The year is off and running. Have you been able to sit down and sketch out the year – in terms of projects, performances, and finances? A clear understanding of potential costs, and income sources, will help you confidently head into the coming months.

 

Whether you are producing your own show, or making work to present whenever you can in various performances, a detailed budget will create a clear picture and accountability. Your budget should directly relate to your goals and priorities for this calendar year. 

 

Don’t be overwhelmed by the list of potential expenses on the template here! Some expenses might not apply to you this year. Also, whenever possible, consider what can you get done for free or for trade. For example, would your brother-in-law, who is a graphic designer, design your postcard this year as a favor to you? Does the studio you teach at offer free rehearsal space to employees? Could you borrow costumes from the local college dance department in exchange for some tickets to your upcoming performance?

 

The template here can be a great starting point. You can also create an Excel spreadsheet on your computer or a spreadsheet through Google Docs.

 

As you are just building your company, the sources of income are fewer than in years to come. Right now, consider income from:

-Ticket sales

-T-shirt and bags sales

-Fundraisers

-Donations from individuals

-Kickstarter and Indiegogo campaigns (heads up – the websites take a portion of the funds raised)

-Personal income that you contribute

 

You might have to think deeply about your own personal financial commitment to your dance company. Would you be willing and able to set aside $100-$200 a month of your earned income to directly apply to your artistic endeavors? Are there creative ways to spend less money so that you can re-allocate those dollars towards your company? Simple things – fewer coffee drinks at the local cafe and fewer dinners out – can save you $30-$100 a month to put towards your artistic work.

 

Ticket sales can be quite unpredictable as you start off, so strong dependence on a large amount of ticket sales might be unrealistic and leave you with less income than budgeted.

 

If possible, asking a trusted friend, colleague, or mentor to review your budget alongside you can keep things in perspective and catch any unforeseen costs or inaccurate numbers. A mentor might even be willing to share with you a budget from years past.

 

In the field of modern dance in the United States, pay remains a big and sticky subject. Your dancers are your most important component of your company, so your budget needs to reflect this. Without them, building your company is not going to happen. Budgeting a stipend for the dancers – even though it will not cover all of their hours committed to rehearsing and performing – still signifies the professional nature of your work. You are taking this seriously, and you want them to do so as well. Offering a small monthly stipend (even if it is $15-$30 a month) plus a performance stipend ($75-$200) clearly shows your commitment and efforts towards professionalizing your work.

 

Stating up front – at the start of a project – what you can offer the dancers is greatly appreciated. A simple statement of understanding is valuable – what you expect from the dancers in terms of time and effort and what you will be doing in terms of preparing for rehearsals, using their time wisely, and compensating for their work. In addition, you can show your appreciation for your dancers in numerous ways – inviting them over for a nice meal, babysitting their kids, an iTunes gift card, or a gift certificate for a massage. 

 

As for paying yourself, some choreographers will share that they did not pay themselves a stipend for the first few years of the company. Writing into the budget a goal of $500 or $1000 for you might be a goal to strive for. Do not be discouraged if at the beginning you do not bring in any income from your company’s work. Keep remembering the priorities for the year and what is most important for you with your company right now.

 

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