RICK FITZPATRICK
New member
Cool.
Cool.
frederic
New member
Cool, if you ask me. If you ask me wife, it's "Not cool!".
;-)
I just need to figure out the square footage my friend wants, and what footage my non-existant tentant will want, then whatever's left I'll cut down to usable space. The building is ridiculously oversized, and I couldn't possibly build a studio in 1/3 the space. So, I'm hoping to rent the majority of it out, and will still have tons of space for me. While I've done many, many sketches while bored and killing time, they're all useless until I know what space is actually left over.
;-)
I just need to figure out the square footage my friend wants, and what footage my non-existant tentant will want, then whatever's left I'll cut down to usable space. The building is ridiculously oversized, and I couldn't possibly build a studio in 1/3 the space. So, I'm hoping to rent the majority of it out, and will still have tons of space for me. While I've done many, many sketches while bored and killing time, they're all useless until I know what space is actually left over.
B
brzilian
New member
Thanks Frederic - great insight.
On a semi related question, have you seen a shift in the type of work you do? Is there a specific market you have catered to outside of studio recording? I've been thinking there is probably great opportunity in hiring out my time for corporate A/V production work. There never really seems to be anybody good at that stuff internally (at least in my experience) and that is probably a good way to leverage other skill sets of mine (3D modelling, rendering and video/animation) as to provide a marketeable service.
What do you think?
P.S. Sorry for all the questions - I've just been in a funk lately when it comes to my career. I'm beginning to wonder how common mid life crises are for people in their early 30's these days.
On a semi related question, have you seen a shift in the type of work you do? Is there a specific market you have catered to outside of studio recording? I've been thinking there is probably great opportunity in hiring out my time for corporate A/V production work. There never really seems to be anybody good at that stuff internally (at least in my experience) and that is probably a good way to leverage other skill sets of mine (3D modelling, rendering and video/animation) as to provide a marketeable service.
What do you think?
P.S. Sorry for all the questions - I've just been in a funk lately when it comes to my career. I'm beginning to wonder how common mid life crises are for people in their early 30's these days.
frederic
New member
I shifted the type of work on purpose... since I don't have a pro studio at the moment, just a little home studio, and I'm not being aggressive about acquiring new work either.
Lately, I've done some surround mixing for other people's projects, where it's already recorded and they hand me the tracks... and I'm also doing the complete soundtrack for two amatuer films, one for a friend, one for a reference through that friend.
I've done corporate work before... where they're making a training video and they need a salesy jingle, or some releveling of the audio, and some finalization. I won't call it mastering, but a lame version of that.
My personal joy is taking a band, or a vocalist, and bringing out their best, i.e. recording, mixing, mastering. This is is why I'll probably be building yet another pro studio in the warehouse eventually.
I think there is huge opportunity in what you described... and... corporations have money, and generally will reuse your services until you piss them off.
Lately, I've done some surround mixing for other people's projects, where it's already recorded and they hand me the tracks... and I'm also doing the complete soundtrack for two amatuer films, one for a friend, one for a reference through that friend.
I've done corporate work before... where they're making a training video and they need a salesy jingle, or some releveling of the audio, and some finalization. I won't call it mastering, but a lame version of that.
My personal joy is taking a band, or a vocalist, and bringing out their best, i.e. recording, mixing, mastering. This is is why I'll probably be building yet another pro studio in the warehouse eventually.
I think there is huge opportunity in what you described... and... corporations have money, and generally will reuse your services until you piss them off.
nuemes
Be Here Now
Frederic, thanks for spending the time to share such good ideas and information! I think you're right personality types (that coming from an INTP, eh?) and your holiday gift-giving advert idea sounds excellent.
I opened a one-man home studio last month and have been very lucky with free internet advertising. So far all of my business has come from that alone (booked about half the time this way). I ran a Google search for "Seattle Recording" and found two websites that host free adds in prominent positions. While surfing you click on the add it takes you directly to the site which looks professional and is thourough. If it weren't for having a talented friend that builds sites I wouldn't have a shot at any of the online biz!
I opened a one-man home studio last month and have been very lucky with free internet advertising. So far all of my business has come from that alone (booked about half the time this way). I ran a Google search for "Seattle Recording" and found two websites that host free adds in prominent positions. While surfing you click on the add it takes you directly to the site which looks professional and is thourough. If it weren't for having a talented friend that builds sites I wouldn't have a shot at any of the online biz!
frederic
New member
The "Gift of Song" crap really kept the doors open when the studio was dead.
