Interested in moving my studio to a commercial location

Kamikaze Revy

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Here are some pics of the studio that are almost a year old. I need to take some updated ones. I have more acoustic treatment I made in the booth now and for the control room.

I've been doing music for about 15 years as an indie artist and recording/mixing other artist's work for about 10 years. Last year I converted my garage into a recording studio.
The whole point of the studio from the beginning and still today has never been about the money. When I started no one around me had access to a professional recording studio or even a set up that would provide respectable sound quality. I got tired of waiting for other people to open doors and I decided to make a few sacrifices and build a place where people with very limited resources could have access to high quality equipment.
I was unemployed for a year and was able to keep the bills paid purely on music and studio time sales. It was a very stressful year not because of having to live off the studio, but because of having lost a job I was at for 10 years. The experience of losing my job, compounded by raising my daughter and the birth of my son, ignited something inside of me that had been in the back of my mind for a very long time.
The safety of having a regular 9 - 5 job comes with a price that I find myself no longer interested in paying. I want to be in a position to be my own boss; working with the people I want to work with, setting the hours I want to work, building business partnerships, creating jobs, and further building a platforms.
Right now the studio provides a decent side income but with it being in my house I am limited in operating hours, and in the people I feel comfortable allowing to come into my house. I'm 100% conscious that moving to a commercial location would mean that I would still have to work my 9 - 5 and go to the studio at night for several years before even thinking of doing the studio full time. I'm willing to sacrifice the time. Music is my passion and sitting in a studio after work everyday is something I already so in my garage whether I have someone recording or not. I'm sharing this background info to establish that I'm 100% aware of the general risks and rewards in working for yourself, and I'm 100% committed to grinding for as long as necessary but I have one major obstacle: Fear.
The getting started is what has me afraid the most, so I'm hoping there are a few people on here that are working for themselves either part-time or full-time that can give me some advice about overcoming that fear and share their experiences of being a business owner. If anyone has experience with a commercial location I'd love to hear about that experience as well. I've talked to a few local business owners and heard great things. I just want to get over this brick wall in the pit of my stomach that continues to put doubt in my mind.
 

SnowflakesByTheOZ

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In, not a business owner but working on developing my entrepreneurial mindframe. Would love to hear some of the advice of others. Your setup looks great btw, I do a little producing myself. Good luck man !

For what it's worth, 17 Keys To Success by Napoleon Hill is a good read, check it out if you haven't
 

Jparker

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You're better than me because I wouldn't let people in my house for that. What would you do with your garage?would you still have extra income after rent? If you're in this for the long haul why not buy up a spot to own? May cost a little more but if you ever call it quits you would have property for a potential return on your investment. What are your price ranges?
 

Kamikaze Revy

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You're better than me because I wouldn't let people in my house for that. What would you do with your garage?would you still have extra income after rent? If you're in this for the long haul why not buy up a spot to own? May cost a little more but if you ever call it quits you would have property for a potential return on your investment. What are your price ranges?
Like I said, I'm selective with who I allow in the house which is a big reason why I want to move to a commercial spot. Only people I bring in are people I know personally and people my people have co-signed. The garage right now is the studio. I actually have enough equipment for 2 studios. If I ended up deciding to not have a studio in my house at all I would probably take the room and make it a small game room, or movie room. Even now it doubles as a guest room so no matter what there's plenty of use for the space the way it is now. I'm not looking to buy a commercial spot off the jump. I'm looking for a relatively small commercial space for the studio. It definitely is a long term goal though to grow the business and get a large commercial spot where I could host small events. Kindly like a jazz club. Something with tables where we serve light food and drinks and have local entertainment as the focus for coming to the spot. That's very long term goals though. My immediate focus is looking for a small spot to build the studio business up. Right now I charge $20 an hour for studio time because I don't have any over head with the studio being in my house. Prices will have to go up at a commercial spot but even then I only see myself charging $30 max and I actually wanted to keep it at $25 an hour. I've found ads for several commercial spaces that I think could for for $600 - $700 a month.
 

Swirv

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I know this is your passion breh but don't leave out the business aspect. Once you go from your home (rent or loan free space) into a commercial locations there are costs. You will have to get commercial insurance for your business if you are doing it the legit way, registering with state, tax id, commercial lease or mortgage. I would consider renting out the studio and your time as mixer separately. You should put a breakdown of expenses down on paper and income projections as well. Your passion can definitely fuel your economic reality in a positive way if prepared for accordingly.
 

Kamikaze Revy

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I know this is your passion breh but don't leave out the business aspect. Once you go from your home (rent or loan free space) into a commercial locations there are costs. You will have to get commercial insurance for your business if you are doing it the legit way, registering with state, tax id, commercial lease or mortgage. I would consider renting out the studio and your time as mixer separately. You should put a breakdown of expenses down on paper and income projections as well. Your passion can definitely fuel your economic reality in a positive way if prepared for accordingly.
Absolutely. Thanks for the feed back. That's actually how I currently do business with the home studio. Studio recording time, and mixing is offered separately and together with different pricing. I spoke with a local business owner recently and he also mentioned the building insurance and the need for a separate insurance for the equipment.
My major concern now (and I'm hoping it isn't due to fear but I suspect it is) is whether or not I should seek out a business partner first to help alleviate the burden of building rent.
One of my short term goals is to run the studio similar to a barber shop, where I would bring in a person who already has their own equipment and rent a room out to them the same way barbers rent out chairs.
 

