venue for $100 per vendor. This allows them advertising and space to provide merchandise, food, and beverages. There will be at least 20 slots available for each vendor for an average of $2,000 additional revenue at each event.
We intend to do at least 15 cities per year for total expected revenue of $977K per year.
Revenue is expected to grow by 5% per year.
Estimate fuel and vehicle maintenance at $18,000 per year (dependent on the average price of gas)
Estimate venue rental, security, and setup/breakdown at $150,000 per year (15 venues, average cost to rent $10K)
Estimate average overhead (ticketing admin, general admin, legal, and other fees) to be 15% of revenue or $147K
Estimate salary for ops manager to be $50K per year with a 3% raise each year
Estimate artists’ fees to be $150K per year, $10K for each show.
Estimate the marketing and advertising to be $147K
All expenses are expected to grow at a rate of about 3% per year.
Ticket sales will vary between cities. We expect around 1-5% of each city’s youth (18 to 35-year-olds) to be interested in our events
Crowdfunding, reward-steps by donations.
|Operating Expenses||$ 119,500|
|Depreciation and amortization||10%||$ 15,065|
|Other Loss/Gain||$ –|
|Operating Income||$ 16,086|
|Description||Category||Quantity||Unit Cost||Subtotal||Total Projected|
|Location Rentals||Rentals||10||$ 1,200||$ 12,000|
|Event Staff||Rentals||50||$ 220||$ 11,000|
|Equipment Rental||Rentals||10||$ 800||$ 8,000|
|Other||Rentals||2||$ 500||$ 1,000|
|Other||Rentals||2||$ 500||$ 1,000|
|Other||Rentals||2||$ 500||$ 1,000|
|Other||Rentals||2||$ 500||$ 1,000||$ 35,000|
|Announcements||Public Relations||2||$ 400||$ 800|
|Graphics||Public Relations||2||$ 600||$ 1,200|
|Press Releases||Public Relations||3||$ 250||$ 750||$ 2,750|
|Linens||Décor||5||$ 300||$ 1,500|
|Lighting||Décor||10||$ 250||$ 2,726|
|Additional Signage||Décor||5||$ 200||$ 1,000||$ 5,226|
|Speakers||Event Programming||1||$ 1,800||$ 1,800|
|Performers||Event Programming||5||$ 4,500||$ 22,500|
|Video Production||Event Programming||1||$ 6,500||$ 6,500|
|Presentation Graphics||Event Programming||3||$ 100||$ 300||$ 31,100|
|Social Media||5||$ 85||$ 425|
|Social Media||5||$ 85||$ 425|
|Social Media||5||$ 85||$ 425|
|Social Media||5||$ 85||$ 425|
|Google +||Social Media||5||$ 85||$ 425|
|Social Media||5||$ 85||$ 425|
|Snapchat||Social Media||5||$ 85||$ 425||$ 2,975|
|Online||Advertising||5||$ 600||$ 3,000|
|Advertising||10||$ 250||$ 2,500|
|Flights||Transportation||5||$ 400||$ 2,000|
|Taxi & Bus||Transportation||10||$ 35||$ 350|
|Driving (miles, cost/mile)||Transportation||3000||$ 0.65||$ 1,950|
|Parking (days, cost/day)||Transportation||30||$ 14.95||$ 449|
|Hotel (nights, cost/night)||Lodging||125||$ 90||$ 11,250|
|Breakfast – 30 days||Food||150||$ 13||$ 1,950|
|Lunch – 30 days||Food||150||$ 40||$ 6,000|
|Dinners – 30 days||Food||150||$ 45||$ 6,750|
|Snacks and Drinks||Food||150||$ 5||$ 750|
|Gift Bags||Other||500||$ 10||$ 5,000|
|Pens||Other||500||$ 1||$ 500||$ 36,949|
|Tour Locations and Revenue|
|Location #||Date||City||State||Venue||Projected Income|
|1||01.15.20||Tour Kick-Off Party Las Vegas||Nevada|
|3||01.21.20||Salt Lake City||Utah|
|10||02.16.20||New York City||New York|
|11||03.19.20||Final Party||New York|
|Projected Income||$ 150,650.00|
|Expected Revenue Per Show (!)|
|Description||Cost/Unit||Est. Number Per Show||Total|
|Adults @||$ 25.0||300||$ 7,500|
|Children @||$ 10.0||75||$ 750|
|Other @||$ 8.0||50||$ 400|
|Ads in program|
|Covers @||$ 20.0||50||$ 1,000|
|Half-pages @||$ 10.0||25||$ 250|
|Quarter-pages @||$ 5.0||25||$ 125|
|Large booths @||$ 80.0||4||$ 320|
|Med. booths @||$ 45.0||6||$ 270|
|Small booths @||$ 10.0||5||$ 50|
|Food Trucks (% of revenue?)||$ 400.0||3||$ 1,200|
|Sale of items|
|Items @||$ 25.0||40||$ 1,000|
|Items @||$ 15.0||60||$ 900|
|Items @||$ 10.0||80||$ 800|
|Items @||$ 5.0||100||$ 500|
|Total income Expected (per show)||$ 15,065|
|Car Expenses Breakdown|
|Transportation||Semi-trailer Reno-Boise||1||$ 2,000||$ 2,000|
|Art car Reno-Boise||1||$ 500||$ 500|
|Ivan’s RV Reno-Boise||1||$ 500||$ 500|
|Labor||Scott – contractor comp.||1||$ 8,000||$ 8,000|
|Ivan – build lead comp.||1||$ 8,000||$ 8,000|
|Labor and other related exp||1||$ 15,000||$ 15,000|
|LED mapping and wiring||1||$ 23,000||$ 23,000|
|Storages||Art car fabrication shop||8||$ 2,000||$ 16,000|
|Art car fabrication shop deposit||1||$ 2,000||$ 2,000|
|Art car garage||16||$ 300||$ 4,800|
|Art car garage deposit||1||$ 500||$ 500|
|Travel||Airfare Boise to Reno||1||$ 400||$ 400|
|Airfare BKK-LA||1||$ 2,000||$ 2,000|
|Airfare LA-Reno||1||$ 400||$ 400|
|Equipment||Madrix Software||1||$ 4,000||$ 4,000|
|75kw Multiquip Whisperwatt||1||$ 27,000||$ 27,000|
|Tire replacement||6||$ 400||$ 2,400|
|Parts and materials budget||1||$ 14,000||$ 14,000|
|Fuel||Diesel for generator||200||$ 5.00||$ 1,000|
|Other||Emergency fund||1||$ 20,000||$ 20,000|
|2020 Tom storage & transp||1||$ 7,500||$ 7,500|
|Operational cost||1||$ 15,000||$ 15,000|
|Accountant 2019-2020||2||$ 3,000||$ 6,000|
|Total Cost||$ 180,000|
Revenue by month
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KUMA Business Plan