{"product_id":"cigar-box-guitar-making-owner-makes","title":"How Much Does A Cigar Box Guitar Workshop Owner Make? $65k To $152M","description":"\u003cbr\u003e\u003cdiv class=\"card_smpl\"\u003e\n\u003cp\u003eA cigar box guitar workshop owner can make about \u003cstrong\u003e$65k in Year 1\u003c\/strong\u003e if they are also the lead instructor, but the business itself still shows \u003cstrong\u003e-$33k EBITDA\u003c\/strong\u003e in the researched assumptions By Year 2, the model reaches \u003cstrong\u003e$386k revenue\u003c\/strong\u003e and \u003cstrong\u003e$51k EBITDA\u003c\/strong\u003e, so owner earnings could reach about \u003cstrong\u003e$116k pre-tax\u003c\/strong\u003e before reserves if the owner keeps the $65k instructor role In Year 5, revenue reaches \u003cstrong\u003e$2171M\u003c\/strong\u003e and EBITDA reaches \u003cstrong\u003e$1455M\u003c\/strong\u003e, but that assumes 26 billable days per month, 85% occupancy, higher pricing, and more staffing Treat these as operating scenarios, not promised take-home pay\u003c\/p\u003e\n\n\n\u003c\/div\u003e\u003cbr\u003e\u003cbr\u003e\u003csection class=\"fml-owner-metric-cards\" aria-label=\"Top Owner Income KPI Cards\"\u003e\u003cdiv class=\"metric-grid\"\u003e\n\u003carticle class=\"metric-card is-green\"\u003e\u003cspan class=\"metric-icon-tip\" tabindex=\"0\" data-tooltip=\"Year 1 is salary-only; Year 5 adds EBITDA to salary. Before taxes, debt, reserves, and living costs; model-based planning estimate.\"\u003e\u003cimg class=\"metric-icon\" src=\"\/cdn\/shop\/files\/fml-owner-income-kpi-owner-income.svg\" alt=\"Owner income icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003eOwner income\u003c\/span\u003e\u003cstrong class=\"metric-value\" tabindex=\"0\" data-tooltip=\"Year 1 is salary-only; Year 5 adds EBITDA to salary. Before taxes, debt, reserves, and living costs; model-based planning estimate.\"\u003e$65k–$1.52M\u003c\/strong\u003e\u003c\/article\u003e\u003carticle class=\"metric-card\"\u003e\u003cspan class=\"metric-icon-tip\" tabindex=\"0\" data-tooltip=\"EBITDA margin equals EBITDA divided by revenue. Year 1 is -15%; Year 5 is 67%. Excludes taxes, interest, and owner draws.\"\u003e\u003cimg class=\"metric-icon\" src=\"\/cdn\/shop\/files\/fml-owner-income-kpi-net-margin.svg\" alt=\"Net margin icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003eNet margin\u003c\/span\u003e\u003cstrong class=\"metric-value\" tabindex=\"0\" data-tooltip=\"EBITDA margin equals EBITDA divided by revenue. Year 1 is -15%; Year 5 is 67%. Excludes taxes, interest, and owner draws.\"\u003e-15% to 67%\u003c\/strong\u003e\u003c\/article\u003e\u003carticle class=\"metric-card\"\u003e\u003cspan class=\"metric-icon-tip\" tabindex=\"0\" data-tooltip=\"Annual revenue to support a $65k owner-pay goal, based on Year 1 cost rates. Before taxes, reserves, and any debt service.\"\u003e\u003cimg class=\"metric-icon\" src=\"\/cdn\/shop\/files\/fml-owner-income-kpi-revenue-target.svg\" alt=\"Revenue for target pay icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003eRevenue for target pay\u003c\/span\u003e\u003cstrong class=\"metric-value\" tabindex=\"0\" data-tooltip=\"Annual revenue to support a $65k owner-pay goal, based on Year 1 cost rates. Before taxes, reserves, and any debt service.\"\u003e$320k\u003c\/strong\u003e\u003c\/article\u003e\u003carticle class=\"metric-card\"\u003e\u003cspan class=\"metric-icon-tip\" tabindex=\"0\" data-tooltip=\"Year 1 EBITDA is negative, cash bottoms at month 24, and payback takes 29 months. Staffing and build-out drive the risk.\"\u003e\u003cimg class=\"metric-icon\" src=\"\/cdn\/shop\/files\/fml-owner-income-kpi-business-difficulty.svg\" alt=\"Business difficulty icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003eBusiness difficulty\u003c\/span\u003e\u003cstrong class=\"metric-value\" tabindex=\"0\" data-tooltip=\"Year 1 EBITDA is negative, cash bottoms at month 24, and payback takes 29 months. Staffing and build-out drive the risk.\"\u003eHard\u003c\/strong\u003e\u003c\/article\u003e\n\u003c\/div\u003e\u003c\/section\u003e\u003cbr\u003e\u003ch2\u003e\u003cspan style=\"color: #126CFF;\"\u003eWant to test your owner pay?\n\u003c\/span\u003e\u003c\/h2\u003e\n\u003csection class=\"fml-owner-calculator\" aria-label=\"Sample Business Owner Income Calculator\" data-locale=\"en-US\" data-currency=\"USD\" data-default-scenario=\"base\" data-export-filename=\"Sample Business Owner Income Calculator.xlsx\" data-source-site-name=\"Financial Models Lab\" data-source-site-url=\"https:\/\/financialmodelslab.com\" data-source-page-title=\"Sample Business Owner Income Calculator\" data-note-title=\"Planning note:\" data-note-text=\"Research-based planning estimate only. It is not guaranteed salary, tax advice, or owner distribution advice.\"\u003e\u003cdiv class=\"fml-owner-card\"\u003e\n\u003cheader class=\"fml-owner-header\"\u003e\u003cdiv class=\"fml-owner-heading\"\u003e\n\u003cp class=\"fml-owner-eyebrow\"\u003eOwner income calculator\u003c\/p\u003e\n\u003cp class=\"fml-owner-intro\"\u003eEstimate owner take-home and the target-pay gap from revenue, margin, costs, reserves, and your pay goal.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-scenarios\" aria-label=\"Income scenario presets\"\u003e\n\u003cbutton class=\"fml-owner-scenario\" type=\"button\" data-scenario=\"low\"\u003eLow\u003c\/button\u003e\u003cbutton class=\"fml-owner-scenario is-active\" type=\"button\" data-scenario=\"base\"\u003eBase\u003c\/button\u003e\u003cbutton class=\"fml-owner-scenario\" type=\"button\" data-scenario=\"high\"\u003eHigh\u003c\/button\u003e\n\u003c\/div\u003e\u003c\/header\u003e\u003cdiv class=\"fml-owner-layout\"\u003e\n\u003cform class=\"fml-owner-inputs\"\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eMonthly revenue\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Monthly sales collected before expenses. Use the average operating month, not a launch spike.\"\u003ei\u003cspan role=\"tooltip\"\u003eMonthly sales collected before expenses. Use the average operating month, not a launch spike.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-money\"\u003e\n\u003cspan\u003e$\u003c\/span\u003e\u003cinput data-owner-field=\"monthlyRevenue\" data-owner-kind=\"money\" data-owner-label=\"Monthly revenue\" data-owner-note=\"Monthly sales collected before expenses. Use the average operating month, not a launch spike.\" data-low=\"18667\" data-base=\"67750\" data-high=\"180917\" name=\"monthlyRevenue\" type=\"text\" inputmode=\"numeric\" value=\"67,750\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eGross margin\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Percent left after direct kit and consumable costs, before labor and overhead.\"\u003ei\u003cspan role=\"tooltip\"\u003ePercent left after direct kit and consumable costs, before labor and overhead.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-percent\"\u003e\n\u003cinput data-owner-field=\"grossMargin\" data-owner-kind=\"percent\" data-owner-label=\"Gross margin\" data-owner-note=\"Percent left after direct kit and consumable costs, before labor and overhead.