If you’re new to touring, one of the many big questions you might have is how to turn a profit? Some tours are investment tours. On some tours, you’re lucky enough to break even, while other tours can earn you lots and lots of money. It all depends on how you plan it, where you go, how long you stay, and what kind of shows you can book. It also depends on how good you are with budgets.
What is a Tour Budget?
In the same way that a standard household budget keeps track of expenses, a tour budget keeps track of expenses while you are on tour. A tour budget is a log of expenses and earnings that are accrued while traveling from gig to gig. It is a tally of all expenditures such as gas, lodging, meals, parking fees, etc per day. It also tracks revenues and earnings per show or per day. The tour budget can be on paper or in electronic format.
Why Do Musicians Need a Tour Budgeting System?
A good tour budgeting system will help you make informed decisions that can improve your experience on the road. You’ll be able to decide whether you can afford a nice steak dinner after a great show or a hamburger from the dollar menu instead. You’ll also be able to plan out what kind of hotels you can stay in ahead of time depending on your estimated earnings. There will be times you’ll need to stay with friends instead of hotel lodging in order to stay within budget.
You need a tour budgeting system to…
- Stay within your budget
- Make informed financial decisions while on the road
- Plan a profitable tour
- Keep track of expenses
- Measure your success
What’s in this Sample Touring Budget for Musicians?
Use this sample budgeting spreadsheet to not only plan your tour finances, but you can also use it to keep a detailed record of your expenses while traveling. The elements in this budget such as snapshots of daily expenses and projected earnings will show you how or if you can turn a profit. It will also inspire you to stay within budget while on the road. I use this budgeting sheet myself and it has really helped me to plan my tours and keep track of expenses while on tour.
Make your budget the very first thing you look at when planning a tour. This Sample Tour Budgeting Spreadsheet can be used as a planning tool to ensure that every tour is a profitable one. It will help you make better booking, lodging, and routing decisions. I recommend using this spreadsheet for every tour before, during, and after.
With this spreadsheet you can:
- Make routing decisions
- Make booking decisions
- Look at expenses compared to projected earnings
- See a breakdown of expenses separated by category (meals, gas, lodging, misc.)
- Forecast whether or not a potential tour will be profitable
This sample tour budgeting spreadsheet also includes a sample 10-Day tour showing how you can turn a $1000 profit. In the 10-day budget sample, expenses and projected earnings are separated by show, by day. I included a realistic tour with show dates at real venues in real cities with real potential earnings to show that you can not only break even on your tours, but you can make a profit and go home with some real hard cash.
Use it! Customize it to suit your needs and start doing your best tours ever. Be confident to take your show on the road. I’m rooting for you and I know a lot of other people are too.
Plan for profit on your next tour with the Tour Budgeting Spreadsheet.
Download the free Tour Budgeting Spreadsheet today.
Note: This Sample Tour Budget is a Google Spreadsheet. Copy it into your google drive, or download it onto your computer as an Excel spreadsheet and get to work.
Liked this article? Check out the Tour Series:
How to Book a Tour
5 Benefits to Touring as an Independent Artist
A Tour Planning Checklist
The Fool-Proof Guide to Filling Empty Tour Dates
How to Break Even or Turn a Profit on Your Tour
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