Business Plan

Business Plan

Building a Small Home Studio

There are several places where you could set up a small home studio. Most likely places to be picked are bedroom, attic or basement.
In my opinion I would preferably pick a basement. This is because soundproofing won't be needed as much as other places because a basement is usually surrounded by concrete.
If you live in the basement then soundproofing would be needed most likely on the roof and windows depending on what your neighbours are like.


Equipment wise, what I would personally need or would be recommended to have are amplifiers, mixers, microphones, electric instruments and cables.
My budget for the studio would roughly be about £1000, with £1000, that can buy average equipment like small Fender or Marshall guitar amplifiers, Roland or Behringer bass amplifiers, a Yamaha MW12C USB Mixing Studio/Mixer and Chord or Samson studio microphones would be a cost effective choice of studio equipment.
To save money, besides cheap equipment, instruments that can be recorded are things that are easy to plug in. For example, vocals, bass and guitar can all be recorded through a DI box straight into the software if a mixer was not available and it cuts down on noise and interference.

The purpose of having a home studio would be to be able to make my own tracks at home without having the need to book out a different studio where I'd have to pay and lose money, but this way, I can earn money by renting out the studio to other producers who will want to produce their own tracks, and also artists and other musicians who want to hire a producer to make and mix their tracks and at the same time I would be earning money from it all as well. Nowadays, more artists want to be independent and record labels are dying.

Essentially, you can do half of the stuff that they pay to do for the price of next to nothing in your home studio, for example, you can pay for your tracks to be mixed and mastered or you can do it yourself although its not recommended to master your own tracks.
At some point, I'd create a website and a company logo to advertise my studio so that I can hopefully get more business since more people would know about the studio, other ways of advertisement could be flyers, business cards and presentation folders.  
Hiring a legal assistance would be essential and also very helpful seeing as there would definitely be legal issues in the future about having and renting out a home studio in your home.

In the long run, you will pay the cost it took to build your own studio, then after that amount has been surpassed, it will become profit. Charging for use of my home studio would help recover the money used to build the studio quicker and eventually in turn help make a profit.