\" name=\"grossMargin\" type=\"range\" min=\"0\" max=\"100\" step=\"1\" data-low=\"87\" data-base=\"88.4\" data-high=\"89.8\" value=\"88.4\"\u003e\u003coutput\u003e88.4%\u003c\/output\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eLabor cost\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Monthly payroll and contractor coverage before owner pay.\"\u003ei\u003cspan role=\"tooltip\"\u003eMonthly payroll and contractor coverage before owner pay.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-money\"\u003e\n\u003cspan\u003e$\u003c\/span\u003e\u003cinput data-owner-field=\"laborCost\" data-owner-kind=\"money\" data-owner-label=\"Labor cost\" data-owner-note=\"Monthly payroll and contractor coverage before owner pay.\" data-low=\"11333\" data-base=\"17750\" data-high=\"21250\" name=\"laborCost\" type=\"text\" inputmode=\"numeric\" value=\"17,750\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eFixed overhead\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Studio rent, utilities, insurance, software, repairs, and professional services.\"\u003ei\u003cspan role=\"tooltip\"\u003eStudio rent, utilities, insurance, software, repairs, and professional services.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-money\"\u003e\n\u003cspan\u003e$\u003c\/span\u003e\u003cinput data-owner-field=\"fixedOverhead\" data-owner-kind=\"money\" data-owner-label=\"Fixed overhead\" data-owner-note=\"Studio rent, utilities, insurance, software, repairs, and professional services.\" data-low=\"4580\" data-base=\"4580\" data-high=\"4580\" name=\"fixedOverhead\" type=\"text\" inputmode=\"numeric\" value=\"4,580\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eMarketing\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Monthly customer acquisition spend to fill classes, parties, and events.\"\u003ei\u003cspan role=\"tooltip\"\u003eMonthly customer acquisition spend to fill classes, parties, and events.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-money\"\u003e\n\u003cspan\u003e$\u003c\/span\u003e\u003cinput data-owner-field=\"marketing\" data-owner-kind=\"money\" data-owner-label=\"Marketing\" data-owner-note=\"Monthly customer acquisition spend to fill classes, parties, and events.\" data-low=\"933\" data-base=\"2710\" data-high=\"5427\" name=\"marketing\" type=\"text\" inputmode=\"numeric\" value=\"2,710\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eDebt service\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Monthly loan or financing payment, if any.\"\u003ei\u003cspan role=\"tooltip\"\u003eMonthly loan or financing payment, if any.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-money\"\u003e\n\u003cspan\u003e$\u003c\/span\u003e\u003cinput data-owner-field=\"debtService\" data-owner-kind=\"money\" data-owner-label=\"Debt service\" data-owner-note=\"Monthly loan or financing payment, if any.\" data-low=\"0\" data-base=\"0\" data-high=\"0\" name=\"debtService\" type=\"text\" inputmode=\"numeric\" value=\"\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eTax reserve\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Percent of profit set aside for taxes before owner take-home.\"\u003ei\u003cspan role=\"tooltip\"\u003ePercent of profit set aside for taxes before owner take-home.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-percent\"\u003e\n\u003cinput data-owner-field=\"taxReserve\" data-owner-kind=\"percent\" data-owner-label=\"Tax reserve\" data-owner-note=\"Percent of profit set aside for taxes before owner take-home.\" name=\"taxReserve\" type=\"range\" min=\"0\" max=\"45\" step=\"1\" data-low=\"18\" data-base=\"24\" data-high=\"28\" value=\"24\"\u003e\u003coutput\u003e24%\u003c\/output\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eReinvestment reserve\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Percent kept for repairs, new tools, and cash buffer.\"\u003ei\u003cspan role=\"tooltip\"\u003ePercent kept for repairs, new tools, and cash buffer.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-percent\"\u003e\n\u003cinput data-owner-field=\"reinvestmentReserve\" data-owner-kind=\"percent\" data-owner-label=\"Reinvestment reserve\" data-owner-note=\"Percent kept for repairs, new tools, and cash buffer.\" name=\"reinvestmentReserve\" type=\"range\" min=\"0\" max=\"35\" step=\"1\" data-low=\"5\" data-base=\"10\" data-high=\"14\" value=\"10\"\u003e\u003coutput\u003e10%\u003c\/output\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-row\"\u003e\n\u003clabel class=\"fml-owner-label\"\u003e\u003cspan\u003eTarget owner pay\u003c\/span\u003e\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Monthly owner income goal used to measure the target-pay gap.\"\u003ei\u003cspan role=\"tooltip\"\u003eMonthly owner income goal used to measure the target-pay gap.\u003c\/span\u003e\u003c\/span\u003e\u003c\/label\u003e\u003cdiv class=\"fml-owner-money\"\u003e\n\u003cspan\u003e$\u003c\/span\u003e\u003cinput data-owner-field=\"targetOwnerPay\" data-owner-kind=\"money\" data-owner-label=\"Target owner pay\" data-owner-note=\"Monthly owner income goal used to measure the target-pay gap.\" data-low=\"4000\" data-base=\"5500\" data-high=\"8500\" name=\"targetOwnerPay\" type=\"text\" inputmode=\"numeric\" value=\"5,500\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/form\u003e\n\u003caside class=\"fml-owner-results\" aria-live=\"polite\"\u003e\u003cspan class=\"fml-owner-tag\"\u003eOwner income output\u003c\/span\u003e\u003cdiv class=\"fml-owner-metrics\"\u003e\n\u003cdiv class=\"fml-owner-metric is-primary\"\u003e\n\u003cspan class=\"fml-owner-metric-label\"\u003eOwner Income\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Monthly take-home after tax and reinvestment reserves.\"\u003ei\u003cspan role=\"tooltip\"\u003eMonthly take-home after tax and reinvestment reserves.\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003cstrong data-owner-output=\"monthlyOwnerIncome\"\u003e$23,002\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-metric\"\u003e\n\u003cspan class=\"fml-owner-metric-label\"\u003eNet Margin\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Owner income divided by monthly revenue.\"\u003ei\u003cspan role=\"tooltip\"\u003eOwner income divided by monthly revenue.\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003cstrong data-owner-output=\"netProfitMargin\"\u003e34%\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-metric\"\u003e\n\u003cspan class=\"fml-owner-metric-label\"\u003eRevenue for Target Pay\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Monthly revenue needed to support the target owner pay.\"\u003ei\u003cspan role=\"tooltip\"\u003eMonthly revenue needed to support the target owner pay.\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003cstrong data-owner-output=\"revenueNeeded\"\u003e$37,753\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-metric is-target-gap is-positive\"\u003e\n\u003cspan class=\"fml-owner-metric-label\"\u003eTarget Pay Gap\u003cspan class=\"fml-owner-tooltip\" tabindex=\"0\" aria-label=\"Owner income minus target owner pay. Negative means the target pay is not covered.\"\u003ei\u003cspan role=\"tooltip\"\u003eOwner income minus target owner pay. Negative means the target pay is not covered.