2018 Music Entrepreneurship Competition Details

Requirements

Applicants will submit a Music Business Plan describing their project by March 17, 2018. The plan will have a minimum of 10 pages and maximum of 20, excluding a cover sheet and table of contents. All plans must be typed, double-spaced, maximum 12 pitch font, and 1" margin on all sides. Spreadsheets and appropriate appendices can follow the text portion of the plan and should not exceed 10 pages. The outline below, based on Peter Spellman's "Writing a Music Business Plan That Works", is the required template for students to explore the process and customize based on their own plan of action. The business plan sections in bold are required and the bullet sections are recommended aspects to be included in the  music business plan. Additional business plan writing resources are listed below the outline. 

MUSIC BUSINESS PLAN REQUIRED OUTLINE

  • Summary statement
    • Problem: what is the problem you are trying to solve?
    • Audience: who has this problem?
    • Solution: what is your solution (product/service)?
  • Description of your business or project
    • History and background
    • Management description, include team background and credibility
    • Business structure
  • Market Analysis 
    • Market description 1. General market information 2. Specific market information 3. Competition profile. 4. Differentiation: what makes you different?
    • Marketing plan 1. Positioning 2. Marketing mix 3. Pricing philosophy 4. Method of sales/distribution 5. Customer service policy
  • Operations Statement
    • Facilities and equipment
    • Plans for growth and expansion
    • Risks
  • Project Time-Line/Process
  • Financial Information. Please use the spreadsheets from this template.
    • Financial model: how to you make money?
    • Financing required
    • Current financial statements. 
    • Financial projections

 

Resources to prepare the music business plan

 

Schedule

  • February 21st, 2018: Pre-Competition Workshop held during Music Entrepreneurship Departmental (Recital Hall: 11am-11:50am)
  • March 17th, 2018: Music Business Plan submission deadline (see requirements for more details). Music business plans are submitted via email to fabiana.claure@unt.edu. All plans will be sent to the judges for preliminary screening. No submissions will be accepted beyond this deadline.
  • April 9th, 2018: Three finalists in each track will be announced and invited to present their business plans before judges in the Final Round and Grand Finale events. Four honorable mention plans will be invited to present for the judges in the Final Round and one honorable mention team will be selected to present in the Grand Finale event. During the live rounds, all team members will be required to present as part of the business plan pitches. 
  • April 21st: (morning/afternoon): Final round with live presentations for judges, followed by Q&A and judges' feedback. (private event). Location: Kenton Hall
  • April 22nd at 10am: Student/Faculty workshop presented by artist-in-residence, Dr. Angela Beeching (open to the public). Location: Recital Hall
  • April 22nd at 3pm: Grand Finale Live Rounds (open to the public and live streamed via Facebook). The Grand Finale with feature the top finalists in each track. Judges and audience members will be able to ask questions to finalists. An award ceremony will follow including judges' feedback for competitors. Location: Recital Hall