Spin Time Events

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Executive Summary

Spin Time Events is a mobile DJ and event entertainment company in Indiana. We bring professional sound, lighting, a DJ and MC and an optional photo booth to weddings, school and corporate events and private parties. Our clients are couples, event planners, schools and families who want a great party and no stress about the music.

The problem is simple. A bad DJ can sink an event, and many hosts cannot tell the good from the bad until it is too late. We meet every client first, plan the music and schedule together, put the price and the plan in a contract, bring backup equipment and keep the dance floor full.

Here is what our numbers show. We expect sales of $88,800 in Year 1, growing to $282,540 by Year 5 as we add DJs, bookings and event add-ons. We expect a profit of about $14,300 in Year 1, growing to about $27,700 by Year 5.

We need $40,000 in total. That covers $21,300 in startup costs (speakers, a controller and laptop, microphones and cables, lighting, a photo booth, contracts, insurance and branding) and a cash cushion for the first months. I am putting in $10,000 of my own money, and I am asking for a $25,000 SBA loan plus $5,000 from an investor or partner.

I am Terrence Boyd, the owner. These numbers are estimates based on the assumptions listed at the end of this plan, not promises.

Company Description

Spin Time Events will be a limited liability company (LLC) in Indiana, owned by Terrence Boyd. An LLC is a business type that generally keeps your home and savings separate from the business's debts and lawsuits, although a lender may still ask for a personal guarantee. A business attorney or the Small Business Development Center (SBDC) can explain how it works in our state.

What we believe. The host's event is not our show. We listen, we arrive early, we keep the music appropriate for the crowd and we always have a backup.

What we offer:
- Wedding packages. Ceremony and reception music, MC services, a planning meeting and lighting, with a written timeline.
- Corporate, school and community events. Clean, age-appropriate music and MC services for dances, fundraisers, company parties and festivals.
- Birthday and private parties. Music, lighting and games for birthdays, anniversaries and graduations.
- Photo booth and lighting add-ons. A photo booth with props, and uplighting that changes the look of a room.
- Later, as we grow: karaoke, a second sound system and a team of DJs. The numbers in this plan do not include these.

The space. We run from a home office and a small storage unit for equipment. We budget $1,800 a year for storage in Year 1, and the plan assumes this grows about 6% a year.

Licenses and insurance. We will register the LLC with the state, get a business license, an EIN (the business tax number from the IRS, free at irs.gov) and a sales tax registration where it applies. We will use legally purchased music and a paid music service, and I will ask an attorney how music licensing works for our events, since venues often hold the public performance licenses but may require proof of insurance from us. We will carry general liability insurance, equipment insurance, commercial auto coverage for the vehicle if it is used mainly for the business, and workers' compensation once we hire.

Where things stand today. This plan is my starting point. Before I buy equipment, I will talk with at least 10 venues and planners about what they pay and what they dislike about DJs, DJ at least 5 free or low-cost events to build a reel and reviews, and line up at least 5 booked events. If I cannot, I will change the plan before I spend money.

Problem & Opportunity

Good event music is harder to find than it looks.

1. Unreliable DJs. Some arrive late, bring too little equipment or cancel at the last minute.
2. Wrong music for the crowd. Hosts worry about inappropriate songs at school and family events and a dead dance floor.
3. Unclear prices and contracts. Some DJs quote a low price and add fees, or have no contract.
4. Hard to compare. Hosts cannot tell from a website whether a DJ is good.
5. Too many vendors. Planners want one company for music, lighting and photo booth.

How we will find out if people want this before we spend money. I will talk with at least 10 venues, planners and schools about what they pay and want, DJ 5 free or low-cost events and ask for reviews. Our Year 1 plan needs about 22 weddings, 26 corporate and school events, 44 private parties and 30 photo booth add-ons, so I will ask for at least 5 booked events before I buy more equipment.

Products & Services

What we sell. We have four offerings, each priced simply.

