Profit Potential of a Recording Studio
A recording studio can potentially exceed $100,000 per year in profit after wages, expenses, and taxes. Music studios vary greatly in quality and affordability. Booking time in a good professional studio can cost anywhere from $50 to $500 dollars an hour.
Factors Influencing Studio Profitability
If you have a good location, business savvy, and market yourself effectively, owning a recording studio can be very profitable. You can also earn money from live sound and lighting gigs to promote your services.
Investment and Viability
The investment required to start a recording studio is large. Startup costs are expensive, but long term profits can be immense if things fall into place. Owning a recording studio is a good investment depending on location, business savvy, and familiarity with the music industry.
Additional Income Streams and Tips
There are other ways to make money from a recording studio beyond an hourly fee through tracking, mixing, mastering, production, songwriting, licensing, merchandising, and more. Passion, planning, and research are key to success in this business.