Swirv

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Absolutely. Thanks for the feed back. That's actually how I currently do business with the home studio. Studio recording time, and mixing is offered separately and together with different pricing. I spoke with a local business owner recently and he also mentioned the building insurance and the need for a separate insurance for the equipment.
My major concern now (and I'm hoping it isn't due to fear but I suspect it is) is whether or not I should seek out a business partner first to help alleviate the burden of building rent.
One of my short term goals is to run the studio similar to a barber shop, where I would bring in a person who already has their own equipment and rent a room out to them the same way barbers rent out chairs.
I see what you mean. Is there a big demand for studio time in your area?
 

Kamikaze Revy

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I see what you mean. Is there a big demand for studio time in your area?
"Big" is relative. I can say that right now I get a fair amount of business in my home studio and have seen it increase since I converted the garage to a pro set up.
In the area there are a few independent studios that do well for themselves. The largest studio in the area was interested in a partnership with me which I put on hold until I figured out all of my options. That studio actually ended up moving to a new location so it was good that I put things on hold for the time being. It's also located a bit farther than I would like to be.
Another studio owner told me that his studio produces %30 - %40 of his overall income. He told me to be prepared to continue working my day job for a long time, but he also said owning your own business is one of the most rewarding feelings you can experience and said the grind is absolutely worth it.
 

Swirv

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"Big" is relative. I can say that right now I get a fair amount of business in my home studio and have seen it increase since I converted the garage to a pro set up.
In the area there are a few independent studios that do well for themselves. The largest studio in the area was interested in a partnership with me which I put on hold until I figured out all of my options. That studio actually ended up moving to a new location so it was good that I put things on hold for the time being. It's also located a bit farther than I would like to be.
Another studio owner told me that his studio produces %30 - %40 of his overall income. He told me to be prepared to continue working my day job for a long time, but he also said owning your own business is one of the most rewarding feelings you can experience and said the grind is absolutely worth it.
the grind is worth it if you're making money doing what you want. I recently sold my share in my business to my partners. It was great while it lasted but at the end I realized I was partnered with the wrong group. So you're smart for weighing your options.

You should do some research on the big studios in NYC, atl, la etc. there has to be many ways to make money through a music studio in order to quit your other job and focus 100% on your business.
 

Kamikaze Revy

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the grind is worth it if you're making money doing what you want. I recently sold my share in my business to my partners. It was great while it lasted but at the end I realized I was partnered with the wrong group. So you're smart for weighing your options.

You should do some research on the big studios in NYC, atl, la etc. there has to be many ways to make money through a music studio in order to quit your other job and focus 100% on your business.
I agree. I've seen it work in this area with a few people running a recording studio full time. In those instances they run the studio like a barber shop like I mentioned. It definitely helps renting out the rooms to independent engineers to keep that overhead low.
I have some ideas that I think would give me an edge in this area.
For example: Everyone out here sells studio time with a rough mix for about $35 - $50 an hour.
Not only would my prices be lower (In the $25 range) but I'm thinking of also providing the service of uploading the finished tracks to itunes/googleplay/amazon/pandora/tidal/etc as part of the rate. Conditions would apply, but it's something that can be done for relatively cheap and I think it's something that would give me a substantial leg up on the local competition. I would do something like $25 an hour for recording and rough mix or $35 an hour for recording,rough mix, and upload to all major online distributors. Essentially I would leverage the studio as a record label. I would also bring in producers who are ready to lease beats for the low if the track is recorded with us. I make beats as well.
There's a couple other different ideas I have in order to set my business apart from the competition.
 

Swirv

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I agree. I've seen it work in this area with a few people running a recording studio full time. In those instances they run the studio like a barber shop like I mentioned. It definitely helps renting out the rooms to independent engineers to keep that overhead low.
I have some ideas that I think would give me an edge in this area.
For example: Everyone out here sells studio time with a rough mix for about $35 - $50 an hour.
Not only would my prices be lower (In the $25 range) but I'm thinking of also providing the service of uploading the finished tracks to itunes/googleplay/amazon/pandora/tidal/etc as part of the rate. Conditions would apply, but it's something that can be done for relatively cheap and I think it's something that would give me a substantial leg up on the local competition. I would do something like $25 an hour for recording and rough mix or $35 an hour for recording,rough mix, and upload to all major online distributors. Essentially I would leverage the studio as a record label. I would also bring in producers who are ready to lease beats for the low if the track is recorded with us. I make beats as well.
There's a couple other different ideas I have in order to set my business apart from the competition.
Sounds like a good idea. But why charge less when you plan on offering more services?
 

Kamikaze Revy

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Sounds like a good idea. But why charge less when you plan on offering more services?
Just an idea for tiered pricing based on additional services that I feel a lot of studios don't bother to think about.

Ex: Base price $25/hour
$35/hour with digital distribution
$30 a beat for lease
$50 one page website
$100 music video

That sort of thing. Not that any of these prices are concrete, but like I said, I would want to function more like a record label than just a recording studio selling mic time you know?
 

Swirv

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Just an idea for tiered pricing based on additional services that I feel a lot of studios don't bother to think about.

Ex: Base price $25/hour
$35/hour with digital distribution
$30 a beat for lease
$50 one page website
$100 music video

That sort of thing. Not that any of these prices are concrete, but like I said, I would want to function more like a record label than just a recording studio selling mic time you know?
Might as well have the ones with marketable talents sign a deal. This venture has potential
 

Kamikaze Revy

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Might as well have the ones with marketable talents sign a deal. This venture has potential
Absolutely. The music business has changed dramatically and it seems like studios have been the last ones to adapt.
Anyone with a bit of know how can already upload their own music to digital distributors and even set up their own webpage. The thing is, to do this effectively it takes a bit of time and patience. It's not even that hard. That's why I think if costs can be kept down, most artists will have no problem paying $10 - $20 more to have me set up all of these very easy things for them.
 
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