Band Finances

[MacDaddy]

[quote name='torby' timestamp='1483835574' post='3210570']
5 piece band, 2 members own all the PA right down to the stands , mics and cables.

For contingency purposes a kitty is suggested, this kitty will no doubt grow and grow, perhaps to purchase a bigger rig or van.

One band member has said this is a good idea and if however someone leaves the band....they lose everything in the kitty.

DISCUSS....GOOD OR BAD IDEA.
[/quote]

If you are all Musicians Union members, they will draw up a partnership contract for you, which covers such eventualities.

[No lust in Jazz]

We hire a PA which we all go through for £250 this includes lights and is the same whether its a pub or corporate 'do' - this comes with soundman, set up / re-rig and transport

Individual gear = individual responsibility

All money split equally after PA cost deducted from gig funds.

Edited January 9, 2017 by No lust in Jazz

[stingrayPete1977]

[quote name='blue' timestamp='1483933338' post='3211220']


I'm not sure what we would need at the bar band level that's expensive. We own our own lights and PA.

I'd still pay up. Nothing comes directly out of my cut.

Blue
[/quote]

The PA must have come from somewhere and will eventually need replacing though.

[LewisK1975]

Currently in my cover band, the singer and drummer (Spouses) own the van, PA, mics, cables, lights and Drums.

Only thing taken from every gig is fuel money for the van, varying amount based on distance travelled. We then split the remainder equally.

If replacements or repairs are necessary to the PA or the van, then we'll discuss how to pay for it. Usually ends up being that we won't take anything from the next gig or two and use that to pay for what's needed. We all use the PA and the van so it's OK with me that we all maintain it.

If the repairs / replacements are 'emergency' status, i.e., can't do the next gig without them, then one or more of us will pay up front and get our money back from the next gig.

If anyone leaves then there's no money owed to anyone. Nice and easy.

[blue]

[quote name='stingrayPete1977' timestamp='1483964375' post='3211406']


The PA must have come from somewhere and will eventually need replacing though.
[/quote]


True, and I'll gladly contribute my share out of my pocket, no band fund for me.

Blue

[skankdelvar]

One band I knew, they ran a highly organised kitty / equipment fund where if someone left they were entitled to draw out what they'd put in less a percentage for depreciation. They even allowed for inflation and wrote everything down in a little book they all countersigned after every deposit / withdrawal.

The system worked fine until the lead singer ran off with the guitarist's wife, whereupon all hell broke loose.

Moral: systems are great but people will always find a way to f**k things up.

[largo]

When I joined my last band, I was asked to "buy out" the person leaving. Basically he named his price for the "shared" gear he'd invested in. I did some maths, felt it was worth the investment and went ahead. I do wonder if I'd said I wasn't interested what might have happened? Chances are the band would do the "buy out" & then pay me less anyway so either way I would earn about the same. These days, if I decided to leave I think I'd probably wish the rest of the band all the best and walk away leaving my share of the gear.