The first plan is to present the event as usual with virus restrictions lifted, a second option involves a scaled-down version of the festival and the third plan involves postponing the actual festival itself.

Festival director Colin Thompson said how the festival would look would depend on which restrictions remain in place in November.

"We've got three possibilities we are working towards without knowing which one we will have to go for," he said. "It hinges on what the government restrictions are and the willingness of people to come out.

"(I think) we are looking at option B and C. Plan B being restriction (partially) lifted but a good portion of venues unable to take part (that means) the possibility of staging a scaled-down version with less venues, less artists but hopefully same number of attendees.

"Plan C kicks in if the government don't allow gatherings and we have to postpone actual festival itself."

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This year is set to be the 10^th iteration of the festival making the crew behind the event determined to present something.

Mr Thompson said it was an important milestone for the team.

"We're an optimistic, can-do bunch of people," he said. "It's not in our nature to say 'let's chuck towel in and see what happens next year'.

"We're determined that if possibility is there, we're going to stage it. Especially being year number 10, it's an important milestone for us and the city."

Also hindering the festival's potential plans are the availability of venues and the cost. The volunteer-run festival usually hosts a number of events during the year to raise funds for the November event.

So far the BBRMF has cancelled a number of shows including two Blues Trams, Rocks Undergorund, shows scheduled for the Old Church on the Hill and its Winter Showcase scheduled for June.

"The winter showcase in particular is a kick in teeth to funding but we have been blessed so far with the amount of cash sponsors who have committed to this year already even (during COVID-19)," Mr Thompson said.

"They all know that, God forbid, if this year doesn't go ahead, their sponsorship is held over to next year or the next time hold festival.

"We can only liaise with venues and reach out with encouraging words. At the moment, we have got new ones wanting to be involved and old venues keen to return but it is a wait and see type of thing."

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Mr Thompson said festival organisers are in regular communication with the City of Greater Bendigo about potential plans.

"They're fully behind us putting on an event and backing of us if and when we know we can do it," he said.

"We have got everything in motion assuming we will. If leave planning to when we know for sure it can go ahead, there won't be enough hours to put the work in.

"We have to plan now as if we're going to do it and we have got the full backing of the council on that. We're happy and grateful for that support. They're a big part of why we can do what we can do."

Mr Thompson said he has been unable to confirm artists for this year's from the 500 applications received from artists desperate to play.

"Normally we announce the line-up at the middle of the year at the latest," he said. "One of the painful things is not being able to tell artists 'yes,you're on' or 'no you're not'.

"It's been great to see the amount of online gigs that artists and musicians are putting on from their homes. It's important people look for ways to support artists who are without paid work. They are suffering and deserve anything we can give."

Festival organisers are also considering moving the festival online but Mr Thompson said that would have to be driven by the artists.

"We are looking at all options on that score," he said. "We would work with Bendigo Venues and Events on something but the thing about being a festival is it is about gathering people to enjoy music first hand."

If the festival was forced to postpone, Mr Thompson said it would survive thanks to being run by volunteers.

"It does set us a part from large commercial events," he said. "Not running doesn't mean our organisation becomes bankrupt, goes into liquidation or shuts down. We trudge forward and wait.

"The ones we feel for are artists and venues because missing out on income if we can't go ahead."