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Hobby or Business?
https://mail.karaokescene.net/forums/viewtopic.php?f=1&t=27490		 Page 1 of 2
Author:  ripman8 [ Tue Mar 19, 2013 9:21 am ]
Post subject:  Hobby or Business?
After seeing Brian's array of mics, made me wonder how many of us are strictly business or not. Not saying Brian's spending decisions lead one way or another, just got me thinking.


I am not in it strictly for business. Never will I be, it will always be a hobby to me, I enjoy it. If it was strictly business, I would be watching my spending, making decisions strictly based on "will this purchase or decision make me money"? Perhaps I should use that thought process no matter what. I like having what I consider the best. Of course we could spend insane amounts of money to get the "best" so it has to be within reason. I've spent a lot more this and last year on equipment then I've made. Of course I hope to change that in the future, especially once I make the move up north (yes my house is STILL for sale).

Looking for others thoughts.
Author:  mrmarog [ Tue Mar 19, 2013 9:41 am ]
Post subject:  Re: Hobby or Business?
It started out as a 2nd business, because I needed to beef up my retirement. Then I lost my job almost 3 years ago and it became a real job (my only job) and I started making wiser choices about quality and longevity. Now I am officially retired and I only do because I want to.

When I had a "day job" I was able to buy almost anything I needed....then as an ONLY business I bought only what I needed, and now I'm back to whatevever I need again. That latter is because I use all the earnings for fun and wish lists.

I keep things fairly simple, light, and compact. Getting older requires getting wiser.
Author:  leopard lizard [ Tue Mar 19, 2013 10:19 am ]
Post subject:  Re: Hobby or Business?
I echo mrmarog almost exactly as far as circumstances except I have two years before I could collect any social security so I'm still at it. At first I subsidized the business with my main job and could be a bit more frivolous. Now I have to weigh want vs. how much it would make a difference to bringing in more people and also weigh mobilty/carrying in factors with what I am able to do and the space considerations of the venues and what they pay.
Author:  Lonman [ Tue Mar 19, 2013 10:43 am ]
Post subject:  Re: Hobby or Business?
Mine was a business from the git go ('94) - was hosting and working with a couple other companies since '89 or 90. Started out with a pawn shop & used PA system, got a loan to buy a new laserdisc player WITH CDg capability, and rented the Pioneer library - buying 1 or 2 discs a week until my library was caught up to what I was renting. After that, paid off loans & going from there.
Didn't really have any steady work as far as 'real' jobs.
Author:  Brian A [ Tue Mar 19, 2013 11:19 am ]
Post subject:  Re: Hobby or Business?
Wife works supporting my karaoke! No, I’m just kidding. :lol: Although in a way she does because she’s also my assistant kj.

It’s a full-time hobby. I think, sleep & breathe karaoke 24/7. I have no day job, just enjoying two monthly pension checks from the government. Retired 22yrs active service in the Navy, + my social security. Hence, income generated from karaoke goes back to the system for upgrades or ‘whatevs’…..

Not saying it was great from the get-go. Like everyone, we’ve been there too with our own ‘trials & tribulations’. Just now reaping the benefits from the long tremendous hardship years of military life, i.e., deployments & family separations. Kids grown, house paid, now I can finally say – ‘Life is good. Enjoy it” & hosting karaoke is like regularly partying with friends on a weekly basis. :)
Author:  Vince Prince [ Tue Mar 19, 2013 12:04 pm ]
Post subject:  Re: Hobby or Business?
It's definitely a business for me. My business consists of running live sound for bands, djing and hosting karaoke. It started with running live sound for bands, then I got into djing, then about 3 and 1/2 years ago, I started karaoke.

Today, karaoke brings in the bulk of my income. I have no day job.
Author:  ripman8 [ Tue Mar 19, 2013 5:12 pm ]
Post subject:  Re: Hobby or Business?
I know there are many more interesting stories. Funny we have Vince Prince and KingBing.


I was a year and a half into singing karaoke, not regularly athough the 4 or 5 months before I joined this forum I was going weekly, using vacation on Fridays so I could stay out late and be there for the whole show. Then I decided I could do a better job than the company that was hosting the show I was frequenting. I started googling karaoke and trying to learn how to put together a system. I tell you, it wasn't easy figuring out what I needed to play karaoke music so when newbies come on here, I know what they are going thru. I finally found a cavs online and then found this forum and with help, started piecing my system together.


Now I have a serious set up, haven't seen one in person better, but still a hobby at this point, only doing about 3 gigs a month now, have been turning down a lot of gigs due to my upcoming move but still having fun!!!!!
Author:  chrisavis [ Wed Mar 20, 2013 7:53 am ]
Post subject:  Re: Hobby or Business?
It is a business for me though I also splurge on things I want or want to do because I can. Nothing like what Brian has done, but I am only a few years into this. I suspect as time goes on I will invest in some of the cool stuff too. I have a great day job of 16 years that allows me to subsidize the karaoke side. But I want to replace the day job with a full time mobile entertainment business and be my own boss.