\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003cstrong data-owner-output=\"targetPayGap\"\u003e$17,502\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdl class=\"fml-owner-result-list\"\u003e\n\u003cdiv\u003e\n\u003cdt\u003eAnnual owner income\u003c\/dt\u003e\n\u003cdd data-owner-output=\"annualOwnerIncome\"\u003e$276,024\u003c\/dd\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\n\u003cdt\u003eProfit before reserves\u003c\/dt\u003e\n\u003cdd data-owner-output=\"profitBeforeReserves\"\u003e$34,851\u003c\/dd\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\n\u003cdt\u003eTax + reinvestment reserve\u003c\/dt\u003e\n\u003cdd data-owner-output=\"reserveAmount\"\u003e$11,849\u003c\/dd\u003e\n\u003c\/div\u003e\n\u003cdiv\u003e\n\u003cdt\u003eTarget pay gap\u003c\/dt\u003e\n\u003cdd data-owner-output=\"cashAfterTargetPay\"\u003e$17,502\u003c\/dd\u003e\n\u003c\/div\u003e\n\u003c\/dl\u003e\n\u003cdiv class=\"fml-owner-bridge\"\u003e\n\u003cdiv class=\"fml-owner-bar-row\" data-owner-bridge=\"revenue\"\u003e\n\u003cspan\u003eRevenue\u003c\/span\u003e\u003cdiv\u003e\u003ci style=\"--fml-owner-share: 100%;\"\u003e\u003c\/i\u003e\u003c\/div\u003e\n\u003cb data-owner-bridge-value\u003e$67,750\u003c\/b\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-bar-row\" data-owner-bridge=\"grossProfit\"\u003e\n\u003cspan\u003eGross profit\u003c\/span\u003e\u003cdiv\u003e\u003ci style=\"--fml-owner-share: 88%;\"\u003e\u003c\/i\u003e\u003c\/div\u003e\n\u003cb data-owner-bridge-value\u003e$59,891\u003c\/b\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-bar-row\" data-owner-bridge=\"operatingCosts\"\u003e\n\u003cspan\u003eOperating costs\u003c\/span\u003e\u003cdiv\u003e\u003ci style=\"--fml-owner-share: 37%;\"\u003e\u003c\/i\u003e\u003c\/div\u003e\n\u003cb data-owner-bridge-value\u003e$25,040\u003c\/b\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-bar-row\" data-owner-bridge=\"reserveAmount\"\u003e\n\u003cspan\u003eReserves\u003c\/span\u003e\u003cdiv\u003e\u003ci style=\"--fml-owner-share: 17%;\"\u003e\u003c\/i\u003e\u003c\/div\u003e\n\u003cb data-owner-bridge-value\u003e$11,849\u003c\/b\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-bar-row\" data-owner-bridge=\"ownerIncome\"\u003e\n\u003cspan\u003eOwner income\u003c\/span\u003e\u003cdiv\u003e\u003ci style=\"--fml-owner-share: 34%;\"\u003e\u003c\/i\u003e\u003c\/div\u003e\n\u003cb data-owner-bridge-value\u003e$23,002\u003c\/b\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"fml-owner-export\" type=\"button\" data-owner-export\u003eEXPORT XLSX\u003c\/button\u003e\u003c\/aside\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-owner-note\"\u003e\n\u003cspan class=\"fml-owner-note-icon\" aria-hidden=\"true\"\u003e!\u003c\/span\u003e\u003cp\u003e\u003cstrong\u003ePlanning note:\u003c\/strong\u003e Research-based planning estimate only. It is not guaranteed salary, tax advice, or owner distribution advice.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003c\/section\u003e\u003cbr\u003e\u003cdiv class=\"container_new_design_blog\"\u003e\n\n\u003cdiv class=\"text-section_blog text-2_new_design_blog\"\u003e\n\n\u003cdiv class=\"line_top_blog\"\u003e\u003cbr\u003e\u003c\/div\u003e\n\n\u003ch3\u003e\u003cspan style=\"color: #126CFF;\"\u003eWant the full workshop income model?\u003c\/span\u003e\u003c\/h3\u003e\n\n\u003cp\u003eThis dashboard shows revenue, EBITDA, costs, cash reserves, breakeven, and owner pay in the \u003ca href=\"\/products\/cigar-box-guitar-making-financial-model\"\u003eCigar Box Guitar Workshop Financial Model Template\u003c\/a\u003e. Open it.\u003c\/p\u003e\n\n\u003ch4\u003eOwner-income model highlights\u003c\/h4\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003eOwner pay and cash\u003c\/li\u003e\n\u003cli\u003eYear 1 vs Year 5\u003c\/li\u003e\n\u003cli\u003eMonth 14 breakeven\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003c\/div\u003e\n\n\u003cdiv class=\"image-section_blog image-2_new_design_blog\"\u003e\n\n\u003cdiv class=\"preview-card\" data-preview-src=\"\/cdn\/shop\/files\/cigar-box-guitar-making-financial-model-dashboard-financialmodelslab_1086ae9e-310e-460c-afdc-e36523c0e6f2.webp\"\u003e\n\u003cimg class=\"preview-img\" width=\"100%\" height=\"auto\" src=\"\/cdn\/shop\/files\/cigar-box-guitar-making-financial-model-dashboard-financialmodelslab_1086ae9e-310e-460c-afdc-e36523c0e6f2.webp?width=500\" alt=\"Cigar Box Guitar Workshop Financial Model dashboard summarizing key KPIs, runway and cash position with a dynamic dashboard for performance tracking, investor-ready visuals and cash-flow clarity\"\u003e\n\u003cdiv class=\"preview-overlay\"\u003e\n\u003cbutton class=\"preview-btn\" type=\"button\" style=\"align-items: center; vertical-align: middle; display: inline-flex; justify-content: center; gap: 6px; line-height: 1;\"\u003e\nPREVIEW \u003csvg fill=\"#fff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\" role=\"presentation\" viewbox=\"0 0 448 512\" width=\"14\"\u003e\u003cpath d=\"M416 176V86.63L246.6 256L416 425.4V336c0-8.844 7.156-16 16-16s16 7.156 16 16v128c0 8.844-7.156 16-16 16h-128c-8.844 0-16-7.156-16-16s7.156-16 16-16h89.38L224 278.6L54.63 448H144C152.8 448 160 455.2 160 464S152.8 480 144 480h-128C7.156 480 0 472.8 0 464v-128C0 327.2 7.156 320 16 320S32 327.2 32 336v89.38L201.4 256L32 86.63V176C32 184.8 24.84 192 16 192S0 184.8 0 176v-128C0 39.16 7.156 32 16 32h128C152.8 32 160 39.16 160 48S152.8 64 144 64H54.63L224 233.4L393.4 64H304C295.2 64 288 56.84 288 48S295.2 32 304 32h128C440.8 32 448 39.16 448 48v128C448 184.8 440.8 192 432 192S416 184.8 416 176z\"\u003e\u003c\/path\u003e\u003c\/svg\u003e\n\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\n\u003c\/div\u003e\n\u003c\/div\u003e\n\n\u003ch2\u003e\u003cspan style=\"color: #126CFF;\"\u003eWhat are the main cigar box guitar workshop costs?\u003c\/span\u003e\u003c\/h2\u003e\u003cbr\u003e\n\u003cp\u003eIf you’re pricing a \u003cstrong\u003eCigar Box Guitar Workshop\u003c\/strong\u003e, the main costs are mostly variable at first: \u003cstrong\u003e13%\u003c\/strong\u003e for instrument kits and consumables, plus \u003cstrong\u003e5%\u003c\/strong\u003e marketing and \u003cstrong\u003e2%\u003c\/strong\u003e booking commissions, so \u003cstrong\u003e20%\u003c\/strong\u003e of revenue moves with each student. The fixed load is lighter but still real, with \u003cstrong\u003e$4,580\u003c\/strong\u003e per month in overhead and payroll starting with \u003cstrong\u003e$65k\u003c\/strong\u003e for the lead instructor, \u003cstrong\u003e$21k\u003c\/strong\u003e for the assistant, and \u003cstrong\u003e$50k\u003c\/strong\u003e for sales and admin; if you’re mapping the full build, see \u003ca href=\"\/blogs\/write-business-plan\/cigar-box-guitar-making\"\u003eHow To Write A Business Plan For Cigar Box Guitar Workshop?