Thinking about expanding your home studio over the holiday season? In this week’s Audio Premium content, Björgvin Benediktsson takes us carefully through the business side of building a home studio – how to save money, and how to create a marketing and business plan. If you’re serious on following through on this, Björgvin gives an action exercise on each step.
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It’s all well and good to set up a home studio in your spare bedroom just for fun. But if you are thinking about doing it for profit, you are essentially opening up a business, which requires a whole new way of thinking. You might be fine with your girlfriend’s stuff scattered around the room from time to time, her shoes getting in the way of your microphone stands but your clients might not be so receptive. A home recording studio, like any small business, needs a plan to succeed. If you don’t put at least something down resembling a game plan for your “for-profit” home studio, you plan to fail. And we don’t want that.
You need a marketing/business plan of sorts. And before you think, “Oh, I’m not going to be using any advertising, this is just a studio,” let me just tell you that marketing is a much broader industry than just super-bowl commercial and Google ads. Marketing revolves around you and the service or product you offer and enables you to see the ways that you can sell yourself to others for the mutual benefit of both parties. In this case it would be a recording studio, where you sell the benefit of an awesome recording for the artist at a profit for yourself.
So, in the spirit of marketing there are a few things to think about when constructing a home studio that you are ultimately going to use as your main income generator. And as a main income generator, it needs to generate a substantial amount of income in order to sustain you, your significant other and/or your six kids.
Table of Contents
- Executive Analysis
- The Four P’s of Studio Production
- Conduct a SWOT Analysis of Your Home Studio
- Money Saving Tips for the Home Recording Studio
- Conclusion
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