In the modern age of music a band will not typically make much money from album sales. Physical copies have been overtaken by streaming. Even the most successful groups only attain a marginal amount of profits from online listeners. As a result the industry relies on two things: live gigs and merchandise.
These elements go hand in hand. Gig patrons may be sold merch at the live event. A surprising number of big bands make the bulk of their income this way. The artists need to negotiate the price of tickets with the owners of the venue. The most popular bands are able to sell entry for high fees.
Things To Consider
On the other hand, live tours can be very exhausting. Sites such as the Telegraph have reported stories about bands having to cancel gigs due to fatigue. One common issue is singers damaging their throats from performing on consecutive nights. This can be prevented by having medical professionals on-hand to keep the group as healthy as possible.
Before starting a tour it is vital to have a cohesive budget. The more ambitious the tour the more expensive it will end up being. One of the main aims is to make a decent profit by the end of it. It is a wise idea to consider the worst case scenario. Preparing for it in advance will minimise the financial loss.
As a band becomes experienced at touring they end up falling into a routine. Sometimes musical artists are able to continue playing to audiences for decades. The first few years will be difficult as the group needs to learn how to perform well.