\u003c\/a\u003e\u003c\/p\u003e\n\u003cdiv class=\"container_2_clmn_row\"\u003e\n\u003cdiv class=\"card_smpl blue_card\"\u003e\n\u003cdiv class=\"card_smpl_header\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/fml_20_fml-Orange-blog-colons-icon.svg\" alt=\"Icon\" class=\"icon_how_to_use\"\u003e\u003ch3\u003ePer-student costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003e\n\u003cstrong\u003e11%\u003c\/strong\u003e for material kits\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e2%\u003c\/strong\u003e for consumables\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e5%\u003c\/strong\u003e for marketing\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e2%\u003c\/strong\u003e for booking commissions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"card_smpl\"\u003e\n\u003cdiv class=\"card_smpl_header\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/fml_20_fml-Orange-blog-intro-icon.svg\" alt=\"Icon\" class=\"icon_how_to_use\"\u003e\u003ch3\u003eFixed and startup\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003e\n\u003cstrong\u003e$4,580\u003c\/strong\u003e monthly overhead\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e$136k\u003c\/strong\u003e starter payroll total\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e$555k\u003c\/strong\u003e startup capex\u003c\/li\u003e\n\u003cli\u003eTools, benches, dust collection\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003ch2\u003e\u003cspan style=\"color: #126CFF;\"\u003eWhat should you charge for a cigar box guitar workshop?\u003c\/span\u003e\u003c\/h2\u003e\u003cbr\u003e\n\u003cp\u003eCharge by event type, not one universal price. For \u003cstrong\u003eCigar Box Guitar Workshop\u003c\/strong\u003e, Year 1 pricing is \u003cstrong\u003e$145\u003c\/strong\u003e for a public workshop, \u003cstrong\u003e$160\u003c\/strong\u003e for a private party, and \u003cstrong\u003e$225\u003c\/strong\u003e for a corporate event; at \u003cstrong\u003e20%\u003c\/strong\u003e variable costs, a \u003cstrong\u003e$145\u003c\/strong\u003e ticket leaves about \u003cstrong\u003e$116\u003c\/strong\u003e before fixed costs. Year 5 can move to \u003cstrong\u003e$175\u003c\/strong\u003e, \u003cstrong\u003e$195\u003c\/strong\u003e, and \u003cstrong\u003e$280\u003c\/strong\u003e if the class runs longer, the finished instrument feels better, and the event experience supports the fee.\u003c\/p\u003e\n\u003cdiv class=\"container_2_clmn_row\"\u003e\n\u003cdiv class=\"card_smpl\"\u003e\n\u003cdiv class=\"card_smpl_header\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/fml_20_fml-Orange-blog-intro-icon.svg\" alt=\"Icon\" class=\"icon_how_to_use\"\u003e\u003ch3\u003eYear 1 pricing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003e\n\u003cstrong\u003e$145\u003c\/strong\u003e public workshop\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e$160\u003c\/strong\u003e private party\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e$225\u003c\/strong\u003e corporate event\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e20%\u003c\/strong\u003e variable costs\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"card_smpl blue_card\"\u003e\n\u003cdiv class=\"card_smpl_header\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/fml_20_fml-Orange-blog-colons-icon.svg\" alt=\"Icon\" class=\"icon_how_to_use\"\u003e\u003ch3\u003eYear 5 pricing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003e\n\u003cstrong\u003e$175\u003c\/strong\u003e public workshop\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e$195\u003c\/strong\u003e private party\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e$280\u003c\/strong\u003e corporate event\u003c\/li\u003e\n\u003cli\u003eFill rate beats posted price\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003ch2\u003e\u003cspan style=\"color: #126CFF;\"\u003eCan a cigar box guitar workshop be a full-time business?\u003c\/span\u003e\u003c\/h2\u003e\u003cbr\u003e\n\u003cp\u003eA \u003cstrong\u003eCigar Box Guitar Workshop\u003c\/strong\u003e can be full-time, but only after it moves past hobby-class volume. Here’s the quick math: Year 1 is \u003cstrong\u003e$224k\u003c\/strong\u003e revenue and \u003cstrong\u003e-$33k EBITDA\u003c\/strong\u003e at \u003cstrong\u003e18 billable days\u003c\/strong\u003e and \u003cstrong\u003e45% occupancy\u003c\/strong\u003e; Year 2 reaches \u003cstrong\u003e$386k\u003c\/strong\u003e revenue and \u003cstrong\u003e$51k EBITDA\u003c\/strong\u003e at \u003cstrong\u003e20 billable days\u003c\/strong\u003e and \u003cstrong\u003e55% occupancy\u003c\/strong\u003e. By Year 5, it works best at \u003cstrong\u003e26 billable days\u003c\/strong\u003e, \u003cstrong\u003e85% occupancy\u003c\/strong\u003e, \u003cstrong\u003e30-person\u003c\/strong\u003e corporate capacity, and \u003cstrong\u003e$35k\u003c\/strong\u003e in accessory sales, because founder time becomes the bottleneck if every session depends on the owner.\u003c\/p\u003e\n\u003cdiv class=\"container_2_clmn_row\"\u003e\n\u003cdiv class=\"card_smpl\"\u003e\n\u003cdiv class=\"card_smpl_header\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/fml_20_fml-Orange-blog-intro-icon.svg\" alt=\"Icon\" class=\"icon_how_to_use\"\u003e\u003ch3\u003eFull-time only after scale\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003e\n\u003cstrong\u003eYear 1:\u003c\/strong\u003e $224k revenue, -$33k EBITDA\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e18 billable days\u003c\/strong\u003e per month\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e45% occupancy\u003c\/strong\u003e keeps volume low\u003c\/li\u003e\n\u003cli\u003eOwner still teaches most sessions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"card_smpl blue_card\"\u003e\n\u003cdiv class=\"card_smpl_header\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/fml_20_fml-Orange-blog-colons-icon.svg\" alt=\"Icon\" class=\"icon_how_to_use\"\u003e\u003ch3\u003eWhat makes it work\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003e\n\u003cstrong\u003eYear 2:\u003c\/strong\u003e $386k revenue, $51k EBITDA\u003c\/li\u003e\n\u003cli\u003e\n\u003cstrong\u003e20 billable days\u003c\/strong\u003e and \u003cstrong\u003e55% occupancy\u003c\/strong\u003e\n\u003c\/li\u003e\n\u003cli\u003eScale with corporate events and private parties\u003c\/li\u003e\n\u003cli\u003eUse assistant instructors and take-home kits\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\n\n\u003ch2\u003e\u003cspan style=\"color: #126CFF;\"\u003eWant the six drivers of owner income?\n\u003c\/span\u003e\u003c\/h2\u003e\n\u003csection class=\"fml-main-income-drivers\" aria-label=\"Accessible label for the Main Income Drivers card grid.\"\u003e\u003carticle class=\"driver-option is-cards\"\u003e\u003cdiv class=\"main-driver-grid\"\u003e\n\u003carticle class=\"main-driver-card is-primary\"\u003e\u003cdiv class=\"main-driver-heading\"\u003e\n\u003cspan class=\"driver-rank\"\u003e1\u003c\/span\u003e\u003ch4\u003eClass Volume\u003c\/h4\u003e\n\u003c\/div\u003e\n\u003cstrong\u003e18-26\/mo\u003c\/strong\u003e\u003cp\u003eMore billable days and fuller seats spread fixed costs across more tickets, so take-home rises fastest here.\u003c\/p\u003e\u003c\/article\u003e\u003carticle class=\"main-driver-card\"\u003e\u003cdiv class=\"main-driver-heading\"\u003e\n\u003cspan class=\"driver-rank\"\u003e2\u003c\/span\u003e\u003ch4\u003eTicket Price\u003c\/h4\u003e\n\u003c\/div\u003e\n\u003cstrong\u003e$145-$280\u003c\/strong\u003e\u003cp\u003eHigher class prices lift revenue per seat without much extra cost, so pricing flows straight into profit.