Prepare to invest yourself in your radio business goal with commitment and energy.
Consulting contract documents Writing a Business Plan for your Radio Station Business plan is the reason why some successful businesses can look back and say that they followed particular and deliberate trends in building their businesses.
The reason why people start commercial radio stations is to make money and making money involves attracting sponsorships and paid adverts from corporate organizations, government agencies, politicians, churches, activists and individual et al.
It is not enough to just write a business plan for the sake of writing one, your business plan should be able to pass reality check; you must put relevant facts, figures and statistics into consideration when writing your business plan.
The truth is that, the main aim of writing a business plan is not just for the sake of having a business document in place; but to have a detail guide on how to effectively set — up, run and manage your business. Your business plan should outline and cover strategies on how you intend to operate your radio station and to attract listeners, adverts and sponsorship deals.
When writing your business plan, ensure that you are moderate when it comes to setting projections on income generation et al.
It is important to state that if you want to start a radio station, you should go for standard equipment and of course they can be expensive. Your concern should not just be restricted to the amount needed to purchase standard equipment, but also the amount needed to pay employees and run the organization for at least 6 months, and the amount needed to secure a standard facility that meets your expectation and the amount needed to furniture and equip the office, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.
Financing Your Radio Station Establishing a standard radio station that will be on air 24 hours a day and 7 days a week requires solid capital base. As a matter of fact, you are not likely going to start attracting adverts and sponsorship deals within the first three months commercial radio station business plan operation which is why you must have enough money to cover the cost for at least 6 months.
No doubt when it comes to financing a business, one of the first thing and perhaps the major factors that you should consider is to write a good business plan. If you have a good and workable business plan in place, you may not have to go through stressful processes before convincing your bank, investors and your friends to invest in your business.
Choosing a Location for Your Radio Station When it comes to sourcing for a location for your radio station, you can choose a location that fits into your budget. The location of your radio station does not need to be in a commercial hub; you can operate from the outskirt of town, as long as your signal can be received within the diameter you intend covering.
Besides with the aid of apps and the internet, you can locate your radio station in Hawaii, United States and someone in Lagos, Nigeria can listen to your radio station. Whichever locations you choose to set — up your radio station, ensure that it is safe and easier to locate.
This is important because your staff will work at odd hours and also for it to be easier for guest to visit your radio station when you want them live on air. The ideal facility for a radio station is of course a skyscraper if you can afford an office in such facility.
If you radio station is situated in a high rising building, it is easier for you to transmit to a wider audience. It is advisable that you acquire them as brand new because you can truly trust fairly used radio equipment, they may fail you when you least expect.
When you lease a facility, it is easier for you to set up long term plans. When it comes to the number of employees to run a radio station, you are expected to use your discretion.
Although there are key roles that must be occupied, but that does not stop you from starting with a handful of employees and then grow the radio station as you begin to generate income from the station. On the average, you will need a minimum of 10 people to run a small radio station. This is inclusive of your anchor persons one or two people can run each shift; morning, afternoon, evening and night shift.
Starting a Radio Station from Home — The Marketing Plan Marketing ideas and strategies for a Radio Station One thing about radio station is that it is easier to attract sponsorship and paid adverts when your radio station has a robust listenership.
Before corporate organization sponsor or place advert on a radio station, the usually check the statistics. That is why it is important to win the hearts of your target audience in your target location before intensifying efforts to get people to advertise or sponsor a program on your radio station.
In order to survive the stiffer competition in the U. Part of what you need to do to win your competitors in this industry is to give out freebies during radio shows, allow listeners to participate during live radio programs by calling into the radio station and also once in a while allow one or two of your ardent listeners to come on air live on your radio station.
Possible Ways to Increase Customer Retention for your Radio Business One of the good things that can happen to any brand is having repeat customers at all times.
The ability to have first time customers converted to repeat and ultimately loyal customers is the true reason why you are in business. Without being able to retain listeners, then things might nosedive badly.
Your customers in this regard are corporate organizations, government agencies, religious bodies, individual, and all those who sponsor or place adverts on your radio station and of course you listeners. So, if you are looking towards increasing customer retention for your radio station, then you should create different strategies for this group of people.
When it comes to retaining and increasing listeners all you need to do is to engage them when creating your radio programs, give out freebies during live radio programs and also give room for your listeners to participate during live radio programs by calling in and making use of social media platforms to contribute or share their thoughts.
This is because of the need to always make people tuned in on your station. However, there are times when doing this might prove a challenge.Writing a Business Plan for your Radio Station.
Business plan is the reason why some successful businesses can look back and say that they followed particular and .
Radio Station Business Plan Template – Download Now. Simply fill-in the blanks and print in minutes! Instant Access to 1,+ business and legal forms.
Download samples of professional document drafts in Word .doc) and Excel .xls) format. Capital Community Radio Station expects to achieve profitability within 3 months of beginning operations. The Company Capital Community Radio Station was founded John Smith. Capital Community Radio Station is a Limited Liability Company (LLC) with principal offices located in Capital City, Statesville.3/5(6).
If you are writing a business plan, oftentimes it helps to see a completed plan. Here is a list of sample business plans that are available on the Web for free.
Sep 03, · The internet radio business plan will need to explain in the Executive Summary the features that make this business unique in the marketplace because ease of competitor entry is a potential problem.
Investors will look for multiple revenue sources like subscription fees, advertising revenues and co-marketing arrangements.5/5(1). 2 stARting A LOCAL RADiO stAtiOn: A MAnuAl for AfGHAnISTAn AcknowledGeMenTS This manual was compiled by Parisa Saadatmand-Zitouni with the valuable contributions, advice, comments and support of many of the staff working with Internews.