If you're like me, you've probably wondered just how you can make money busking in London and just how much money you can earn. Here are some of the most important questions you need to consider.

What can you do?

Can you sing or play a musical instrument? Traditional Magician in London who play guitars and sing popular tunes always do well. But do note that people are much more likely to pop a coin into your hat if you play well known songs than if you insist on playing obscure tunes or even songs you've written yourself. It may be nice to get your original music out there but you have to decide whether you are trying to promote yourself or make the most money. They are two separate things. Of course if you want to promoter your own compositions you can always burn a CD and sell that to passers-by who take an interest. That way you will also earn some extra cash from CD sales.

So you need a talent?

Well it helps. Along with the singers and guitar players there are also escapologists, jugglers and magicians. All these require skills and talent. Another form of street entertainer popular in London is the Living Statues which many people consider to be easy. However to do it well is actually very difficult and requires a lot of practice.

I've no special talents?

You could consider being a mascot. Just buy a Mickey Mouse costume and stand around waving at people. There are a number of these mascot type entertainers on London's South Bank. Earning will depend on your choice of costume and how well you engage the passers-by. One mascot I spoke to reckons he only makes around 40 pounds a day. Also be warned it can get incredibly hot and sweaty in a full mascot costume. Another character on the South Bank dresses like Charlie Chaplin and just poses for photos, yet he seems to earn a very respectable amount.

Unusual acts

There's one guy on the South Bank who pretends to be a dog in a pet basket and another who actually has a talented dog who can do tricks. It pays to be unique so think outside the box.

Who makes the most money Busking in London?

In most walks of life women quite rightly fight for equal pay but an interesting thing occurs in the world of street entertaining - women tend to earn more than men. Some say the reason for this is that it is people perceive that it is harder for a woman put herself in a vulnerable  Magician in London  position like that and so reward her accordingly.

How much money can you make?

Anything from nothing to well over 200 pounds per day. It all depends very much on your act, your location, your audience and of course the good old London weather.

Where to do it?

The most important point about location is footfall. i.e. the number of people who pass by your pitch. Good pitches are very sought after so at weekends in particular buskers are likely to turn up early to secure the best pitch. The big areas for street entertainers in London are The South Bank and Covent Garden. Musicians can also contact London Underground to apply for one of their 39 station pitches.