\u003c\/p\u003e\u003c\/article\u003e\u003carticle class=\"main-driver-card\"\u003e\u003cdiv class=\"main-driver-heading\"\u003e\n\u003cspan class=\"driver-rank\"\u003e3\u003c\/span\u003e\u003ch4\u003eKit Cost\u003c\/h4\u003e\n\u003c\/div\u003e\n\u003cstrong\u003e13%-10.2%\u003c\/strong\u003e\u003cp\u003eLower kit and consumable cost keeps more of each sale, and small savings compound across every build.\u003c\/p\u003e\u003c\/article\u003e\u003carticle class=\"main-driver-card\"\u003e\u003cdiv class=\"main-driver-heading\"\u003e\n\u003cspan class=\"driver-rank\"\u003e4\u003c\/span\u003e\u003ch4\u003eOverhead Load\u003c\/h4\u003e\n\u003c\/div\u003e\n\u003cstrong\u003e$4.6K\/mo\u003c\/strong\u003e\u003cp\u003eRent, utilities, insurance, and payroll set the break-even floor, so this load decides how much sales turn into profit.\u003c\/p\u003e\u003c\/article\u003e\u003carticle class=\"main-driver-card\"\u003e\u003cdiv class=\"main-driver-heading\"\u003e\n\u003cspan class=\"driver-rank\"\u003e5\u003c\/span\u003e\u003ch4\u003eAdd-On Sales\u003c\/h4\u003e\n\u003c\/div\u003e\n\u003cstrong\u003e$800-$3.5K\u003c\/strong\u003e\u003cp\u003eAccessory sales and private events add revenue on top of class fees, which lifts owner cash with limited extra labor.\u003c\/p\u003e\u003c\/article\u003e\u003carticle class=\"main-driver-card\"\u003e\u003cdiv class=\"main-driver-heading\"\u003e\n\u003cspan class=\"driver-rank\"\u003e6\u003c\/span\u003e\u003ch4\u003eStaffing\u003c\/h4\u003e\n\u003c\/div\u003e\n\u003cstrong\u003e0.5-2.5 FTE\u003c\/strong\u003e\u003cp\u003eMore assistant coverage lets the workshop handle growth, but payroll rises fast if seats do not fill.\u003c\/p\u003e\u003c\/article\u003e\n\u003c\/div\u003e\u003c\/article\u003e\u003c\/section\u003e\u003cbr\u003e\u003ch2\u003e\u003cspan style=\"color: #126CFF;\"\u003eCigar Box Guitar Workshop Core Six Income Drivers\u003c\/span\u003e\u003c\/h2\u003e\u003cbr\u003e\u003cbr\u003e\n\u003ch3\u003e\u003cspan style=\"color: #126CFF;\"\u003eClass Volume And Paid Seats\u003c\/span\u003e\u003c\/h3\u003e\u003cbr\u003e\n\u003cdiv class=\"container_new_design_timeline\"\u003e\n  \u003cdiv class=\"left-row1\"\u003e\n    \u003ch3\u003ePaid Seats\u003c\/h3\u003e\n    \u003cp\u003eThis is the biggest income driver because each paid seat spreads the same prep, tool, and teaching time over more revenue. Year 1 assumes \u003cstrong\u003e18 billable days per month\u003c\/strong\u003e at \u003cstrong\u003e45% occupancy\u003c\/strong\u003e; Year 5 assumes \u003cstrong\u003e26 billable days\u003c\/strong\u003e at \u003cstrong\u003e85% occupancy\u003c\/strong\u003e. Capacity also rises, with public workshops moving from \u003cstrong\u003e12 to 15 seats\u003c\/strong\u003e, private parties from \u003cstrong\u003e10 to 12\u003c\/strong\u003e, and corporate events from \u003cstrong\u003e20 to 30\u003c\/strong\u003e.\u003c\/p\u003e\n    \u003cp\u003eHere’s the catch: owner workload, weekend demand, and local marketing can cap volume before rent does. If fill rate stays weak, extra seats create empty chairs; if utilization rises, contribution improves fast before you add more rent or staff. The real test is simple: can the business sell the added seat, not just list it?\u003c\/p\u003e\n  \u003c\/div\u003e\n  \u003cdiv class=\"right-row1\"\u003e\n    \u003cdiv class=\"tips-box\"\u003e\n      \u003ch3\u003eTrack Fill Rate\u003c\/h3\u003e\n      \u003cp\u003eMeasure \u003cstrong\u003ebillable days\u003c\/strong\u003e, \u003cstrong\u003eseats offered\u003c\/strong\u003e, \u003cstrong\u003eseats sold\u003c\/strong\u003e, and \u003cstrong\u003eoccupancy\u003c\/strong\u003e by class type. That shows whether income is coming from more classes, fuller classes, or both. It also helps you see when weekend demand is strong enough to support higher volume and when marketing is the bottleneck.\u003c\/p\u003e\n      \u003cul class=\"lst_crct_blog\"\u003e\n        \u003cli\u003eWatch paid seats per class type.\u003c\/li\u003e\n        \u003cli\u003eSeparate weekday and weekend fill.\u003c\/li\u003e\n        \u003cli\u003eTest capacity before adding rent.\u003c\/li\u003e\n        \u003cli\u003eUse fuller classes to lift margin.\u003c\/li\u003e\n      \u003c\/ul\u003e\n    \u003c\/div\u003e\n  \u003c\/div\u003e\n  \u003cdiv class=\"timeline\"\u003e\u003c\/div\u003e\n  \u003cdiv class=\"step-circle step1\"\u003e1\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003cbr\u003e\u003ch3\u003e\u003cspan style=\"color: #126CFF;\"\u003eTicket Price And Tuition Revenue\u003c\/span\u003e\u003c\/h3\u003e\u003cbr\u003e\n\u003cdiv class=\"container_new_design_timeline\"\u003e\n\u003cdiv class=\"right-row2\"\u003e\n\u003ch3\u003eTicket Price And Tuition Revenue\u003c\/h3\u003e\n\u003cp\u003e\u003cstrong\u003eTicket price\u003c\/strong\u003e is a direct revenue lever: if fill rate holds, higher tuition lifts owner income fast. Year 1 pricing is \u003cstrong\u003e$145\u003c\/strong\u003e public, \u003cstrong\u003e$160\u003c\/strong\u003e private, and \u003cstrong\u003e$225\u003c\/strong\u003e corporate; Year 5 rises to \u003cstrong\u003e$175\u003c\/strong\u003e, \u003cstrong\u003e$195\u003c\/strong\u003e, and \u003cstrong\u003e$280\u003c\/strong\u003e. On \u003cstrong\u003e100 paid seats\u003c\/strong\u003e, every \u003cstrong\u003e$10\u003c\/strong\u003e increase adds \u003cstrong\u003e$1,000\u003c\/strong\u003e in revenue before variable costs.\u003c\/p\u003e\n\u003cp\u003eThe catch is occupancy. If a higher fee cuts seats sold, take-home pay can fall even as price rises. The key inputs are seat mix, fill rate, and variable cost per seat, because those decide how much of each extra dollar turns into profit and owner draw. Longer class time, better parts, safer instruction, and corporate facilitation are the cleanest reasons to charge more.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"left-row2\"\u003e\n\u003cdiv class=\"tips-box\"\u003e\n\u003ch3\u003ePrice With Fill Rate In View\u003c\/h3\u003e\n\u003cp\u003eTrack price by class type, then watch fill rate by month. A \u003cstrong\u003e10%\u003c\/strong\u003e price lift is only good if occupancy stays strong enough to protect total revenue. If public seats are 12, private seats are 10, and corporate seats are 20 to 30, model each format separately so one weak segment does not hide the real margin story.\u003c\/p\u003e\n\u003cp\u003eTest price changes in small steps and tie them to clear upgrades: longer sessions, better materials, tighter safety, and a stronger group experience. For corporate buyers, sell facilitation and team outcomes, not just a seat. If the new price reduces bookings, owner income drops faster than gross revenue suggests because fixed costs stay in place.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"timeline\"\u003e\u003c\/div\u003e\n\u003cdiv class=\"step-circle step2\"\u003e2\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003cbr\u003e\u003ch3\u003e\u003cspan style=\"color: #126CFF;\"\u003eKit Cost And Materials Per Student\u003c\/span\u003e\u003c\/h3\u003e\u003cbr\u003e\n\u003cdiv class=\"container_new_design_timeline\"\u003e\n\u003cdiv class=\"left-row3\"\u003e\n\u003ch3\u003eKit Cost Per Seat\u003c\/h3\u003e\n\u003cp\u003eKit cost is a direct per-seat margin lever. In Year 1, \u003cstrong\u003e11%\u003c\/strong\u003e of revenue goes to instrument kits and \u003cstrong\u003e2%\u003c\/strong\u003e to consumables, so \u003cstrong\u003e13%\u003c\/strong\u003e of sales is tied to materials before labor and overhead. By Year 5, the model shows \u003cstrong\u003e9%\u003c\/strong\u003e kits and \u003cstrong\u003e12%\u003c\/strong\u003e consumables, so the owner’s cash left per seat depends heavily on buying well and controlling waste.