How to Make Money With Your Home Recording Studio

How to Make Money With Your Home Recording Studio
By James R. Nelson 


Home recording studios are a very hot market in several industries right now such as audio equipment, home remodeling and home income opportunities to name a few. So hot, in fact, it has brought about the closing of some big-name studios due to people deciding to do it all themselves. Furthermore, this is a sector of people that have largely been ignored by these industries until recently. Consequently, the growing demand has stimulated interest to supply it on numerous key fronts leading to increased quantity and improved quality of the many component choices there are to make.


Building your own home recording studio can save you a huge amount of money if it's done correctly, and if not, it can cost you just as much and more. The facilities are typically designed in a way so that they are divided into three major zones, each adequately sound-proofed and separated from the others. The main action takes place in the studio proper, also at times referred to as the "live room." It is essential that the rooms are carefully designed so that they have good acoustics and that there is good isolation between the rooms.


Home recording studios are easily equipped and have prospered with the reduction in costs of Musical Instrument Digital Interface (MIDI) equipment, accessories, and digital recording software. The use of electronic instrumentation or an isolation box or booth can solve small recording studio sound problems introduced by drums and electric guitars that challenge the home studio recording artist. 


At some point you can also capitalize on the opportunity of being able to charge others for the use of your recording facilities and services. Recording studios are a major investment for any performing artist, and for the price of a demo session, you could have your own home studio setup. In fact, it's possible for amateur and career musicians to outfit a home studio so it can successfully compete with expensive professional studios.


Recording studios are one of the most alluring businesses in the world. Many people fantasize about having this kind of profession. They are rapidly proving that they can be successful business ventures, too, given the right location and the right promotion. Here are three more key factors that contribute to success:


1) Charge appropriately. You can only make money if you set your prices sufficient to cover costs and earn a profit. As a studio owner, your time is money as well - and you have to charge accordingly. A lot of people think opening a studio and charging dirt cheap prices will help them win customers. WRONG! That's a recipe for disaster. Believe me, you need to know this before you ever consider starting a studio business.


2) You need to learn and apply the 80/20 rule of recording studio headaches. You will find that 80% of your stress and problems come from 20% of your clients. And the worst part is... those clients aren't worth the money that they are paying you. It is very important to learn how to filter out problem customers so that you can maximize the time you spend with friendly, high-paying customers. Why? Because that will bring you even more business later! Yes, you read that right. The best customers will send you more new clients to work with. But you have to learn how to make them do this.


3) You can turn many of your friends into the best "street team" on the planet! It's quick, it's effective, and it will make you more money than you can imagine. Plus, your street team will love you. Almost everyone you know is going to be interested in your studio business. You have a cool job! Get used to it. When you tell people about it, they will want to get involved. Learn to harness that power! Make more money from their work. That's how the world's richest business moguls get the job done.


So, the bottom line is that there can surely be a lot of fame and fortune and glamour and pleasure gained from owning and operating a home recording studio properly and profitably. It can also be your biggest nightmare. If your enthusiasm for the former is greater than your fear of the latter, then I encourage you to learn all the tricks of the trade from a master like Reuben Rock of Memphis, TN. My best advise for enterpreneurs and those who aspire to be is to "Do what you do do well, then find others to do the rest best."


James Richard Nelson enjoys Helping People Help Themselves through his articles and websites. Visit http://www.jujamvideoreview.com/ to discover more ideas and suggestions on that topic in general.


Article Source: How to Make Money With Your Home Recording Studio