![How to plan and track the budget of your show [template]](http://onlineyougrow.com/cdn/shop/articles/cov-budget-2_bd8d5e4f-3ef7-4dc5-98be-d4a2dd4ac758.png?v=1715856458&width=1100)
If you don’t plan and track your show budget properly, you're setting yourself up for failure.
When we developed our strategy pack for show producers, we saw a lot of producers struggling with finances and planning.
They were disorganized, had no grasp of cash flow, and were drowning in financial troubles despite having substantial ticket sales.
Don’t let this be you—stand out and succeed.
We’ve created a small, free tool to help you get started: our Budget Tracker and Planner. Let’s turn your show's finances around and set you on the path to success!
Get the budget tracker tailored for shows
Most show producers don't know how to plan and track their budget. This spreadsheet will help you.
Example of a full budget for shows
Here is an example of a (very) detailed budget for a show production, to give you some inspiration
1. Venue and Utilities
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Venue Rent | Lease for performance space | $7,000 | $84,000 |
| Electricity | Power consumption for lighting and sound | $1,000 | $12,000 |
| Water | Water usage for restrooms and concessions | $150 | $1,800 |
| Internet & Phone | Internet service and business phone | $200 | $2,400 |
| Waste Removal | Garbage and recycling services | $100 | $1,200 |
| Insurance | Property and liability insurance | $600 | $7,200 |
2. Salaries & Wages
| Position | Number of Employees | Monthly Cost per Employee | Total Monthly Cost | Annual Cost |
|---|---|---|---|---|
| Director | 1 | $5,000 | $5,000 | $60,000 |
| Stage Manager | 1 | $3,500 | $3,500 | $42,000 |
| Actors | 5 | $2,500 | $12,500 | $150,000 |
| Technicians | 3 | $2,000 | $6,000 | $72,000 |
| Ushers | 4 | $1,500 | $6,000 | $72,000 |
| Marketing Manager | 1 | $3,000 | $3,000 | $36,000 |
3. Production Costs
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Set Design | Materials and labor for set construction | $4,000 | $48,000 |
| Costumes | Costume design and materials | $2,000 | $24,000 |
| Props | Props for the show | $1,000 | $12,000 |
| Lighting | Lighting equipment and maintenance | $1,500 | $18,000 |
| Sound | Sound equipment and maintenance | $1,500 | $18,000 |
| Makeup | Makeup and hair styling | $500 | $6,000 |
4. Marketing & Advertising
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Online Advertising | Google Ads, Facebook Ads, etc. | $400 | $4,800 |
| Social Media Management | Managing social media accounts | $600 | $7,200 |
| Print Advertising | Flyers, posters, newspaper ads | $300 | $3,600 |
| Website Maintenance | Hosting, domain, updates | $150 | $1,800 |
| Email Marketing | Email campaigns and newsletters | $200 | $2,400 |
| Promotional Events | Special events and promotions | $300 | $3,600 |
5. Miscellaneous Expenses
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Equipment Maintenance | Regular maintenance of technical equipment | $500 | $6,000 |
| Licenses & Permits | Performance rights, health permits, etc. | $200 | $2,400 |
| Office Supplies | Stationery, pens, printer ink, etc. | $100 | $1,200 |
| Staff Training | Training programs and materials | $300 | $3,600 |
| Contingency Fund | Emergency repairs and unexpected costs | $500 | $6,000 |
Some shows make 5x more profit than you!
We have studied the strategies of the best shows in the world. Replicate them now!
What are the biggest expenses for a show?
Be mindful of these potential pitfalls. Here are five major costs every show producer needs to consider, along with some tips on how to manage them effectively.
- Production CostsThese can take up a significant portion of your budget. You're dealing with set designs, costumes, and props, and prices can vary based on quality, availability, and customization. To keep these costs in check, focus on reusing materials, negotiating better deals with suppliers, and minimizing waste. It's easy to overspend by opting for elaborate designs that don’t add enough value to the show.
- Cast and CrewYour team is your backbone, but paying for their wages, benefits, and training can be expensive. This cost is always high because you need a certain number of skilled professionals to deliver a great performance and keep things running smoothly. You can optimize labor costs by scheduling efficiently, cross-training staff, and monitoring productivity. However, be careful not to underpay or overwork your team, as this can lead to high turnover and poor performance.
- Venue and UtilitiesPrime locations come with high rent, but they can attract more audience members. Utilities like electricity, sound, and lighting are essential but add up quickly. To optimize these costs, negotiate favorable lease terms and invest in energy-efficient equipment. Overspending often happens when you choose a venue that's too large or too extravagant for your needs.
- MarketingYou need to get the word out about your show, but advertising can be pricey, whether it's online ads, social media campaigns, or traditional media. Optimize this expense by focusing on cost-effective methods like the ones we provide in our pack. Overspending can happen if you invest in flashy campaigns without a clear return on investment.
- Technical Equipment and MaintenanceThis includes everything from sound systems to lighting rigs. These are expensive because quality equipment and regular maintenance are crucial for smooth operations and audience satisfaction. Optimize by investing in durable, energy-efficient equipment and maintaining it regularly to avoid costly breakdowns. You can overspend by going for the latest high-tech gadgets you don’t really need.
How to spend less with your show?