\u003c\/p\u003e\n\u003cp\u003eThis kit includes cigar boxes, neck blanks, strings, pickups, tuning hardware, glue, sandpaper, blades, and finishing supplies. If cheap parts hurt the finished instrument, reviews and repeat bookings can slip, which hits revenue and owner pay even if the ticket price stays the same. Here’s the quick math: lower kit spend raises contribution; higher scrap or rework cuts it fast.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"right-row3\"\u003e\n\u003cdiv class=\"tips-box\"\u003e\n\u003ch3\u003eTrack Kit BOM Cost\u003c\/h3\u003e\n\u003cp\u003eMeasure the bill of materials (BOM) per student: \u003cstrong\u003ecigar box + neck blank + hardware + consumables\u003c\/strong\u003e. Track supplier quotes, waste, breakage, and the number of seats each class fills. The inputs you need are seats sold, ticket price, kit spec, and usage per build. That tells you the true cost per student and how much cash is left for owner draw.\u003c\/p\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003eWatch cost per completed kit.\u003c\/li\u003e\n\u003cli\u003eLock prices before peak season.\u003c\/li\u003e\n\u003cli\u003eTest parts that affect sound.\u003c\/li\u003e\n\u003cli\u003eStandardize glue and finishing supplies.\u003c\/li\u003e\n\u003cli\u003eCut waste, not quality.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003eBetter purchasing raises take-home income without changing tuition. If one seat sells for the same price but kit cost drops, the full savings flow into gross margin and cash flow. That matters most in small classes, where one bad supplier choice can erase the profit from a whole session.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"timeline\"\u003e\u003c\/div\u003e\n\u003cdiv class=\"step-circle step3\"\u003e3\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003cbr\u003e\u003ch3\u003e\u003cspan style=\"color: #126CFF;\"\u003eVenue Rent And Fixed Overhead\u003c\/span\u003e\u003c\/h3\u003e\u003cbr\u003e\n\u003cdiv class=\"container_new_design_timeline\"\u003e\n\u003cdiv class=\"right-row4\"\u003e\n\u003ch3\u003eVenue Rent and Fixed Overhead\u003c\/h3\u003e\n\u003cp\u003e\u003cstrong\u003eVenue rent and fixed overhead\u003c\/strong\u003e is the monthly floor the workshop has to clear before the owner earns a dollar. In this model, overhead is \u003cstrong\u003e$3,200\u003c\/strong\u003e rent plus \u003cstrong\u003e$450\u003c\/strong\u003e utilities and internet, \u003cstrong\u003e$280\u003c\/strong\u003e insurance, \u003cstrong\u003e$150\u003c\/strong\u003e software and hosting, \u003cstrong\u003e$200\u003c\/strong\u003e tool maintenance, and \u003cstrong\u003e$300\u003c\/strong\u003e professional services, or \u003cstrong\u003e$4,580\u003c\/strong\u003e before payroll.\u003c\/p\u003e\n\u003cp\u003eWhat matters is seats sold against fixed load, not just class margins. The model shows Year 1 monthly fixed load at about \u003cstrong\u003e$159k\u003c\/strong\u003e; at a \u003cstrong\u003e$116\u003c\/strong\u003e public-seat contribution, the breakeven note is about \u003cstrong\u003e138 seats monthly\u003c\/strong\u003e. Small classes can look profitable on paper, but rent and payroll can wipe out owner pay fast.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"left-row4\"\u003e\n\u003cdiv class=\"tips-box\"\u003e\n\u003ch3\u003eTrack the Breakeven Floor\u003c\/h3\u003e\n\u003cp\u003eTrack \u003cstrong\u003eoccupied seats\u003c\/strong\u003e, \u003cstrong\u003econtribution per seat\u003c\/strong\u003e, and total fixed costs every month. Split revenue by public, private, and corporate seats, then test whether higher occupancy or higher ticket price covers the fixed load faster. If occupancy slips, the owner’s draw falls first because fixed costs do not move down with demand.\u003c\/p\u003e\n\u003cp\u003eUse the overhead line as a go or no-go check before adding sessions. A schedule that adds another class only helps if the extra contribution beats the fixed load and the added instructor time. If rent, software, or payroll creep up, update the breakeven count right away so busy days do not get mistaken for real profit.\u003c\/p\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003e\u003cstrong\u003eRent, utilities, and insurance\u003c\/strong\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cstrong\u003ePayroll and instructor time\u003c\/strong\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cstrong\u003eSeats sold by class type\u003c\/strong\u003e\u003c\/li\u003e\n\u003cli\u003e\u003cstrong\u003ePublic-seat contribution per class\u003c\/strong\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"timeline\"\u003e\u003c\/div\u003e\n\u003cdiv class=\"step-circle step4\"\u003e4\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003cbr\u003e\u003ch3\u003e\u003cspan style=\"color: #126CFF;\"\u003eAdd-Ons And Private Event Revenue\u003c\/span\u003e\u003c\/h3\u003e\u003cbr\u003e\n\u003cdiv class=\"container_new_design_timeline\"\u003e\n  \u003cdiv class=\"left-row5\"\u003e\n    \u003ch3\u003eAdd-Ons And Private Event Revenue\u003c\/h3\u003e\n    \u003cp\u003e\u003cstrong\u003eAdd-ons and private bookings raise revenue per attendee\u003c\/strong\u003e, but they should stay upside, not the base case. Accessory sales are modeled from \u003cstrong\u003e$800 in Year 1\u003c\/strong\u003e to \u003cstrong\u003e$35k in Year 5\u003c\/strong\u003e, and ticket mix helps too: private parties start at \u003cstrong\u003e$160\u003c\/strong\u003e and corporate events at \u003cstrong\u003e$225\u003c\/strong\u003e, both above the \u003cstrong\u003e$145\u003c\/strong\u003e public workshop price. The driver is average revenue per attendee, not seat count alone.\u003c\/p\u003e\n    \u003cp\u003eWhat this estimate hides is conversion. Since add-on rates are not provided, don’t count on \u003cstrong\u003eextra strings, slides, amp kits, take-home kits, upgraded pickups,\u003c\/strong\u003e or finished instruments to carry the model. The owner’s take-home income improves only if these sales lift gross margin faster than they add labor, prep time, and inventory strain.\u003c\/p\u003e\n  \u003c\/div\u003e\n  \u003cdiv class=\"right-row5\"\u003e\n    \u003cdiv class=\"tips-box\"\u003e\n      \u003ch3\u003eTrack Attach Rate And Event Mix\u003c\/h3\u003e\n      \u003cp\u003eMeasure \u003cstrong\u003eadd-on attach rate\u003c\/strong\u003e, \u003cstrong\u003eevent mix\u003c\/strong\u003e, and \u003cst rong\u003erevenue per attendee every month. Here’s the quick math: if a seat sells for \u003cstrong\u003e$145\u003c\/strong\u003e publicly, but a private ticket is \u003cstrong\u003e$160\u003c\/strong\u003e and a corporate ticket is \u003cstrong\u003e$225\u003c\/strong\u003e, the mix alone can lift cash before you add accessory sales. Price each item clearly, then watch whether margins stay strong after kit and labor costs.