1. Wedding packages. The plan assumes an average of about $1,350 per event in Year 1, rising to about $1,550 by Year 5. Music subscriptions, travel, supplies and an extra helper at some events cost about $170 per event. We expect about 22 weddings in Year 1, growing to about 66 a year by Year 5.
2. Corporate, school and community events. The plan assumes about $820 per event in Year 1, rising to about $940, with about $110 per event in direct costs. We expect about 26 events in Year 1, growing to about 70.
3. Birthday and private parties. The plan assumes about $620 per event in Year 1, rising to about $700, with about $70 per event in direct costs. We expect about 44 events in Year 1, growing to about 110.
4. Photo booth and lighting add-ons. The plan assumes about $350 per event in Year 1, rising to about $390, with about $45 per event in supplies. We expect about 30 add-ons in Year 1, growing to about 96.

Our prices. Clear packages by length and type of event, a deposit to hold the date and a written contract. The price does not change unless the host changes the plan.

How it works for a client:
1. A free consultation by phone or in person to learn about the event.
2. A contract with the date, times, price, deposit, cancellation terms and a backup plan.
3. A planning form where the host picks must-play songs, do-not-play songs and key moments.
4. We arrive early, set up, test the sound and run the event, and a backup system is always on hand.
5. We ask for a review and a referral.

Gross margin, explained. "Gross margin" is the share of each sale left after paying for music subscriptions, travel, supplies and event helpers. Our plan shows about 88% in Year 1. That money pays the DJs, insurance, marketing and other bills. DJ and crew pay is counted separately, under payroll.

Market Analysis

Who will use us:
- Couples planning weddings and their planners.
- Schools, PTAs and community groups with dances and fundraisers.
- Companies with parties, award dinners and team events.
- Families with birthdays, anniversaries and graduations.

Where we will work. Events within about 60 miles of home, with travel fees beyond that.

How we sized the plan. Our Year 1 plan needs about 22 weddings, 26 corporate and school events and 44 private parties, which is about two events a week. Most are on weekends, so one DJ can handle this. I will check the real numbers by talking to venues and planners before spending money.

Season. Wedding season runs spring through fall, and corporate parties peak in the holidays. The numbers show a yearly average. We plan ahead with early booking discounts and winter corporate outreach.

We are careful on purpose. The plan assumes one DJ in Year 1, so quality and reliability stay high.

Competitive Landscape

Other choices clients have:
1. Other mobile DJs. Many are good, so reviews, price and reliability matter.
2. Bands, which cost more and play a fixed set.
3. Venue-provided DJs, which are convenient but may be less personal.
4. A friend with a playlist, which costs nothing but can be risky.
5. Streaming music from a speaker.

How we will win clients: a planning meeting, a written contract, backup equipment, clean edits for school and family events and quick answers to every question. These are promises we have to keep, and any competitor could make them too, so we will measure ourselves on them every week.

Marketing & Sales Strategy

How clients will find us.
- A website with sample videos, packages, a calendar and a contact form.
- Reviews on wedding and event sites and a free Google business listing.
- Venues and planners. Visit venues, offer to be on their preferred vendor list and send planners a simple package list.
- Bridal shows and school events. A booth with a demo, a lighting display and a photo booth sample.
- A referral thank-you. A client who refers a booking gets a discount on their next event.

Marketing budget. About $6,000 a year in Year 1 (about $500 a month), growing about 8% a year. The logo, website, sample videos and photos are paid for from startup costs ($3,000).

Operations Plan

How the business runs day to day.

Equipment and storage. Powered speakers, a subwoofer, a controller and laptop, a backup laptop, microphones, cables, lighting and a photo booth, kept in a locked storage unit and loaded in a vehicle for each event.

A normal event:
1. Confirm the timeline and the venue's power, load-in time and sound rules a few days ahead.
2. Arrive early, set up, test the sound and lights and check the venue's rules about volume.
3. Run the event from the host's plan, keep the music appropriate for the crowd and act as MC when asked.
4. Pack up, clear the space and follow up with a thank-you and a review request.

Music and content. We use a paid music service and legally purchased music, keep clean edits ready for school and family events and follow the host's do-not-play list. We do not play anything that breaks a venue's rules.

