When it comes to starting a business in the music industry, choosing the right business idea is crucial. With this in mind, we’ve compiled 10 popular and profitable music business ideas to help you transition from musician to entrepreneur and start a business doing what you love. Combine that with the music industry’s increase in global recorded music revenue, and you’ve got yourself a business worth singing about.
10 music business ideas to start today
If you're passionate about the music industry, there are tons of business opportunities to explore. From providing specialized services like music production and artist management to selling musical instruments or offering music lessons, these ten business ideas cater to different aspects of the music world, offering a range of paths for aspiring entrepreneurs.
01. Music production studio
Music producers skillfully create and produce music for various purposes, such as albums, commercials or films. They work closely with artists to bring their musical visions to life, utilizing their technical and creative skills.
Music production allows for artistic expression and the creation of diverse musical projects.
Producers can choose to work independently, collaborate with artists or be employed by recording studios. Successful producers can expand their business by working on high-profile projects, collaborating with established artists or even starting their own record label.
02. Music blogging
Blogging is ideal for passionate individuals with strong ideas and instincts about music. Music bloggers can explore different genres, styles and artists, connecting with a community of music enthusiasts. Through affiliate marketing, sponsored posts and product endorsements, music bloggers can monetize a blog and other platforms they are featured in.
Learn more: How to start a music blog
03. Instrument repair and customization
Instrument technicians specialize in repairing, modifying and customizing musical instruments such as guitars, drums and keyboards. Since musicians regularly require instrument maintenance and customization services, this career offers consistency once you build up your roster of regular customers. Technicians also have the opportunity to showcase their creativity through customizing instruments and optimizing their sound.
04. Music school
Running a music school involves offering music lessons and classes to aspiring musicians, covering various instruments and genres. Music schools contribute to the local community by fostering musical talent, catering to students of different ages, skill levels and musical preferences.
05. Music equipment reseller
Music equipment resellers purchase instruments, audio gear and accessories from manufacturers or wholesalers and sell them to consumers or retailers. Compared to manufacturing or running a music venue, starting as a reseller requires a lower initial investment. Musicians regularly invest in new equipment and accessories. Running a reselling business provides insights into consumer preferences and industry trends. You can also sell niche products and music collectibles for enthusiasts looking for these types of treasures.
Learn more about how to make money as a reseller and reselling business ideas to make you profit.
06. Artist management
Artist managers work closely with musicians to oversee their career development, negotiate contracts and handle promotional activities. Building strong connections with artists can lead to long-term collaborations and success, as the music industry's continuous evolution offers opportunities for artist managers to navigate new trends and opportunities. Managers connect with industry professionals, fostering collaborations and opening doors for their clients.
07. Music event planning
Event planners in the music industry specialize in organizing concerts, festivals and other musical events. A career in music event planning provides ample opportunities for creative expression through the curation and executing unique music events. You’ll call on your in-depth knowledge of the music industry to collaborate with artists, venues and sponsors.
08. Music streaming platform
Creating a music streaming platform gives music fans a place to find music that inspires them and artists a digital platform to share and monetize their art. Subscription-based models provide a steady income stream for the platform. Music streaming platforms connect artists with a global audience. Platforms can support emerging artists by showcasing their music to a wider audience.
09. Music merchandise store
Music merchandise stores sell branded products such as T-shirts, posters and accessories featuring the logos and artwork of musicians and bands. This can be a great scalable business idea, if you plan on working with big name artists and labels.
Merchandise stores allow fans to connect with their favorite artists on a personal level.
Selling merchandise can be a lucrative additional income stream for artists and the store.
Catering to specific genres or fan bases creates a dedicated customer demographic.
10. Music licensing agency
Music licensing agencies assist artists in licensing their music for use in films, TV shows, commercials and other media projects. Licensing fees provide a consistent income for artists. Placement in media projects enhances artists' visibility and popularity. Licensing agencies build relationships with filmmakers, producers and advertisers.
How to get started with your music business idea
Starting a music business idea takes careful planning, creativity and an understanding of the music industry. Whether you're interested in music production, artist management, or any other aspect of the industry, here's a general guide to help you get started:
Identify your niche
Define your passion and determine the specific area of the music industry that you care about the most. This could be music production, artist management, music education or any other niche.
Conduct market research
Do your research to understand the current trends, demands and challenges in your chosen niche. Identify your target audience and competitors. Then, identify opportunities by looking for gaps in the market where your skills or offerings can fulfill a need.
Create a business plan
Executive summary: Summarize your business idea, mission and goals.
Company description: Provide details about your business, including your niche, services and unique selling points.
Market analysis: Detail your research findings, including target audience and competition.
Organization and management: Outline your business structure, team and roles.
Services or products: Clearly define the services or products you will offer.
Marketing and sales: Develop a marketing strategy to promote your business.
Funding: determine how much capital you need and explore funding options.
Financial projections: Outline your revenue and expense projections.
Tip: Try this business plan template, that will help you kickstart your new venture.
Legal considerations
Choose a legal structure for your business (sole proprietorship, LLC or corporation) and register it accordingly. Check local regulations and obtain any necessary licenses or permits.
Understand copyright laws and consider trademarking your business name or logo.
Build your brand
Create a unique and memorable brand identity, including a logo and business name.
Establish an online presence by creating a website and set up profiles on social media platforms relevant to your niche. Attend industry events, connect with professionals and build a network in the music industry.
Develop your skills and resources
Continuously improve your skills through courses, workshops and networking events.
Invest in the necessary equipment and tools for your specific niche, whether it's musical instruments, production software or other resources.
Create a portfolio
Create a portfolio that highlights your skills and previous projects. This is especially important for music producers, artists and other creative professionals.
Set pricing and financial policies
Determine your pricing strategy for your services or products. Dictate payment terms, invoicing procedures and any other financial policies for clearer relationships between you and your clients.
Marketing and promotion
Use social media, a professional business website and digital marketing strategies to reach your target audience. Attend industry events, collaborate with other professionals and leverage your network for business opportunities. Consider offering promotions or discounts to attract initial clients or customers.
Launch your business
Start with a soft launch to test your services and gather feedback. As you gain traction, consider scaling your operations and expanding your offerings. Celebrate small successes, like new artists joining your roster, or a successfully-produced event.
Provide excellent customer service
Focus on customer satisfaction by providing excellent customer service to build positive reviews and repeat business.
Stay informed and adapt
Stay Updated and keep up with industry trends, technology and changes in the market.
Being flexible and willing to adapt your business strategies based on feedback and market shifts.
Starting a music business requires dedication, creativity and a deep understanding of the industry. Tailor these steps to fit your specific music business idea and don't hesitate to seek advice from professionals in your chosen niche.
Inspiring music business websites built on Wix
This guitar school offers a cool way to learn guitar, while relaxing at the comfort of your local bar.
This Tennesee-based team is offering wild effect pedals for studios and music producers, using a retro website with an online store and product demos.
This festival in Minnesota, US is an inspiring example of a successful music business. Their stunning website showcases what they do by showcasing their talent, selling tickets and merch and hosting live sessions.
Music business ideas frequently asked questions (FAQs) related to starting and running a music business:
What are the legal requirements for starting a music business?
Decide on the legal structure of your business. Register your business and obtain any required licenses and permits. Understand copyright laws and consider trademarking your business name or logo. Make sure to comply with local and national regulations related to the music industry.