NothingButRock
Registered User
Join date: Mar 2008
309 IQ
#1
Well now that we're past our first couple of gigs and we're getting requests for more the time has come to stop hiring the gear we don't have or sharing with other bands.

We have a certain amount of "band" money we have put aside from our previous performances and some of our members have discussed purchasing shared band gear. I have some reservations about this and was wondering if anyone could lend me some advice from their experiences.

Where does the gear stay while not in use? We alternate between practicing at my place and the drummers place as we both live out of town and have large enough spaces.

and

What happens to the gear if the band breaks up or a member drops out?

These are my two biggest concerns. Any advice would be greatly aprecciated.
gatechballer
Title #3
Join date: Dec 2007
747 IQ
#2
You'll have to discuss that with each other. We can't decide how that works between the band. If the band splits up though, I would say you would have to sell stuff and split the profit, even though that still kinda sucks, but it's the only way to split up like an amp or something
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gatechballer
Title #3
Join date: Dec 2007
747 IQ
#3
Oh and if your lugging around speakers and cabs and other bulky gear, i'd recommend whoever has the most car space (truck or van) to transport the gear.
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KillRoy Ver 3.0
Symphonic Dischord
Join date: Nov 2003
520 IQ
#4
What ever you decide, you should draw up a band agreement and have everyone sign off on it and a couple of non-members witness for you. That way if things do go south, and some people have a change of heart on who owns what, you've got something in writing.
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jean_genie
Registered User
Join date: Apr 2007
315 IQ
#5
Treat it like a business expense. Write up a contract, and have everyone sign it, along with a witness that is theoretically impartial. The owner of a club you play would work well.

Let's say that there are four of you, and you buy a PA system that costs a thousand dollars. That means you're all in it for $250 each. I wouldn't count tax, as that encourages people to get petty with other things like who ate the most, or who hauled the most gear.

If one of you leaves, the remaining three have the option to buy out his stake in the PA system. This should only be done using personal money, since the PA will be an item of personal ownership. If the three of you can't buy the quitter out evenly among yourselves, then one of you gets an option to buy all of his share yourself. If none of you can afford that, than the third step is to let the quitter buy the rest of you guys out. If none of you can afford to buy anyone out, then you have to sell the gear in a timely fashion for whatever you can get, and split the money four ways.

If anybody buys anyone out, you need to write up a new contract.

If you decide to devalue the PA system (say after a year you decide it's only worth $600), then you need a new contract, otherwise you're all in it for $250 still.

If a fifth guy joins the band, he has zero stake in the PA system, and isn't allowed to buy in unless someone quits (and the three remaining members don't choose to buy out the quitter), or all four members that own the PA mutually agree to let the fifth guy buy in.

If the quitter is being replaced, then the replacement isn't offered a chance to buy the quitter's share unless every one that already has a stake in the PA declines.

Complicated, but safe. If you do things this way, nobody can bitch and moan, since everything is planned out long in advance of the problem occurring.

Anything inexpensive (cables, mic stands, etc.) should just come right out of the band's budget, and shouldn't be owned by anyone. You might lose a little money that way if you leave the band, but the alternative is to keep such a tight watch on people's costs that everyone turns into jerks about it.
MPica
Registered User
Join date: Nov 2009
290 IQ
#6
Quote by jean_genie
Treat it like a business expense. Write up a contract, and have everyone sign it, along with a witness that is theoretically impartial. The owner of a club you play would work well.

Let's say that there are four of you, and you buy a PA system that costs a thousand dollars. That means you're all in it for $250 each. I wouldn't count tax, as that encourages people to get petty with other things like who ate the most, or who hauled the most gear.

If one of you leaves, the remaining three have the option to buy out his stake in the PA system. This should only be done using personal money, since the PA will be an item of personal ownership. If the three of you can't buy the quitter out evenly among yourselves, then one of you gets an option to buy all of his share yourself. If none of you can afford that, than the third step is to let the quitter buy the rest of you guys out. If none of you can afford to buy anyone out, then you have to sell the gear in a timely fashion for whatever you can get, and split the money four ways.

If anybody buys anyone out, you need to write up a new contract.

If you decide to devalue the PA system (say after a year you decide it's only worth $600), then you need a new contract, otherwise you're all in it for $250 still.

If a fifth guy joins the band, he has zero stake in the PA system, and isn't allowed to buy in unless someone quits (and the three remaining members don't choose to buy out the quitter), or all four members that own the PA mutually agree to let the fifth guy buy in.

If the quitter is being replaced, then the replacement isn't offered a chance to buy the quitter's share unless every one that already has a stake in the PA declines.

Complicated, but safe. If you do things this way, nobody can bitch and moan, since everything is planned out long in advance of the problem occurring.

Anything inexpensive (cables, mic stands, etc.) should just come right out of the band's budget, and shouldn't be owned by anyone. You might lose a little money that way if you leave the band, but the alternative is to keep such a tight watch on people's costs that everyone turns into jerks about it.


+1
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axemanchris
Awwww.... NOW what?!
Join date: Aug 2006
2,471 IQ
#7
Good advice, I would say, but let me add this...

The value of the PA should always be rated as "fair market value." So, when you pay $1000 for a new PA, the fair market value is $1000. After five years of use, it's fair market value is $600 or whatever. Because you use the term "fair market value", you don't need to keep changing the agreement.

An alternative to the model above could be this: If one person quits or is fired, they agree to relinquish their share in the PA. It belongs to the business, not them. As long as the band is in business, the PA stays with the business. If the band breaks up, then the asset is liquidated, and the fair market value of that asset is returned to the owners.

Question, though.... if someone quits and is replaced, is the new replacement guy considered an owner? Something to discuss...

But in the end, it's what you all agree on. The key is having an agreement.

CT
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Zycho
Registered User
Join date: Nov 2007
300 IQ
#8
I just wouldn't do it, lot of unnecessary hassle.
Dutch_Apples
UG's Career Advisor
Join date: Oct 2004
1,354 IQ
#9
In any band I have been in, our "band fund" went to promotional materials or design costs so we saw an investment return short term. Start saving to buy your own gear.
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