Safety. We tape down cables, keep equipment off walkways, follow venue rules for power, keep volume at reasonable levels and carry a fire extinguisher and a first-aid kit. We do not serve or handle alcohol.

Equipment. About $14,500 to start: speakers, a controller and laptop, microphones and cables, lighting and a photo booth. We set aside about $3,000 a year after that, and the plan adds a second sound system and more lighting as DJs join.

Running costs in Year 1: vehicle fuel and maintenance about $4,200, marketing and bridal shows about $6,000, liability insurance about $1,800, music subscriptions and booking software about $1,800, storage about $1,800, and accounting and legal about $2,000. That is $17,600 in all.

Payment. Clients pay a deposit to hold the date and the balance before or on the day of the event. Corporate and school clients are invoiced and some pay in about 30 days, so we keep a cushion of cash to cover the wait.

Management & Organization

Who runs the business. Terrence Boyd, owner, lead DJ and MC. As owner I will meet clients, run events, book dates, manage the team and handle the money side of the business. I plan to pay myself $36,000 a year in salary.

The team. Pay figures include payroll taxes and workers' compensation insurance.
- DJ and MC (full-time employee): none in Year 1, one in Years 2 to 4 and two in Year 5, at about $34,000 a year each.
- Assistant DJ and setup crew (part-time): none in Year 1, one in Years 2 and 3, two in Year 4 and three in Year 5, at about $18,000 a year each.
- Booking coordinator (part-time): one starting in Year 3, at about $20,000 a year.

We hire people who are on time, polite and good with crowds, train every DJ on our written steps and content rules, check references and run background checks (with the person's permission and following the law) on anyone who works at schools or with children.

People who will help us: a bookkeeper or tax preparer, an insurance agent who understands event vendors, a business attorney for a one-time review of the contract, and a free mentor from SCORE or the Small Business Development Center (SBDC).

Milestones Narrative

Our goals and when we plan to reach them.
- Before opening (3 to 5 months ahead): talk with at least 10 venues and planners, DJ at least 5 free or low-cost events and collect reviews, line up at least 5 booked events, register the LLC and get an EIN, open a business bank account, get insurance and equipment quotes, have an attorney review the contract and music licensing, and build the website and sample videos. Buy the full equipment package only after the first bookings are in hand.
- Year 1: open with the owner as the DJ, with about 22 weddings and 44 private parties, $88,800 in sales and a profit of about $14,300.
- Year 2: add our first full-time DJ and an assistant, with about 36 weddings, $145,360 in sales and a profit of about $10,900.
- Year 3: add a booking coordinator, with about 48 weddings, $196,700 in sales and a profit of about $28,200.
- Year 4: add a second assistant, with about 58 weddings, $241,980 in sales and a profit of about $43,300.
- Year 5: grow to about 66 weddings a year with a team of seven, $282,540 in sales and a profit of about $27,700.
Growth depends on booking and keeping weddings and corporate clients, earning reviews and hiring reliable DJs, so treat the later years as goals, not promises.

What we check every week: events booked, deposits received, reviews, referral bookings, equipment problems, late arrivals (aim for none) and cash in the bank.

Funding Request

How much we need and how we will use it. Total we are raising: $40,000.

How we got that number. The Funding Need Calculator in this plan adds up three things:
- Startup costs of $21,300, listed item by item in the Startup Costs section: $4,600 for two powered speakers, subwoofer and stands, $3,800 for DJ controller, laptop and backup system, $1,900 for wireless microphones, cables and cases, $2,600 for dance floor lighting, uplights and fog-free effects, $1,600 for photo booth setup, $1,800 for legal, contract templates and accounting setup, $400 for business license and local permits, $3,000 for logo, website, sample videos and photos, $900 for first insurance payment, and $700 for storage unit deposit and first month.
- A cash cushion of about $13,400: about 3 months of running costs. Our cash stays above zero in every year of the plan, but lenders still want a cushion in the bank for slow weeks and surprises. They call this "working capital."
- Together that comes to about $34,700, rounded up to the nearest $500: $35,000.
We are raising $5,000 more than that, $40,000 in all, to leave extra room for loan payments in the first years and for the extra equipment each new DJ needs.

