Each fantastic contractor knows that so as to build a quality home it all starts with a good base. The land the house is built upon needs to be stable, the trenches for the footing has to be deep enough, the concrete has to be mixed properly and it has to be poured into a timely fashion. If the base isn’t constructed properly, it leads to all kinds of problems which range from leaks and cracks to crumbling and changing that jeopardizes the integrity of the whole construction.
The same holds true for your recording studio business. If the foundation is not rock solid, the entire business risks crumbling into the floor. Twenty years ago, the lack of competition and a high barrier to entry into the recording studio company was sufficient to almost ensure significant profits for the studio owner, even if the foundation was less than ideal. But much like the new housing boom in the early 2000’s that flooded the market with poorly constructed homes made for quick profit, the home and project recording studio flourish flooded the marketplace with discount pricing also, generally speaking, a subpar product. Many specialist studios were quick to drop prices, and the professional itself competing directly with home studios. Even though it seems ridiculous that Rolls Royce could be a direct competitor to Hyundai, that’s just what has occurred in the recording industry. isdn studio toronto constructed without proper foundations were exposed and forced to compete on cost alone.
The simultaneous collapse and fragmentation of the recording sector sparked more dread during the recording studio industry, as decreasing tag budgets dried up profits. When you take into consideration all of the expenses of a working studio– lease/rent/mortgage payments, electric, insurance, safety and gear repair, just to name only a few– charging the”going rate” makes it hard to break even. For the studio owner attempting to make a living, it’s downright frustrating.
We could sit here and complain all day about local bands using Garage Band to record their songs, or the ad agency turning their broom closet into a recording booth, but it is not going to change. At least not in our favor. Recording equipment is only going to continue to get better and more economical. The low costs will only lure more would-be customers into attempting to capture themselves. I know I dropped it. When it wasn’t right, I began buying tens of thousands of dollars of new gear that promised to unlock”that sound.” Soon, I basically had my own recording studio, but at a cost. I’d spent countless dollars and committed a significant part of my life to making a record that turned out decent. Not wonderful. Just acceptable. It was something I had been proud of because I did it myself, but it was not record tag quality. Part of this was lack of technology skills. Part of it was lack of production skills. I tried my best to cram as much learning as I could to this year-long recording job, but the fact was that these abilities take several years to develop, and it had been hopeless condense so much into so little time.
I’m sure this story is quite familiar to lots of engineers and studio owners. But however easy and economical it’s to buy and set up some recording hardware or software, the difference between your first project and your latest is probably mind blowing. There were many decades, many teachers, many successes and lots of failures between those two things in time. However, to your potential clients, toying with the idea of”saving some cash” and recording themselves, they do not understand any better. They think it’s easy. They do not know what they don’t understand. Nonetheless, it’s up to you to show potential customers that you will actually be saving them a lot of money by paying you what you are worth.
To achieve your potential clients in a manner that they’ll be more than prepared to pay you high end prices for your work, you will have to lay a good foundation first. This foundation comes in two parts. The first part is your talent, ability and expertise you can offer your clientele. That is the reason you’re running a business in the first place, isn’t it? That is what sets you apart from everybody else.
The next part of your foundation is having the ability to effectively communicate what sets your business apart from the rest of the recording studios in your area. Although the word”marketing” may mean something a little different to each person, this is how I define marketing. Specifically, communication your offering in a manner that would make your potential customer feel silly if they didn’t record on your studio.
That is where many significant studios crumbled. Once upon a time, relationships with major record labels could bring high paying work into the studio nearly automatically. There wasn’t any reason to advertise a recording studio. At the moment, the thought of it almost seemed absurd. The studios had no procedure in place to get new business. Bands and artists without tags did not have cash to cover high studio prices. Together with the rise of the home studio, it became much more difficult to reach prospective customers. Recording studios with no strong marketing foundation began to drop prices to attract business. This caused gains to nose dive and several studios went out of business.