G
Types of comedians (categorized as business structure)
“Passion and focus, is what you need to be successful in this industry. I put in daily hard work to ensure the preservation and perfection of the lasting quality of my brand. Once you have a vision, you have to become faithful to such. Your commitment to your vision will in a matter of time yield productive result that you will be proud of. For me, I have come to be seen as one with God’s endorsement. Yet I don’t want to rest on that. I want to put in more hard work. Upcoming comedians should not focus on money. They shouldn’t say Alibaba, Ay, Julius Agwu, Basket Mouth are making money and so jump in with such a rash motive. They must focus on development, training and also run their daily assignment on the Job with passion.” _ AY. Host, AY Live Show.
Comedians that intend to take comedies to a professional level should decide like any other typical business either to go solo, or partner as a limited or public limited liability comedian.
A SOLO COMEDIAN
A solo comedian owns, establishes, finances, and controls his enterprise alone. He laps the yummy (profits, fame, goodwill) and yucky stuff in such endeavour. Most stand-up comedians are usually sole comedians.
ADVANTAGES OF A SOLE COMEDIAN: 1. It requires small capital. 1. It’s easy to start. 2. Quick and fast in decision-making. 3. The comedian hogs the profit alone. 4. It easily fits any environment. 5. it’s easy to manage. 6. It attracts little tax. 7. You can moonlight if you like.
DISADVATAGES OF A SOLE COMEDIAN: 1. The Owner bears all risks and losses alone. 2. His property can be sold to settle his creditors when bankrupt. 3. Lacks enough capital. 5. Has limited reach. 6. Limited scope of decision and policymaking. 8. Limited ability
PARTNERSHIP
This occurs when two or more persons come together to pool up skills, money or money’s worth in order to establish, own, and manage the comedy business with the aim of making profit.
ADVANTAGES OF A PARTNERSHIP: 1. Sufficient capital. 2. Joint and better decisions. 3. Increase in output (production). 4. Possibility of expansion. 5. Creation of employment opportunities. 6. Application of division of labor. 7. Sharing of risks and liabilities. 8. It can withstand competition. 9. Varieties of skills and talents. 10. Specialization in management.
DISADVANTAGES OF PARTNERSHIP: 1. Not a legal entity. 2. Unlimited liability. 3. Disagreement between the partners may end the business. 4. Slow in decision and policymaking. 5. Waning personal interest may cause conflict or loss. 6. Limited capital. 7. A partner cannot make secret profit.
LIMITED LIABILITY COMEDIANS
Limited liability involves a comedy organization that operates as a company where individuals jointly pool their resources together. The aim is to establish and own a comedy business venture distinct from their owners. Here the ownership is separated from management. The shareholders are referred to as the owners of the company, but the management is in the hand of a board of directors who ensures that comedians are effectively and efficiently managed to produce comedy products of high demand. They also keep and maintain certain books of accounts. To have such a limited liability comedy venture, it must be registered at the Corporate Affairs Commission.
ADVANTAGES OF LLC:
1. It’s a legal entity that can sue and be sued. 2. Shareholders enjoy limited liabilities. 3. Large capital. 4. Unlimited expansion. 5. Continuity is certain (assured). 6. Ownership is separate from management. 7. Employees may become co owners and comedians at the same time. 8. Enjoyment of large scale comedy productions. 9. Application of division of labor. 10. There is democracy in its administration.
DISADVANTAGES OF LLC:
1. Difficult to establish. 2. Much capital is needed. 3. Delay in policy and decision-making. 4. Since the owners of the business are different from the management there is the risk of them taking the business as “nobody’s business”. 5. Restricts individuals’ initiatives as a result of democracy. 6. Personal interest may decrease. 7. Lack of privacy. 8. Non-flexibility as regards responding to new conditions as it could affect formation of a new company. A
PUBLIC COMEDY ENTERPRISE
A public comedy enterprise is a business organization that is established, owned, managed, and financed with taxpayers’ money by the government. The idea is to provide social services and not to make profits. The comedians are employed by the government to render such utility to the public through the public media. However, this kind of venture is yet to be practiced in Nigeria (not really sure it’s in practice yet in any country, What do I know? hit me up at edialewrites.com if you know of one).