For some reason, my various attempts at pro studio ownership had seasonal dead spots, and at least one day a week that beyond dead.
Stocking accessories is a profitable thing too... and you can charge a little more than a guitar store. Not ridiculous, but a little more, for the convienence. We sold tons of drum sticks... not sure why... but I'd say about 1/2 of our clients (mostly practice room customers) would buy sticks when they walked in. We'd sell them for $8 and we paid less than a buck a pair
It all adds up...
Then the municipality takes it just as fast in taxes, and in electric LMAO.
My first studio was fun... I didn't get an electric bill for almost a year. Seems my meter was in other tenant's space, and the electric company would read theirs, and ours, and add them together and bill our neighbor. The idiot didn't notice either.
A 22 room studio does use a lot of electricity, you know ;-)
For some reason, my various attempts at pro studio ownership had seasonal dead spots, and at least one day a week that beyond dead.
Stocking accessories is a profitable thing too... and you can charge a little more than a guitar store. Not ridiculous, but a little more, for the convienence. We sold tons of drum sticks... not sure why... but I'd say about 1/2 of our clients (mostly practice room customers) would buy sticks when they walked in. We'd sell them for $8 and we paid less than a buck a pair
It all adds up...
Then the municipality takes it just as fast in taxes, and in electric LMAO.
My first studio was fun... I didn't get an electric bill for almost a year. Seems my meter was in other tenant's space, and the electric company would read theirs, and ours, and add them together and bill our neighbor. The idiot didn't notice either.
A 22 room studio does use a lot of electricity, you know ;-)
G
geet73
OMG!
Awesome thread. Thank you.
As I'm coming closer to the point in my life where I need to figure what I'm doing(Fuck!), this sheds some light on the possibility of stepping up my "hobby". I'm still debating whether or not I should even make an attempt to start up something more serious. I certainly don't have the funds to purchase or rent a building to work in right now. The 'rents house isn't working too well.
As I'm coming closer to the point in my life where I need to figure what I'm doing(Fuck!), this sheds some light on the possibility of stepping up my "hobby". I'm still debating whether or not I should even make an attempt to start up something more serious. I certainly don't have the funds to purchase or rent a building to work in right now. The 'rents house isn't working too well.
frederic
New member
Instead of going nuts Geet, you might consider keeping your hobby studio as-is, and taking on jobs that "fit" in your facility. Starting a pro studio is expensive, and you can't avoid that unless you already own the property and gear it's going in... then treating a large facility is your only major cost, and you know that's not inexpensive either, at least if if it's done right. A pro studio won't have 10 moving blankets on the wall and a Tascam porta studio, yanno ;-)
B
brzilian
New member
frederic said:
+1
Spend more money once you start bringing in cash with what you have.
B
brzilian
New member
Frederic,
You haven't touched on the tax aspect of starting up your own recording studio. I'm sure that has to come into play at some point once you start making money with your business and Uncle Sam demands a piece of your pie.
Any advice there?
You haven't touched on the tax aspect of starting up your own recording studio. I'm sure that has to come into play at some point once you start making money with your business and Uncle Sam demands a piece of your pie.
Any advice there?
frederic
New member
I don't pretend to be an accountant, but if you charge for services, most states require you to collect sales tax. Same for accessories and such.
It's just paperwork, and something else to keep track of.
The Feds hit your company for taxes of course, and taxes for your employees. The easiest way of doing this is to hire an accountant to set up your software so the deductions are automatically calculated, removed from paychecks, then go into general ledger accounts that you can send the money in quarterly.
The only "tax" thing I can suggest is pay yourself less, because the more you pay yourself, the more taxes you pay - because your company pays taxes on profit, then you pay income tax. Better to pay yourself less, and have your studio provide "stuff" as part of the job. Like, a company car for "meeting clients", lunches for employees (motivating business perk), etc, so less goes to the feds. stuff like that.
It's just paperwork, and something else to keep track of.
The Feds hit your company for taxes of course, and taxes for your employees. The easiest way of doing this is to hire an accountant to set up your software so the deductions are automatically calculated, removed from paychecks, then go into general ledger accounts that you can send the money in quarterly.
The only "tax" thing I can suggest is pay yourself less, because the more you pay yourself, the more taxes you pay - because your company pays taxes on profit, then you pay income tax. Better to pay yourself less, and have your studio provide "stuff" as part of the job. Like, a company car for "meeting clients", lunches for employees (motivating business perk), etc, so less goes to the feds. stuff like that.
