Starting a record label

[mTech]

Im looking at starting a business. I've toyed with the idea of starting a clothing line however I'm not entirely sure it is for me. Am somewhat sat on the fence with that idea.

However, another idea I have had would be to start up a record label come talent scouting business.

I am very much interested in this type of business have numerous people I can think of that I know that have a natural talent of which are hoping to make a career out of.

Is there anyone with experience on here that can lead me in the right direction? Does anyone have any experience as either the "talent" of the talent scout? Is this a profitable industry?

[InkyNib Illustrations]

Spent many a night on stage and many a morning wakening up in a pile of empty beer bottles. I know plenty of bands, promoters, technicians etc. Anything specific you want to know or are you looking for the quickest way to make a million?

[amac]

Originally Posted by MJHarman

Im looking at starting a business. I've toyed with the idea of starting a clothing line however I'm not entirely sure it is for me. Am somewhat sat on the fence with that idea.

However, another idea I have had would be to start up a record label come talent scouting business.

I am very much interested in this type of business have numerous people I can think of that I know that have a natural talent of which are hoping to make a career out of.

Is there anyone with experience on here that can lead me in the right direction? Does anyone have any experience as either the "talent" of the talent scout? Is this a profitable industry?

Why not use social media e.g MySpace, Last.fm, Spotify etc to find emerging talent and reach out to them? What kind of services could you offer them? If you can do business functions e.g marketing, sales, accounting etc you could partner with them.

I guess that's the informal answer - reach out to a musician or group. In terms of the legal side, I'm not sure to be honest; I do know that the record business itself is in turmoil these days i.e year or year declining revenue.

[AlexanderSmith]

Ill be honest if you want to start in this industry the ONLY way you will succeed is with good contacts. When I was in partnership with a friend running out label we spent about £20k very quickly. We had good contacts, and we had great talent we were negotiating with. However on two occasions, within weeks of our discussions started we were knocked out of the way by Universal Music. We had no way of competing.

You are putting yourself in the position to make or break someone's career (life) because if you get it wrong you can destroy the artist / band / group etc.

Just a few words of experience, and worth having a think about :-)

[meisage]

Amac's suggestion is a good one. We can't deny that Social Media really is on the trend now,not just socializing but as well as discovering talents! Your idea of putting a record label company is a promising one! I believe you'll give it a lot of time but the profit plus the popularity will be worth it!

[michaelstein1980]

I too think that social medial like myspace etc is the right way forward. Obviously there are many other ways which might be quicker to reach your target, but they are much, much more costly!

[beerbongbros]

Some great advice just having a read through.

I would like to add dedication. As long as you keep going when you feel like quitting you will stand more of a chance. I do believe it is possible to start with little money if you are well connected or if you know a friend in a popular band, but money will probably pay a huge pat in it, unless of course you rent the equipment.