I met with a fellow KJ a little over a week ago about buying him out and keeping him on to work for me. Instantly expands me to 2 additional venues and 3 more nights a week for gigs that have been in place for a couple of years with good crowds. We are still working out the details but hope to have it wrapped up in a couple of weeks.

-Chris
Author:  Marble [ Wed Mar 20, 2013 8:21 am ]
Post subject:  Re: Hobby or Business?
Hobby that just about pays my bills :D
Author:  ripman8 [ Wed Mar 20, 2013 9:02 am ]
Post subject:  Re: Hobby or Business?
Marble wrote:
Hobby that just about pays my bills :D


Well golly gee, that's about like perfect! Hope to be there by the end of the year, we'll see how it goes.
Author:  Vince Prince [ Thu Mar 21, 2013 2:02 am ]
Post subject:  Re: Hobby or Business?
ripman8 wrote:
Funny we have Vince Prince and KingBing.


The prince and the king... lol. Yep, I only use that name because it rhymes and sometimes I don't use it at all. Just Vince is fine for me. :)
Author:  The Lone Ranger [ Thu Mar 21, 2013 3:52 am ]
Post subject:  Re: Hobby or Business?
ripman8 wrote:
After seeing Brian's array of mics, made me wonder how many of us are strictly business or not. Not saying Brian's spending decisions lead one way or another, just got me thinking.


I am not in it strictly for business. Never will I be, it will always be a hobby to me, I enjoy it. If it was strictly business, I would be watching my spending, making decisions strictly based on "will this purchase or decision make me money"? Perhaps I should use that thought process no matter what. I like having what I consider the best. Of course we could spend insane amounts of money to get the "best" so it has to be within reason. I've spent a lot more this and last year on equipment then I've made. Of course I hope to change that in the future, especially once I make the move up north (yes my house is STILL for sale).

Looking for others thoughts.


8) I to started as a hobbyist and turned into a sort of businessman along the way. I tried never to forget my roots since I will only be doing this hosting till I'm seventy which will be just a little over two more years now, if my health holds out. One thing I found out about filing as a business, I can write off any costs associated with that business, equipment, pens, paper music etc.etc. etc., even the lease for the van I use for the business. I try to treat my patrons as an extended family and this has paid big dividends since I have a loyal following. Have a blessed day.
Author:  simpmech [ Thu Mar 21, 2013 1:24 pm ]
Post subject:  Re: Hobby or Business?
Party time Hobby for now. The big picture is to supplement my retirement with KJ & DJ work. And possibly convert to full time at age 60? :banger: I am able to build my dream system now as my current day job allows it. Hopefully by the time I am ready to quit that and go full time into this I will have a solid system w/ back up to take me til my last gig
Author:  ripman8 [ Thu Mar 21, 2013 8:10 pm ]
Post subject:  Re: Hobby or Business?
simpmech wrote:
Party time Hobby for now. The big picture is to supplement my retirement with KJ & DJ work. And possibly convert to full time at age 60? :banger: I am able to build my dream system now as my current day job allows it. Hopefully by the time I am ready to quit that and go full time into this I will have a solid system w/ back up to take me til my last gig



Sounds familiar.
Author:  ripman8 [ Thu Mar 21, 2013 8:33 pm ]
Post subject:  Re: Hobby or Business?
Vince Prince wrote:
ripman8 wrote:
Funny we have Vince Prince and KingBing.


The prince and the king... lol. Yep, I only use that name because it rhymes and sometimes I don't use it at all. Just Vince is fine for me. :)



My name came from my last name. I was called Bing Ding as a kid, then it was Bing for short. I wanted something snappy and that started my stage/business name. Some of my childhood friends still call me Bing.
Author:  MrBoo [ Fri Mar 22, 2013 6:26 am ]
Post subject:  Re: Hobby or Business?
Always has been a hobby. I hope it always will be a hobby.
Author:  TopherM [ Fri Mar 22, 2013 9:40 am ]
Post subject:  Re: Hobby or Business?
By definition, if your karaoke venture made a profit in three of the last 5 years, it's a business. If you don't profit from it, it's a hobby!

My karaoke is definitely a business, seeing as how it profits about 15K a year (two nights a week) according to my tax returns.
Author:  ripman8 [ Fri Mar 22, 2013 5:33 pm ]
Post subject:  Re: Hobby or Business?
Definition, sure. I don't think it has to be measured by money. If you are measuring it by money, then it is a business. Of course we have to keep track of it, I keep all my records and turn them in but in my situation, I can't dedicate too much time to it but I love the time I put into it and at some point, it will be more of a businesss for me.
Author:  BigJer [ Mon Mar 25, 2013 5:54 pm ]
Post subject:  Re: Hobby or Business?
Currently it's more of a hobby than a real business. I'm trying to limit my buys so I at least make a small profit each month, but as far as what I make an hour, I'm probably not even clearing minimum wage just yet. When you count the original investments I probably haven't quite broken even yet, but I'm getting there.
Author:  kjflorida [ Tue Mar 26, 2013 2:25 pm ]
Post subject:  Re: Hobby or Business?
full time business that pays the bills :D
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