Budgeting for Theater Productions
When Malini Singh McDonald did Black Henna, for the first show they did a reading, and then they knew they were going to do a full production. They knew the first step would be to think about how much money this was going to cost. That’s always the first step in performing arts. How much money is this going to cost?
It’s so important to think it through, and luckily there are budgets that you can find in online performing arts education to give you an idea of how much each area is going to cost, more or less. Areas to consider are your space, your rehearsal space, because those are two separate things unless you can get a package, PR, music, and licensing.
In McDonald’s experience, they kind of had a budget but then forgot some line items like insurance. They begged, borrowed, and stole before coming up with their current style of finding investors. They just reached out to people and said, “Hey, we need X amount of dollars to get us to this point.” Thankfully, people loved them, and they loved people, so a lot of people were able to just give them the money.
Having learned from this experience though, they ended up in future productions really getting clear about the budget and then thinking about how they’re going to actually fund it. Not to say they don’t beg and borrow anymore. There are times they need to ask for more money because something comes up. One thing to learn in performing arts education is to always expect the unexpected.
For example, let’s say you budgeted $2,500 for this line item, and then it turns out to be $4,000 just because stuff happens. Plan ahead, stick to your budget, but budget for the unexpected.
