Karaoke Forums

I fail to see the problem here or why it would even be a concern on the mans investment or finances. If he has 10 rigs great for him IMO. This is a part time gig for me as well. I own another business (oh my day job) and i do this because i love it. The money is just a plus. I would guess i have more invested in lighting and effects than most here....because again, me and my guest like it and it separates me from most around here. Just don't get your point on the subject

It's not a problem at all. However, there is a big difference between someone who does this as a hobby or distraction that really has no incentive or necessity to make it profitable in order to pay a mortgage or anything else.

If you did have to rely on it solely for income, you'd no doubt have a different reference for a viewpoint.

True, but I did not see where this tread posted was about the survival of the starving karaoke host, but rather the two new collections he added to his library...for a great price I might add.
You make a good point Chip, if one were solely relying on this as a means of income alone...you would not (most likely) be able to afford 3 rigs, lights, lighted mic stands etc. But that my friend is for a different day

With all due respect, you went from 7 systems to one. You intentionally idled 6 rigs, none of which you can get your full investment back from. You also have a pile of Sound Choice discs that generate zero revenue for you. Certainly you have sold off some of your discs/equipment but I imagine you have a lot of extra stuff laying around. Not a lot of difference there.

My 3 rigs are paid for in full. I hope to have all 3 in production generating some sort of revenue in the next 30-60 days. I do have a business plan and do see light at the end of the tunnel. I know that karaoke alone is a difficult thing to use (@$%&#!) the sole source of revenue. As noted I am teaming up with a wedding planner and I have other relationships for other opportunites.

I maybe a relative newb to the karaoke scene, but I am not a newb to business and money management.

I have had MUCH more expensive hobbies in my lifetime btw....

-Chris

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-Chris

My LONG TERM goal is for karaoke and more to be my sole source of income and I am laying the ground work to do just that. I stress long term because I do want to take it slow. I currently have a satisfying career that could potentially carry me to retirement. But I like having a Plan B (and a Plan C for that matter).

This business (and most businesses are), is about scale and diversity. For the lifestyle I want to live, I will have to scale it out and branch out into other revenue streams related to karaoke to meet my standards. To give you an idea of the scale I am considering, I am actually investigating multi-state operations and partnering with another host that I have known for almost 20 years.

On the diversity side....

I am working with some developers on two different projects related to karaoke.

I am building relationships in my community around live shows and talent management.

I am talking to other hosts about partnering up for events and promotions.

I have been looking to buy a venue for over a year now that I can establish as a karaoke hot spot.

And, probably my most valuable asset - 20 years of relationships in a technical community where there exist a LOT of karaoke singers that have a LOT of cool, interesting ideas.

My sole source of income will never be just hosting karaoke. But I do want it as the central theme to what I do.

-Chris

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-Chris

Nice score on the PartyPacks. I bought 3 factory sealed PP2's off ebay for $150. I later sold 2 of them for $100 a piece

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My statements, opinions and conclusions are based on my own personal experiences, observations, research and/or just my own $.02. I'm not a "cheerleader", but that doesn't make me a Pirate.