Here are practical tips to help you, as a show producer, optimize your budget and manage expenses more effectively.
| Expense | Tips to Optimize |
|---|---|
| Venue Costs | Negotiate with venues for off-peak booking times and consider smaller, more intimate locations. |
| Cast and Crew | Utilize a scheduling software to optimize rehearsal times and reduce overtime. |
| Lighting and Sound | Invest in energy-efficient LED lighting and rent sound equipment as needed. |
| Marketing | Run social media contests for your show and collaborate with local influencers for free exposure. |
| Costumes | Train staff on efficient use of materials and consider renting costumes to reduce costs. |
| Set Design | Set up a maintenance log for regular checks and repairs of set pieces. |
| Rent/Mortgage | Negotiate lease terms during renewal or consider moving to a less expensive rehearsal space. |
| Insurance | Regularly review insurance policies to ensure they meet current needs and compare rates annually. |
| Props | Use cost-effective, eco-friendly materials and offer discounts for audience members who donate props. |
| Programs | Use digital programs or QR codes for program access to reduce printing costs. |
| Ticketing System | Choose a ticketing system that offers essential features with low transaction fees and integrates with other systems. |
| Staff Training | Conduct regular in-house training sessions and use free online resources. |
| Waste Management | Implement a waste tracking system to minimize waste and donate excess materials. |
| Technology | Invest in multi-functional equipment and utilize show management software for scheduling and ticketing. |
| Linen and Laundry | Partner with a cost-effective linen service and consider reusable costumes and props. |
| Licensing and Permits | Stay up-to-date with local regulations to avoid fines and costly renewals. |
| Transportation | Plan transportation routes to maximize efficiency and reduce fuel costs. |
| Office Supplies | Purchase supplies in bulk and go paperless where possible with digital systems. |
| Inventory Management | Use inventory management software to track stock levels and reduce spoilage. |
| Pest Control | Schedule monthly pest control services and maintain cleanliness standards to prevent infestations. |
| Music and Entertainment | Use a streaming service for background music and host local musicians during off-peak times. |
| Uniforms | Choose durable, easy-to-clean uniforms and offer staff a stipend for maintenance instead of using an external service. |
Copy the tactics of the best shows in the world!
There are shows that make way more money than you do. We have studied their tactics. Get them now!
Expenses that are just useless for a show
Yes, some expenses for your show are just unnecessary. They don't contribute to increasing ticket sales or enhancing the audience experience.
| Show Expense | Reason It's Useless |
|---|---|
| Lavish Set Designs | Overly extravagant sets don't necessarily attract more viewers and can be a drain on the budget. |
| Premium Sound Systems | Unless you are hosting a high-end concert, most audiences are satisfied with mid-range sound systems. |
| Excessive Cast Members | A large cast increases payroll costs and can complicate scheduling. |
| High-End Lighting Equipment | Top-of-the-line lighting is not always necessary and can be cost-prohibitive. |
| Traditional Print Advertising | Paper ads often have a lower return on investment. Don’t include them in the marketing strategy of your show. |
| Multiple Costume Designs | Having various costume styles increases costs without adding significant value to the audience experience. |
| Excessive Crew | Overstaffing leads to higher labor costs without necessarily improving production quality. |
| Premium Subscription Services | Expensive subscriptions for music or magazines often go unnoticed by the audience. |
| Exclusive Props | Using rare props can inflate costs and complicate logistics. |
| Costly Seating | High-end seating is not always appreciated by the audience and can be a significant expense. |
| Custom Printed Programs | Personalized programs are a minor detail that most audience members overlook, and they can be expensive. |
| Unnecessary Software | Paying for software with features you don’t use is a waste of resources. |
| Premium Water Brands | Most audience members are content with filtered tap water, making expensive bottled water unnecessary. |
| Extra Transport Vehicles | Maintaining a larger fleet than needed increases operational costs. |
| Excessive Membership Fees | Paying for multiple industry memberships often yields little benefit. |
| Overly Frequent Set Changes | Constantly updating sets can be costly and disrupt rehearsals. |
| Expensive Stage Decorations | Elaborate stage decorations are often ignored by the audience and add to the cost. |
| High-End Stage Equipment | Luxury stage equipment is prone to damage and expensive to replace, often going unnoticed by the audience. |
| Excessive Production Meetings | Too many meetings can reduce productivity and increase labor costs. |
| Expensive Program Designs | Frequently redesigning programs is costly and often unnecessary. |
| Unused Promotional Materials | Ordering more promotional items than needed leads to waste and unnecessary expense. Get our marketing budget planner template. |
| Paid Directory Listings | Many free listing options are available, making paid listings often redundant. |
| High-End Catering Equipment | Specialized catering equipment is often unnecessary and adds to costs without a proportional benefit. |
Stop working with a tight budget for your show!
Managing a budget for a show when funds are tight can feel like a nightmare. It's like being trapped in a cycle where any unexpected expense can derail your entire production.
This constant pressure makes it nearly impossible to invest in new acts or better equipment, leaving you always scrambling to cover costs. It's a life filled with stress and sleepless nights.
Yes, you can continue down this path, cutting corners and barely making ends meet. But there's another part of the equation you might be overlooking. Instead of just trying to cut costs, you can focus on growing your revenue. More income means more flexibility and more resources to enhance your show.
And no, you don't necessarily have to spend money to grow. There are plenty of zero-cost initiatives and strategies that can help you increase your revenue by 10%, 20%, or more. We've detailed all of these strategies in our guides, after studying dozens of shows just like yours. Get them now!
Make your show more profitable
We have studied the strategies of the best shows in the world. All their tactics are explained in our pack!
