Music festival accounts - plan, run...and relax.
When it comes to making music festivals a success, the trick is in the planning. Many festivals in the UK, Europe and around the world have started as small events with a couple of bands playing to a few friends.
Before they know it, the organisers have created a happy monster with live acts to book, tickets to sell and hungry mouths to feed.
The big festival accountancy questions:
Getting into a successful festive season often means asking some critical questions:
- How do we plan for profitability?
- Can we ensure our cashflow meets our financial commitments?
- What accounting systems do we need?
- How do we monitor our financial performance before, during and after the festival?
- How do we make the most from our concession and trader activities?
- What is the most effective way of maximising sponsorship revenue?
- Is there a more secure and effective way of managing cash?
When it comes to festival finance, NWN has the answers to ensure events run as effective and sustainable businesses. As a friend of the Association of Independent Festivals (AIF), we're regularly asked to advise its members on music festival accountancy, business management and the challenges of festival funding.