There's two main reasons why someone would want to start their own recording studio. To have their own personal space, maybe even in their own home to record their music on their own time or to have a recording studio they could rent out to other bands, musicians and songwriters who are in need of a good facility to record their music and so run the studio as a business.
Of course, one could set up such a studio and do both of these things with it. Personally I use my home studio exclusively for personal use but do have several musician friends who started this sway and have decided to make it a full-time money making business.
If your desire is to start a recording studio for business reasons then great, but you have to have the right business model to make it a success. The good news is this isn't very complicated and anyone who has the desire and proper business model and plan can make it work.
There's kids with tons of technical and recording know how putting together home studio's all over the place but that doesn't mean they can make a living with it if they don't understand the business side. Meanwhile, someone with half the recording talent can turn the same studio into a real full time business career by taking the time to learn the proper business plan.
Competition?
Some people are of the mindset that a lot of competition can kill you. Many successful people will say that no competition will kill you. This means that for any business to thrive there has to be plenty of people who are buying the product or service the business is selling.
In the world of music: bands, songwriters, singers, musicians there is always a never ending supply of potential customers for a good recording studio. It's true that many are now making their own home studio but most of these setups are not and never will be a professional quality studio, meaning they will still be taking their home productions to be finished at a better studio than the one they have at home.
Cost?
The reason many amateur and pro musicians are building their own home studios is because the digital recording equipment that's available today is simply quite amazing in both what it can do and the price. Years ago you couldn't even think about setting up a professional quality recording studio for under a few hundred thousand dollars but because of digital technology advancements in the recording world this just isn't even close anymore.
While a decent home studio can be set up from a few hundred to a few thousand bucks, your better pro quality studio would need to be much better than that but still inexpensive enough that would make it possible for anyone with the right attitude would be able to get it done.
Johnny Ferreira is a professional musician and editor of YourHomeRecordingStudio.com featuring this special report on how to Start a Recording Studio.
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