How to become a music business owner: Ryan's story
Meet Ryan and find out about his journey from DJing and working in engineering to launching his own company selling audio accessories. Part of our Bitesize world of work series.
"I got a grounding in education, I got a grounding in music and playing to crowds...and I was also working in engineering."
- Ryan has always loved music and started DJing at a young age
- He grew up in a family of engineers and balanced his education with playing gigs and working for his dad's engineering company
- Combining his knowledge of music and his engineering abilities, he started making audio accessories and giving them to his friends to try. They loved the products and Ryan's business, MasterSounds, was born
- Ryan advises making the most of social media to promote your creativity if you want to get into the music industry.
What to expect if you want to become a music business owner
The salary and working hours when you own a business can vary enormously but what's most important is you work hard and love what you do.
Working for yourself looks different for each person and each business, but in general it means you:
- run your own business and are responsible for its success
- can decide how, when and where you do your work
- charge an agreed, fix price for your work
- sell goods or services to make a profit
- can hire people at your own expense to help you or to do the work for you.
You can be both employed and self-employed at the same time. You can work for your employer during the day, for example, and run your own business in the evenings and at weekends. It’s important to contact HMRC for advice if you’re not sure if you’re self-employed.
You can get help with setting up or developing your business, through the government’s business support services, for example, for advice about tax or about how to find funding to start your business.
This information is a guide (source: GOV.UK)