A manager is not obligated to put up one penny. So if you don't have a monthly budget you don't need a manager. If the manager is a family member or friend willing to put up the thousands it takes to set up events, buy merchandise, send out press kits etc.. Then your very lucky but they should be paid back because a manager and investor are two different things. So managers keep your books on point and make the artist pay you back if you are a investor.
I will never be a manager because artists have a distorted vision of what that is exactly. A manager gives advice and they get a percentage of the artists revenue for giving that advice, that's it. The managers pay comes from revenue generated by the artist. Show revenue, merch, appearances etc.. The manager does not usually get money from music sales unless they were involved in the writing or production process. So keeping that in mind you need a very smart manager, someone that is the bridge between you and the music industry. Managers only give advice, that's all they are obligated to do unless something else is discussed.
The manager works for the artist, he is essentially a employee of the artist. This is why good managers usually ask for a retainer most in the range of $1,500 up front and $500-1,300 monthly. Most of this money is used for artist development like websites, marketing, t shirts, press kits, travel etc.. The duties of a manger is as follows.
- Advise artist on goal setting and organization
- Help with business plan or planning
- Help artist come up with quality content by advising on industry standards
- Help artist with scheduling and release dates
- Advise on effective marketing techniques
- Help secure pay shows and appearances because this is the only way the manager makes money
- Help artist develop merchandise, all money invested in merch comes from investors or artist. Artist needs to adjust price of merch to pay manager. Manager does not have to invest. Remember the manager is a employee.
- Help arrange travel for artist on tour and find a tour manager to travel with artist and set up hotels, food etc..
These are a few of the duties of a manager