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06-09-2011, 02:39 AM #1Member
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- Nov 2008
What should i charge for Management fee?
My cousin has a young lady who is very talented in Music/Poetry. She’s more of a poet though. Just curious to know, he needed some suggestions as far as how much he should retain for a management fee as he wants to work with her, meaning manage her, as he has connections around town. What do managers normally charge to manage someone? Any suggestions would be much appreciated? Thanks and look forward to some feedback.
06-09-2011, 03:58 AM #2
I ain't sure, so I don't have the cure, to the question you post, so I'm gonna go eat some toast. Word! Poetry is fun.Don't argue with idiots...they will just bring you down to their level then beat you with experience!
06-09-2011, 04:09 AM #3
Google > Music Management Fee >
The Management Fee
A standard management fee is usually around 15% - 20% of your earnings. Your manager takes a cut of proceeds from album sales, any label advance, and from the earnings from deals they have negotiated. Some do not get your money from your merchandise sales, your songwriting royalties, or from deals they have not negotiated (unless you have a prior agreement saying otherwise). Keep in mind that if you are a small band who hasn't started making an income yet, 15% -20% of nothing is still nothing. You may want to keep this earning potential in mind when you are nailing down the details of the job expectations.
The Manager's Expenses
Your manager should not be out of pocket for business expenses for promoting your band, but you need to reach an agreement on how expenses will work. You don't have to pay for your manager's phone costs or office costs, in most instances. You do have to pay for business trips your manager makes on your behalf and reasonable costs like taking a label rep out for drinks. The best way to handle expenses is to pay them at set times, i.e. once a month. The music manager should provide you with receipts for expenses. Include a caveat in the contract saying expenses above a certain amount must be cleared with you first.
06-09-2011, 04:15 AM #4
Google = Thread KillaDon't argue with idiots...they will just bring you down to their level then beat you with experience!