Tuesday, May 3, 2011

Black entrepreneurs need to find models that dont cost the earth

from my experience with the stick fighting company the city actually charges no fees to be a busker and the whole industry is very higgeltypiggeldy, meaning unstructured. CT buskers aims to change this and becoming a viable business. My friend Kerry said she's in ( a music promotor, agent, and talent afficionado), i have a great project manager to drive the project as well whom i will introduce later. I have been reading alot about how young black entrepreneurs find it so difficult to finance their start up businesses in the newspapers. However if i look at CT buskers these are the actual costs:

Cost of finding busker spots in the city: FREE

Cost of auditioning buskers: FREE (i will get a venue donated or pay for a community hall at R12 per hour!)

Cost of buskers licences for 1 year: FREE

Cost of publicity: FREE ( because its such a damn good idea that works)

Total cost: 0 ( but it will require some help from friends, time and sweat)

The business model will be to get sponsors at various sites in the city ( 50 spots @ R3600 per annum [ R 180,000]), buskers keep all their own cash they make, buskers get representation and sign with CT buskers for agent fees, a reality TV show, and growth towards JHB Buskers, Durbs Buskers etc.

The lesson is really that young black entrepreneurs need to make sure they can start businesses that require very little capital, not businesses that require loads of cash. This seems to be the opposite way of thinking but it focuses on innovation and simplicity rather than small business development. Young guns need to understand this to get the most out of their energies

No comments:

Post a Comment