\u003c\/st\u003e\u003c\/p\u003e\n      \u003cp\u003eTest bundles around the highest-margin extras first, then forecast them separately from core tickets. Track deposits on private events, since they improve cash flow, and document which add-ons are actually bought in class. If conversion stays weak, treat accessories as bonus income, not expected profit, so owner pay does not depend on an unproven upsell rate.\u003c\/p\u003e\n    \u003c\/div\u003e\n  \u003c\/div\u003e\n  \u003cdiv class=\"timeline\"\u003e\u003c\/div\u003e\n  \u003cdiv class=\"step-circle step5\"\u003e5\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003cbr\u003e\u003ch3\u003e\u003cspan style=\"color: #126CFF;\"\u003eOwner Time And Instructor Labor\u003c\/span\u003e\u003c\/h3\u003e\u003cbr\u003e\n\u003cdiv class=\"container_new_design_timeline\"\u003e\n\u003cdiv class=\"right-row6\"\u003e\n\u003ch3\u003eOwner Time And Instructor Labor\u003c\/h3\u003e\n\u003cp\u003eThis driver is about who teaches, who manages, and who gets paid for each hour on the floor. The model’s \u003cstrong\u003e$65k\u003c\/strong\u003e lead instructor salary can be the founder’s pay if the founder teaches, but it becomes a real wage cost if that role is hired out. The key input is paid class volume versus instructor hours, because more seats only help owner income if labor stays aligned.\u003c\/p\u003e\n\u003cp\u003eAs staffing grows, margin can slip before utilization catches up. Assistant instructor FTE rises from \u003cstrong\u003e0.5\u003c\/strong\u003e in Year 1 to \u003cstrong\u003e2.5\u003c\/strong\u003e in Year 5, plus a \u003cstrong\u003e$50k\u003c\/strong\u003e sales and admin coordinator and a \u003cstrong\u003e0.5 FTE\u003c\/strong\u003e prep assistant after Year 1. That adds capacity, but it also raises cash payroll first, so profit is not the same thing as take-home pay for teaching labor.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"left-row6\"\u003e\n\u003cdiv class=\"tips-box\"\u003e\n\u003ch3\u003eTrack labor per filled seat\u003c\/h3\u003e\n\u003cp\u003eMeasure instructor hours, filled seats, and payroll as a share of workshop revenue. Here’s the quick test: if added staff lets you sell more seats at the same fill rate, owner income can rise; if not, payroll just compresses margin. Keep the founder’s role clear: teach, manage, or hire. Each choice changes whether the \u003cstrong\u003e$65k\u003c\/strong\u003e lead instructor line is owner compensation or an operating expense.\u003c\/p\u003e\n\u003cp\u003eUse a simple control set: paid seats per class, class fill rate, labor cost per seat, and weekly owner hours. Watch the break point where assistant labor pays for itself. If utilization stays low, extra instructors and prep help will drain cash before they support profit. If weekend demand is strong, staffing ahead of demand can protect service quality and support a higher owner draw.\u003c\/p\u003e\n\u003cul class=\"lst_crct_blog\"\u003e\n\u003cli\u003eTrack filled seats per labor hour.\u003c\/li\u003e\n\u003cli\u003eSeparate pay from profit.\u003c\/li\u003e\n\u003cli\u003eForecast payroll before hiring.\u003c\/li\u003e\n\u003cli\u003eMatch staffing to booked classes.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"timeline\"\u003e\u003c\/div\u003e\n\u003cdiv class=\"step-circle step6\"\u003e6\u003c\/div\u003e\n\u003c\/div\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003ch2\u003e\u003cspan style=\"color: #126CFF;\"\u003eCompare lean, base, and high owner income cases\n\u003c\/span\u003e\u003c\/h2\u003e\n\u003csection class=\"fml-scenario-table\" aria-label=\"Cigar Box Guitar Workshop Owner Income Scenarios\" data-site-name=\"Financial Models Lab\" data-site-url=\"https:\/\/financialmodelslab.com\" data-source-title=\"Cigar Box Guitar Workshop Owner Income Scenarios\" data-note-label=\"Planning note\" data-note-text=\"Ranges are researched planning assumptions, not guaranteed earnings, salary promises, tax advice, or distribution policy.\"\u003e\u003cdiv class=\"fml-scenario-table-card\"\u003e\n\u003cheader class=\"fml-scenario-table-header\"\u003e\u003cdiv\u003e\n\u003cp class=\"fml-scenario-table-eyebrow\"\u003eOwner income scenarios\u003c\/p\u003e\n\u003cp class=\"fml-scenario-table-description\"\u003eOwner income swings with booking density, occupancy, and how much the shop runs through classes, parties, and corporate events. Low case protects against a cash-tight launch; high case reflects a full, managed schedule.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"fml-scenario-table-actions\"\u003e\u003cbutton class=\"fml-scenario-table-export\" type=\"button\" data-scenario-export\u003eEXPORT XLSX\u003c\/button\u003e\u003c\/div\u003e\u003c\/header\u003e\u003cdiv class=\"fml-scenario-table-wrap\"\u003e\u003ctable class=\"fml-scenario-table-grid\"\u003e\n\u003ccaption\u003eLow, base, and high owner income cases for the workshop model.\u003c\/caption\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth class=\"fml-scenario-table-stub\" scope=\"col\" data-export-value=\"Scenario\"\u003eScenario\u003c\/th\u003e\n\u003cth class=\"fml-scenario-table-column\" scope=\"col\" data-export-value=\"Low Case\"\u003e\n\u003cspan class=\"fml-scenario-column-title\"\u003eLow Case\u003c\/span\u003e\u003cspan class=\"fml-scenario-badge is-soft\"\u003eLow Case\u003c\/span\u003e\n\u003c\/th\u003e\n\u003cth class=\"fml-scenario-table-column\" scope=\"col\" data-export-value=\"Base Case\"\u003e\n\u003cspan class=\"fml-scenario-column-title\"\u003eBase Case\u003c\/span\u003e\u003cspan class=\"fml-scenario-badge is-soft\"\u003eBase Case\u003c\/span\u003e\n\u003c\/th\u003e\n\u003cth class=\"fml-scenario-table-column\" scope=\"col\" data-export-value=\"High Case\"\u003e\n\u003cspan class=\"fml-scenario-column-title\"\u003eHigh Case\u003c\/span\u003e\u003cspan class=\"fml-scenario-badge is-warning\"\u003eHigh Case\u003c\/span\u003e\n\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr data-scenario-row\u003e\n\u003cth class=\"fml-scenario-row-heading\" scope=\"row\" data-export-value=\"Launch model\"\u003e\u003cspan class=\"fml-scenario-row-heading-inner\"\u003e\u003cspan class=\"fml-scenario-row-icon is-launch\" aria-hidden=\"true\"\u003e\u003cimg class=\"fml-scenario-row-icon-img\" src=\"\/cdn\/shop\/files\/scenario-launch-model.svg\" alt=\"Launch model icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003e\u003cspan class=\"fml-scenario-row-title\"\u003eLaunch model\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003c\/th\u003e\n\u003ctd data-export-value=\"This is the lean launch case, where the owner mainly pays themselves as lead instructor and cash stays tight.\"\u003eThis is the lean launch case, where the owner mainly pays themselves as lead instructor and cash stays tight.\u003c\/td\u003e\n\u003ctd data-export-value=\"This is the modeled middle case, where class volume and event mix support owner pay plus modest profit.\"\u003eThis is the modeled middle case, where class volume and event mix support owner pay plus modest profit.