I've put together several shows like this. The problem is there are so many variables that a one size fits all piece of advice is likely not going to work.
By variables, I mean:
The type of show. Is there any kind of theme to the event? A blues festival. A multi-tribute band show. A battle of the bands. And so on.
Ticket prices. Charge enough for that you don't need an unrealistic turnout to make a profit, but not so much that you price your event out of the market.
Overhead. So you know rent prices... are there other overheads to consider? Security? Concession vendors? Merch? Crew? Promotions? Travel expenses for the out of town bands? Does the venue provide it's own liability insurance or do you have to provide a rider policy for the event? Lots of crap to consider here besides rent.
Promotion plan. Other than the cost, there is the matter of how to promote something for which you need a broad draw and high attendance. I recommend some kind of profit motive for every band involved so they are invested in getting the word out. This is critical.
The location. Two years ago, I put together a show like this featuring my band which is one of the top draws in our market when we play locally, and two other top draws - one of which is now touring as an opener for national acts managed by Doc McGhee including KISS, Nugent, Alice Cooper etc. Both those bands at the time could pull a good crowd. Three good draws at a big all ages venue on the same night! Can't miss right? I also bought radio advertising out of my pocket for the event. It was a disaster. MAYBE 50 paying customers. In retrospect it was a venue people were unfamiliar with and in a part of town our target demographic didn't frequent. Bad planning on my part.
You want a force multipling factor here. By that I mean, if band A can draw 100 people, and band B can draw 100 people, if you put them together are you going to draw 200 people? Probably not. Either their fans will overlap and you'll draw less than 200, or they will compliment each other yet be diverse enough that together they may draw more than 200. I would like to see band A, and I would like to see band B but together? I can't miss that!
Advance ticket sales is HUGE for something like this. Sell advance tickets at a discount. For example, we did a show this month where we sold advance tickets for $7 and they were $10 at the door. This gets tickets in peoples hands when they are talking about buying them and doesn't allow for inevitable distractions to interfere with them actually coming to the show. How many times has someone told you they were coming to a show and they didn't come? Dude, I totally meant to be there but blah blah blah... Sell that guy a ticket the week before! Then, it doesn't matter if he comes or not. You get paid.
In this case, instead of a flat fee we insisted on taking the door because we had total control over sales. The venue owner had no problem with that because he knows we fill the place up, so he took the bar and we took the door. As a result we netted about twice what the other top bands in our market would routinely contract for.
When selling advance tickets, here are two other good ideas. Come up with a ticket design and print them up at Kinkos on heavy card stock. Good way to have professional looking tickets without spending a fortune. Also, make them available online!
www.ticketleap.com is who we use and I've been very happy with their service. Make it as convenient as possible for people to buy discounted advance tickets and have a NO REFUND policy.
Hope some of that helps. There is some risk involved when you do this but the upside is really good.
