Live performance businesses provide venues for a variety of entertainment including musical, theatrical, and ballet performances. They may operate theaters or auditoriums, or they may offer portable stages and sound systems at outdoor events. These businesses may also provide sound and light equipment, as well as other related services. To create a successful live performance business, entrepreneurs need to be able to identify and book talent, as well as generate marketing for the event. Additionally, they should have a strong understanding of the industry regulations, licensing requirements, and safety protocols. Finally, they must be able to forecast trends in the industry and ensure that their performance business is staying competitive and meeting consumer demands.