Unit 16

Budget:

21/05/13
10 full price tickets @ £6
17 advance tickets @ £5
13 guest list @ free
0 students @ free
33 beer/wine @ £1.50

-£100 band fees (£60/40)
Ice, fruit -£7
£1.50 x 33 = £49.5
£6 x 10 = £60
£5 x 17 = £85

£194.5 - £107 = £87.5 profit

22/05/13
No tickets sold as it was a free show
14 beer/wine @ £1 (lower price as customers were mainly students)

No expenses
£1 x 14 = £14 profit

23/05/13
36 full price tickets @ £6
7 advance tickets @ £5
8 guest list @ free
2 students @ free
36 beer/wine @ £1.50
9 juice @ £1
£6 x 36 = £216
£5 x 7 = £35
£1.50 x 36 = £54
£1 x 9 = £9

band fees -£160 (£80 per band)
extra bar stock -£64.49

£314 - £224.49 = £89.51 profit

In the first performance the profit was quite good. The only proper expenses taken into account was the band fee. Even though the fruit was also an expenses, it was a minor one. A few ways I could think of possibly increasing is making ice at home and bringing it in or buy fruit at a market that could potentially be cheaper. For example at a market you can buy a bowl of mixed fruits for a pound. Also the the acts that are peforming can pay a charge for performing at the venue or can make the band fee's cheaper.In the second performance, just a profit it was turned.

For the final performance roughly the same profit was made. But in this case the expenses were significanlty more thant the first performance with the band fees being higher. Also the expenses extra refreshments were way higher than the first performance. This happened because we ran out of stock when it came to refreshments but this was unexpected. A way this could of been tackled in the future is by noticing how much the band fees were. Determining the out come form these profits and breack down of the money, logic dictates that the higher the band fee is, the more popular they are and the bigger the audience will be. This in turn will mean that the tickets sold will be higher and the same goes for refreshments. If we would of noticed this, we could have been prepared by buying a larger stock than usual assuming that this was going to happen. There for there wouldn't of been an extra bar stock need or if there was one needed, it would of been a lot less.

I think the ticket prices were fair but if anything, they could of been slightly higher because adults were the majority of the audience. As for students attending , I think advertisements around the college could have been increased even though it was during exam times thats why numbers were low. Overall it a profit was generated on both the main nights which was the main point of charging and the bar was needed because it effected income by quite a bit