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I Need advice (Business wise) on how to start a professional music studio & a workspace for visual arts.?

  • Any help is greatly appreciated. I am a 21 Year old music producer, I have been producing from home for 5 years now. At the moment, im working minimum wage trying to save for some better studio equipment. I have no money, no line of credit, and no collateral... Though I do have Talent, and a lot of it. Not to brag, but I make instrumentals that are radio worthy. I know almost everything you need to know when it comes to recording and being a music producer. I am excellent at creating mixtape/album cover's via Adobe Photoshop. and I am also really good at creating & editing music videos. My goal is to combine all three into a business were customers can achieve their artistic goals be it audio/visual through my company. I already have customers willing to pay for my services but I don't have a place to accomplish it. I have already done the Home studio set up and although its a minor success, The fact of the matter is people want to pay to record in a professional studio environment with professional studio quality. Not a small setup at someones home. The problem at hand is simple....Money. and none of it. I have done the correct calculations for the expenses, equipment, copy-writes, promotion, rent etc.And In order to achieve a legit professional recording studio you would need an average of 80 - 100 Grand, But that's being generous. It would probably cost a lot less, or maybe more. I have consulted with other businessmen and they said my chances of getting a bank loan is almost impossible with no credit, not a solid income, and no collateral. This industry has a lot of potential for generating a high income. but like the old saying goes - "You Need Money, To Make Money". I just don't think its fair that I have all this talent to be exposed but the only thing holding me back is money. But life's not fair right? and asking people to invest on my talent is out of the question because I think they will not want to invest in something that is not a material object. So what should I do? How can I get started in opening my business, If i can't get resources from the bank, investors, and other people. Like how do other people do it who have nothing and somehow get money for their business. I realize that it will take a lot of hard work and saving here and there, but If I'm earning minimum wage, and I can't get a better job because of my lack of education, how am I suppose to save money when I have to spend every cent I get on bills, family, and other expenses. Again, Any help/advice is greatly appreciated. Thanks for taking the time to read my question/problem. Thanks, - Brian

  • Answer:

    Actually, yes , very good idea : you write here so many good valid questions, all of them about business. And you are very young -- just a right time to get an education in what you are lucking: business , financing , accounting or whatever of this kind that is good for your small business. You'll learn the "language " of bankers and communicate with them in their language . Or, you will be able to get better paying job if needed , and use your own money for the music stuff. You might think that it is difficult , only later it will be just more difficult.

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Actually, yes , very good idea : you write here so many good valid questions, all of them about business. And you are very young -- just a right time to get an education in what you are lucking: business , financing , accounting or whatever of this kind that is good for your small business. You'll learn the "language " of bankers and communicate with them in their language . Or, you will be able to get better paying job if needed , and use your own money for the music stuff. You might think that it is difficult , only later it will be just more difficult.

This is a hard one to work out. When you say acoustic music what exactly do you mean? Acoustic guitar and vocals? Live style music with no amps but basically a full band? Or just the vocal tracks layered over ready made music? Even if you give us that much information then we would have to hear the type of music that you are playing and know how competent you are with equipment. I have tried several different options with my band but we ended up wasting a vast amount of money before recording our first CD due to random advice. I'd say ignore all comments on here and go to your local music store and talk to them about equipment. They can gage what you want and give you pro advice and get your response straight up. You will only waste money if following tips from us and my studio wouldn't suit your type of music without more money being invested. If you want a simple recording of a lowish quality then you can buy pretty much anything on the market. If you want it to sound good then you either have to build your studio to your style or invest on a whole professional set up. Personally I'd go with the former rather than the latter.

Barbara

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