Where the money comes from:
- My own money: $10,000.
- Amount requested as a loan: $25,000.
- From an investor or partner: $5,000.

Kind of funding we are looking for. An SBA 7(a) small loan through a local bank or community lender, plus investor or partner money. SBA Microloans, which go up to $50,000 through nonprofit lenders, are another place to ask; their repayment times are usually shorter, so the monthly payment would be higher. Investor or partner money is not paid back with interest, but the person gets a share of the business. A family member, a friend, a local investor or a business partner could fill this part. Put any agreement in writing.

How we will pay it back. We expect a profit of about $14,300 in Year 1, growing to about $27,700 by Year 5. With this funding, the business has money in the bank at the end of every year of the plan, and the lowest year-end balance is about $30,900, at the end of Year 1. The loan is planned at 12.75% interest over 10 years, so payments of about $370 a month (about $4,435 a year) are already included in our cash flow. We chose 12.75% as a cautious planning rate. Ask the lender for the real rate, which may be lower or higher.

What we are offering the lender: our equipment as collateral (something the lender can claim if the loan is not repaid) and my personal guarantee (my promise to repay from my own money if the business cannot).

A smaller first step, if needed. If we cannot raise the full amount right away, we can start smaller and grow into this plan:
- Phase 1: start with one speaker set, a controller and laptop you may already own, and a simple contract, working weekend events while keeping your current job. Startup can be roughly $3,000 to $6,000 for speakers, insurance, music and a website. Get your own quotes.
- Phase 2: once you are booked most weekends, add lighting and a photo booth, hire your first assistant and follow this plan.
To plan the smaller start, make a copy of this plan (use Duplicate) and lower the numbers to match.

All numbers in this plan are estimates. We will update them as real results come in.

Appendix Notes

Documents to attach before you send this plan:

- Your resume (one page is fine) and any licenses or training certificates.
- A personal financial statement (a list of what you own and what you owe; lenders usually provide a form).
- Business registration papers and your EIN (your business tax number from the IRS, free at irs.gov).
- Proof of insurance, or a quote.
- Your contract, planning form and package list.
- Sample videos, reviews and letters from venues or planners.
- Proof of insurance, or quotes.
- Quotes for the sound, lighting and photo booth equipment.
If you don't have any of this yet, no worries - let's continue.

The assumptions behind our numbers (change them in the Financials section to match your own):
- Wedding Packages: about $1,350 per event in Year 1, rising to $1,550; about $170 per event in direct costs, rising to $190; about 22 events in Year 1, growing to 66.
- Corporate, School and Community Events: about $820 per event in Year 1, rising to $940; about $110 per event in direct costs, rising to $120; about 26 events in Year 1, growing to 70.
- Birthday and Private Parties: about $620 per event in Year 1, rising to $700; about $70 per event in direct costs, rising to $78; about 44 events in Year 1, growing to 110.
- Photo Booth and Lighting Add-Ons: about $350 per event in Year 1, rising to $390; about $45 per event in direct costs, rising to $49; about 30 events in Year 1, growing to 96.
- Pay: Owner / Lead DJ and MC $36,000 (1/1/1/1/1); DJ and MC (full-time employee) $34,000 (0/1/1/1/2); Assistant DJ and Setup Crew (part-time) $18,000 (0/1/1/2/3); Booking Coordinator (part-time) $20,000 (0/0/1/1/1). The numbers in parentheses are how many people we plan to have in Years 1 through 5. Pay figures are yearly and include payroll taxes and workers' compensation.
- Other yearly costs in Year 1: vehicle fuel and maintenance $4,200, marketing and bridal shows $6,000, liability insurance $1,800, music subscriptions and booking software $1,800, storage space $1,800, and accounting & legal $2,000. These grow between 5% and 12% a year as the business grows.
- Clients pay a deposit and the balance by the event, but corporate and school clients are invoiced. At the end of Year 1 about $10,656 (12% of Year 1 sales) is owed to us by those clients.
- Tax rate: 21%.
- Every dollar amount is an estimate. Replace them with your own quotes and research.

Startup Costs