\u003c\/td\u003e\n\u003ctd data-export-value=\"This is the strong upside case, where the shop runs near capacity and owner income expands with events and side sales.\"\u003eThis is the strong upside case, where the shop runs near capacity and owner income expands with events and side sales.\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr data-scenario-row\u003e\n\u003cth class=\"fml-scenario-row-heading\" scope=\"row\" data-export-value=\"Typical setup\"\u003e\u003cspan class=\"fml-scenario-row-heading-inner\"\u003e\u003cspan class=\"fml-scenario-row-icon is-setup\" aria-hidden=\"true\"\u003e\u003cimg class=\"fml-scenario-row-icon-img\" src=\"\/cdn\/shop\/files\/scenario-typical-setup.svg\" alt=\"Typical setup icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003e\u003cspan class=\"fml-scenario-row-title\"\u003eTypical setup\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003c\/th\u003e\n\u003ctd data-export-value=\"The shop runs at 18 billable days and 45% occupancy, with $224k revenue, -$33k EBITDA, and the owner taking only instructor pay.\"\u003eThe shop runs at 18 billable days and 45% occupancy, with $224k revenue, -$33k EBITDA, and the owner taking only instructor pay.\u003c\/td\u003e\n\u003ctd data-export-value=\"The shop reaches 20 billable days and 55% occupancy, with $386k revenue, $51k EBITDA, and the owner acting as lead instructor.\"\u003eThe shop reaches 20 billable days and 55% occupancy, with $386k revenue, $51k EBITDA, and the owner acting as lead instructor.\u003c\/td\u003e\n\u003ctd data-export-value=\"The shop scales to 26 billable days and 85% occupancy, with $2.171M revenue, $1.455M EBITDA, and a more managed event mix.\"\u003eThe shop scales to 26 billable days and 85% occupancy, with $2.171M revenue, $1.455M EBITDA, and a more managed event mix.\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr data-scenario-row\u003e\n\u003cth class=\"fml-scenario-row-heading\" scope=\"row\" data-export-value=\"Cost drivers\"\u003e\u003cspan class=\"fml-scenario-row-heading-inner\"\u003e\u003cspan class=\"fml-scenario-row-icon is-drivers\" aria-hidden=\"true\"\u003e\u003cimg class=\"fml-scenario-row-icon-img\" src=\"\/cdn\/shop\/files\/scenario-cost-drivers.svg\" alt=\"Cost drivers icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003e\u003cspan class=\"fml-scenario-row-title\"\u003eCost drivers\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003c\/th\u003e\n\u003ctd data-export-value=\"18 billable days; 45% occupancy; $224k revenue; -$33k EBITDA; $65k owner instructor pay\"\u003e\u003cul class=\"fml-scenario-list\"\u003e\n\u003cli\u003e18 billable days\u003c\/li\u003e\n\u003cli\u003e45% occupancy\u003c\/li\u003e\n\u003cli\u003e$224k revenue\u003c\/li\u003e\n\u003cli\u003e-$33k EBITDA\u003c\/li\u003e\n\u003cli\u003e$65k owner instructor pay\u003c\/li\u003e\n\u003c\/ul\u003e\u003c\/td\u003e\n\u003ctd data-export-value=\"20 billable days; 55% occupancy; $386k revenue; $51k EBITDA; lead instructor role\"\u003e\u003cul class=\"fml-scenario-list\"\u003e\n\u003cli\u003e20 billable days\u003c\/li\u003e\n\u003cli\u003e55% occupancy\u003c\/li\u003e\n\u003cli\u003e$386k revenue\u003c\/li\u003e\n\u003cli\u003e$51k EBITDA\u003c\/li\u003e\n\u003cli\u003elead instructor role\u003c\/li\u003e\n\u003c\/ul\u003e\u003c\/td\u003e\n\u003ctd data-export-value=\"26 billable days; 85% occupancy; $2.171M revenue; $1.455M EBITDA; managed shop and scaled events\"\u003e\u003cul class=\"fml-scenario-list\"\u003e\n\u003cli\u003e26 billable days\u003c\/li\u003e\n\u003cli\u003e85% occupancy\u003c\/li\u003e\n\u003cli\u003e$2.171M revenue\u003c\/li\u003e\n\u003cli\u003e$1.455M EBITDA\u003c\/li\u003e\n\u003cli\u003emanaged shop and scaled events\u003c\/li\u003e\n\u003c\/ul\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr data-scenario-row\u003e\n\u003cth class=\"fml-scenario-row-heading\" scope=\"row\" data-export-value=\"Owner income range\"\u003e\u003cspan class=\"fml-scenario-row-heading-inner\"\u003e\u003cspan class=\"fml-scenario-row-icon is-range\" aria-hidden=\"true\"\u003e\u003cimg class=\"fml-scenario-row-icon-img\" src=\"\/cdn\/shop\/files\/scenario-planning-range.svg\" alt=\"Owner income range icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003e\u003cspan class=\"fml-scenario-row-title\"\u003eOwner income range\u003c\/span\u003e\u003cspan class=\"fml-scenario-row-subtitle\"\u003eBefore owner reserves\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003c\/th\u003e\n\u003ctd data-export-value=\"$65k salary\"\u003e\n\u003cstrong class=\"fml-scenario-range\"\u003e$65k salary\u003c\/strong\u003e\u003cspan class=\"fml-scenario-badge is-soft\"\u003eSalary only\u003c\/span\u003e\n\u003c\/td\u003e\n\u003ctd data-export-value=\"$116k pre-tax\"\u003e\n\u003cstrong class=\"fml-scenario-range\"\u003e$116k pre-tax\u003c\/strong\u003e\u003cspan class=\"fml-scenario-badge is-soft\"\u003eModeled middle\u003c\/span\u003e\n\u003c\/td\u003e\n\u003ctd data-export-value=\"$1.52M pre-tax\"\u003e\n\u003cstrong class=\"fml-scenario-range\"\u003e$1.52M pre-tax\u003c\/strong\u003e\u003cspan class=\"fml-scenario-badge is-warning\"\u003eUpside run rate\u003c\/span\u003e\n\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr data-scenario-row\u003e\n\u003cth class=\"fml-scenario-row-heading\" scope=\"row\" data-export-value=\"Best fit\"\u003e\u003cspan class=\"fml-scenario-row-heading-inner\"\u003e\u003cspan class=\"fml-scenario-row-icon is-fit\" aria-hidden=\"true\"\u003e\u003cimg class=\"fml-scenario-row-icon-img\" src=\"\/cdn\/shop\/files\/scenario-best-fit.svg\" alt=\"Best fit icon\" loading=\"lazy\"\u003e\u003c\/span\u003e\u003cspan\u003e\u003cspan class=\"fml-scenario-row-title\"\u003eBest fit\u003c\/span\u003e\u003c\/span\u003e\u003c\/span\u003e\u003c\/th\u003e\n\u003ctd data-export-value=\"Use this if you want a downside check on year one cash and owner pay.\"\u003eUse this if you want a downside check on year one cash and owner pay.\u003c\/td\u003e\n\u003ctd data-export-value=\"Use this as the main planning case for a working shop with steady bookings.\"\u003eUse this as the main planning case for a working shop with steady bookings.\u003c\/td\u003e\n\u003ctd data-export-value=\"Use this to test upside if bookings stay full and the owner adds side income.\"\u003eUse this to test upside if bookings stay full and the owner adds side income.\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\u003c\/div\u003e\n\u003cdiv class=\"fml-scenario-table-note\"\u003e\n\u003cspan class=\"fml-scenario-table-note-icon\" aria-hidden=\"true\"\u003e!\u003c\/span\u003e\u003cp\u003e\u003cstrong\u003ePlanning note:\u003c\/strong\u003e Ranges are researched planning assumptions, not guaranteed earnings, salary promises, tax advice, or distribution policy.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\u003c\/section\u003e","brand":"FinancialModelsLab","offers":[{"title":"Default Title","offer_id":49303536730355,"sku":"cigar-box-guitar-making-owner-makes","price":0.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/6191\/2762\/files\/cigar-box-guitar-making-owner-makes.webp?v=1782678880","url":"https:\/\/financialmodelslab.com\/products\/cigar-box-guitar-making-owner-makes","provider":"Financial Models Lab","version":"1.0","type":"link"}