OK, lets put things in perspective. Most music jobs, at least in the U.S., pay an average of about $100 per hour. I'm talking NH, assisted living and retirement community jobs. Restaurants, nite-clubs, bars and the like pay significantly less, averaging about $150 to $200 for 4 hours.
Of course, that $100 per hour NH job pay-scale is the gross amount, which means it's prior to deducting your operating expenses, which include:
Gas, tolls, amortized cost of equipment, insurance, amortized cost of transportation vehicle, uniforms (tux, vests, performance clothing), advertising, internet access, telephone expenses, and a host of other expenses associated with running the business. That usually takes that $100 per hour gross pay down to $25 per hour or less net. And that's if you're a good business person that pays attention to details, keeps impeccable records, and works 7-days-a-week at keeping the business afloat.
Now, lets add up the cost of the equipment mentioned above. DNJ says $5,000 is fine for a keyboard, and it will pay for itself in no time at all. The sound system was $6,750 plus shipping, add to that a quality keyboard stand for about $250 (gotta' have the best), a sturdy seat for $175, couple of mics at $300 each, laptop for the lyrics and music at $500, some mic stands, cabling, and of course some backup equipment and you're looking at $15,000 for a basic setup using the above listed gear.
Now, divide the $25 hourly net pay rate into $15,000 and you quickly discover that it would take 600 jobs in order to hit the break even point. Considering that a very busy OMB performs about 300 times a year, that translates into to 2 years of playing just to pay for the equipment.
It doesn't take a rocket scientist to figure out that during that same, two-year period they also had to support their family, pay a mortgage, feed the wife and kids, pay for health insurance, etc.., etc.., etc... That adds up to another 300 jobs per year, and that's only if you live a very frugal lifestyle.
Now, if you buy all that expensive gear, with all the flashing lights, flames, etc.., will you be paid more money? Will you even be able to perform more jobs than 300 to 400 per year? Will you sound so much better than the competition that people will be beating down your doors for more performances at higher prices? NOT LIKELY!
In contrast, the cost of a mid priced keyboard is about $1,400, add a good X-stand for another $100, $150 for a mic, $1,000 for a Bose L1 Compact, $299 for a netbook computer and the basic cost of the equipment falls dramatically. Additionally, setup time is just 10 or less minutes, you can pack all your gear in a compact car or mini-van that gets great gas mileage and transportation costs are reduced by a significant margin.
Now, if you buy all this less expensive gear, with no flashing lights, flames, etc.., will you be paid less money? No, not really. You'll probably get the same pay.
Will you be able to perform more jobs than 300 to 400 per year? No, but your gear will be paid for in six months or less.
Will you sound worse than the competition? Not really, especially if you're a good entertainer.
One last question: How many full time performers do you know that made enough money to be able to pay their bills, take a vacation, and made enough to put money into their own retirement program? I'm not talking about someone who has a full-time job working for someone else and plays on weekends. I'm talking about someone who is a full-time musician/entertainer.
THINK ABOUT IT!
Gary