There’s no shortage of startup business ideas these days, and despite the COVID-19 crisis affecting much of the world, many entrepreneurs are keen to launch new businesses.
If you enjoy creating music and want to help other independent, like-minded singer-songwriters, one fantastic business idea is to create a professional music studio. Here are five of many reasons why it makes sense to launch such a business in 2021:
1. Plenty of People Want to Hire a Studio
Creating music in your bedroom is one thing. But, if you want the world to take you seriously and potentially get signed by a record label, you’ll need a professionally produced album. The only way to make that happen, of course, is by using a professional music studio.
With that in mind, you’ll have no shortage of independent singer-songwriters that want to record a new album that sounds perfect, regardless of where or how it gets played by people.
2. It’s Easier to Set Up Than You Think
Thoughts of spending thousands of high-end equipment, accessories, and furniture might fill you with dread. The truth is, you can create a professional music studio without making yourself bankrupt in the process.
For example, you can invest in a DAW (Digital Audio Workstation) complete with guitar loop kits, orchestral ensembles, and other sound effects without spending thousands buying dozens of instruments to rent out to your clients.
What’s more, materials like sound-deadening foams are affordable and easy to install and don’t require professionals to set it all up for you.
3. You Get to Meet Lots of Cool People
The likelihood is extremely high that you’ll meet people who will end up becoming famous musicians and names in the music world. Besides that fact, you will undoubtedly make life-long friends with many of the individuals who pass through your studio doors.
It’s no secret that the music scene is a very social one. If you’re a musical entrepreneur who also enjoys talking to people, launching a music studio business could be the best decision you’ve ever made!
4. You Can Use It for Your Own Purposes
There’s no reason why you can’t use the studio you rent out to people for your own purposes. For instance, you may wish to record some new songs or instrumentals but want to do so away from home.
Or, you might wish to moonlight as a voiceover artist and want to record crystal-clear voiceovers for your clients in a quiet environment. When you’ve got free slots at your recording studio, you can use them for your own purposes!
5. There Is Little Maintenance to Perform
While it’s true that some businesses require a lot of time and money spent on them to maintain their services, that’s not the case with your music studio. You might need to conduct periodic maintenance on your DAW or occasionally vacuum each room.
But, there’s nothing else you need to fix regularly. It’s one of the few business ideas out there where ongoing service maintenance costs are low!