Do you love discovering new talent? If so, it might be time to quit your day job and set up your own talent agency. While it may be daunting switching careers, there are ways to increase your chances of success. Everyone should have the opportunity to take their passions into business. The question is, how can you set up your own talent agency in Australia?
Here, you’ll discover some great tips you can follow to set up a talent agency and increase your chances of success.
Familiarise yourself with the legalities
Setting up your own talent agency in Australia is a lot different to setting up most types of businesses. There’s a surprising number of legalities you need to be aware of before you set up the company.
For example, as you will be working with new artists, you’re going to need to make sure you understand copyright laws. Protecting both yourself and the artists you work with will be paramount and it’s hard to do that if you aren’t familiar with entertainment law. Without fully understanding all of the legalities, you could end up having to close down your agency before it’s even started to take off.
Other legalities to learn about include contracts, pay rates, and rights agreements. Take your time to understand the industry inside and out if you want to have the best chance of success.
Know what type of talent you’re looking for
In terms of revenue, Australia is the 6th biggest music market within the world. A lot of Australian artists find it difficult to get their big break, particularly as they don’t know where to turn. If you want to cash in on the potential for discovering a lot of the country’s hidden talent, you’ll first need to understand the type of talent you’re looking for.
It’s definitely better to focus on one or two styles of music. Aim to focus on the style you know the most about. When you know what type of talent you’re looking for, you’ll find it much easier to market your agency once it is set up and discover the right type of talent to fit it.
Building up a network
In the music industry, it’s all about who you know, rather than what you know. It’s one thing attracting talent to your agency, but how will you deliver your promise to get them work? Building up relationships with local venues is crucial to ensuring your artists have choices of where to perform.
You can take advantage of networking events, trawl social media to find local venues and set up meetings with key people to discuss potential discounts and publicity your artists could generate from using them. The earlier you start to build up a network, the easier you’ll find it once you set the talent agency up.
Get familiar with marketing
A large part of setting up and running a successful talent agency, is marketing. You may want to hire a marketing manager who can take care of this side of the business for you. They will be responsible for getting the world out about both your agency and the artists you have signed to you.
Overall, it’s not easy setting up a talent agency in Australia. However, the steps above will help you to get started. Don’t forget, the more you research, the more chance your talent agency will be successful.