G
geet73
OMG!
frederic said:
I wasn't planning on going nuts. Heh. It's just been a big a huge interest for me for the past 5 years or so. I certainly don't have the gear to do anything all that serious right now. Heh. I'm workin' on it.
But thank you. I'll be checking back for any updates.
N
Niimo
New member
Frederic, I'll start by saying you really should find a way to get payed for your posts. I Check for them everyday. I plan to have my own studio someday and your posts brought things to my attention that i nver thought about. Keep them coming. I'm really interested in what you might have to say about the actual recording process. I'd hope for tips and maybe some trade secrets.
Niimo
Niimo
W
wpawley
New member
Studio Time
Well, as a newbee on here, it seems to me that someone went through a lot to learn the business of running a studio (or any small business). I am also thinking about getting back into it again after a lay-off of several (more than I care to count) years. I plan on using a Roland VS-2480 to do mobile recordings of local and area music. I have done this before but now I will be using Didgital gear instead of Tape. Thanks for reminding me of so many things that I had forgotten from years ago.....
Well, as a newbee on here, it seems to me that someone went through a lot to learn the business of running a studio (or any small business). I am also thinking about getting back into it again after a lay-off of several (more than I care to count) years. I plan on using a Roland VS-2480 to do mobile recordings of local and area music. I have done this before but now I will be using Didgital gear instead of Tape. Thanks for reminding me of so many things that I had forgotten from years ago.....
frederic
New member
Niimo said:
Want my paypal account?
Kidding aside, thanks for the compliment!
reshp1
New member
Thanks for the great info, this is something that I spend much of my work-week day dreaming about. How do you feel about offering to record for free, either to attract really talented artists that will probably be successful if not famous someday, or as a "try before you buy" promotion. Also, did you guys ever try to network with the local indie labels and offer them special rates if they referred their artists to record at your studio? Hopefully one day I will have the financial startup (not to mention the balls) to open a studio as my primary income, but in the mean time it sure is fun to think about it. Thanks again for taking the time.
How do you feel about offering to record for free, either to attract really talented artists that will probably be successful if not famous someday, or as a "try before you buy" promotion. Also, did you guys ever try to network with the local indie labels and offer them special rates if they referred their artists to record at your studio? Hopefully one day I will have the financial startup (not to mention the balls) to open a studio as my primary income, but in the mean time it sure is fun to think about it. Thanks again for taking the time.
frederic
New member
reshp1 said:
At the time I was in the business of recording, mixing, and mastering. I was not in the business of producing, distribution, and marketing. A few bands that passed through asked us if we'd produce them (i.e. sponsor them, record them for free, or something along those lines) and we simply declined. The facility was large enough that I felt it was important not to be distracted by anything other than the intention of the facility... Could I have? Maybe. I simply chose not to.
reshp1 said:
Nothing that formal, and nothing in writing. We did have one "producer" who brought us a lot of his clients to record, and of course we extended him a break for being a loyal customer, but nothing more official than a handshake and us valuing his business.
Maybe that should have been something we pursued at the time... but I was really hell-bent on remaining focused on recording, mixing and mastering, and was an absolute asshole to anyone who tried to distract me from such endeavors.
N
notbradsohner
Compression Addict
Dear Frederic,
Thank you for completing my semester project for my "Business Principles" class I am taking.
Sincerely,
Brad Sohner
seriously, this is great stuff. I havent had a chance to read it all, just thru the 11th post. I got really interested in the business side of this, (possibly a college major) and this came up at the perfect time. Thanks again!
Thank you for completing my semester project for my "Business Principles" class I am taking.
Sincerely,
Brad Sohner
seriously, this is great stuff. I havent had a chance to read it all, just thru the 11th post. I got really interested in the business side of this, (possibly a college major) and this came up at the perfect time. Thanks again!
N
Niimo
New member
frederic,
when writing a business plan for a studio, and it comes to the yearly projected income of the studio, how do you get those figures. pull them out of thin air or is there a generic way to calculate that.
when writing a business plan for a studio, and it comes to the yearly projected income of the studio, how do you get those figures. pull them out of thin air or is there a generic way to calculate that.
noisedude
New member
I thought you weren't Brad Sohner?notbradsohner said:
This is the first time I've found this thread, and the first thread in a while to go straight to my printer. Nice one!
Nik
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