Evaluation of Revenue

On the revenues side of things for the Mad Ferret gig we did make a loss. This was something that could have been prevented or at least revised so that we got our money back. I lost £25 out of my own pocket, this was to pay our headline band for that nights gig and travel costs. We were relying on some money from the Mad Ferret but in the end this was no to be and we were each left £25 out of pocket. I have to say that we only have ourselves to blame for this happening and have learnt that you should never rely on someone else for you getting your money back without it being set in stone before hand. 

To have prevented making a loss on the night we should have planed to have a fee to enter the gig of around £2.00 as we would have made around £200 as there was around 100 in and out on the night. With hinds sight we should have done this and it would have probably have been a money making gig. This is something that for our next gig we will to  make happen so we at least break even. I understand that if this was a business I was running, this could not happen at any cost as It is commercially un viable to do so. I think that this happened because we didn’t actually have a set person to manage our finances, although we might have said this in our job roles list. This is something that needs to be addressed for our next gig. I have learnt a lot from this gig and how this should and can be done better for the future when I may want to put gigs on, on a regular basis. 

For our next gig we are going to put on we will need to make sure that we break even or make a profit from it. The things I have said above will be put into practice and we will make sure we come out with more or the same money we went into the gig with, to make it a success.