I've fantasized about opening a music club. I am good at business and have a nose for successful music ventures and profitable music gear (instruments and equipment). Also good at real estate/carpentry/remodeling. Definitely think location is key concern for any of the ideas below, since I have seen many clubs fail, and bad location (out of the way or too scary) is a prime one. All my musician friends say a club is a terrible idea (but they aren't so good with money to begin with). OTOH I know of a high rent, prime location club that has been empty for over a decade that sometimes I wonder if I or a coalition could revive (it used to be stellar, and well-sited in tourist area).
Of all the ideas below, what might be break-even or profitable? I am not drawn to do an educational component, but that seems to be the most common route fellow musicians have taken. Some have also had success with tiny non-profit spaces.
Probably the only way to make $$ with night music is via liquor sales, which requires a license. You also have to have security. That's why I thought it could be interesting to go in a different direction, toward the coworking market, where there's disposable income, a desire for community, daytime events and less need for liquor.
Ideas:
- jazz club (most think there isn't enough audience)
- social/hobby/culture club/salon (what does this mean?)
- music club
- music and dance club
- live webcasting music studio
- acoustic music club (less need for security, quieter, similar to jazz club)
- coworking space with music & other events
- music store with music & other events (love music stores, and have insights into the instrument business)
- coworking space with music gear store plus live music & other events (gear would need to be locked up to prevent loss)
- just a coworking space (is this even potentially profitable or is that a bad assumption to make?) and later build in events/webcasting
Having written all this out I think it all seems like too much work...
I do like creating gardens and artistic spaces. Maybe I shouldn't combine that with live music...