Been offered a (small} studio for sale...

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Been offered a (small} studio for sale...

Postby g60_dave on Mon Dec 14, 2009 9:27 pm

Our rehearsal studio, which has 2 rooms fully sound proofed (obviously) and a reel to reel unit, with a decent size desk and effects etc, cd burners etc. essentially a demo studio. of really good quality. The owner is skint and has offered me the whole lot inc 2 decent PAs (one in each room, both good enough to use/hire out for live use) a load of guitars and amps (squires etc and trace elliot, peavey line 6 etc), drum kit. Generally a good set up.
Now Im tempted. Its a good price and as a sideline, could be good but is a tape studio still feasable? I could stick a mac in easy enough but Im not a rich man.
I can get the lot (excluding rent,very cheap) for maybe £5k. I hate my job, and would love to develop something like this, but do yuo think its a deal or a stupid idea?
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Re: Been offered a (small} studio for sale...

Postby tone-lizard on Mon Dec 14, 2009 11:39 pm

For sure you'll have to hire someone to help you, and hire someone to maintain the gear, so factor that in as well. In fact, I may just say keep your day job, no matter how much you hate it, and have someone run the studio until you know you'll do alright doing it full time. Most recording will be at night and on weekends, anyway. Probably most rehersals will be at night as well. So the daytime will likely be pretty dead.
Then figure how to nickle and dime your way to riches. Seriously. Those amplifiers in the studio? If you're doing a demo, you rent them out. If I wanted to use your drums? I pay extra. A lot of studio around me do that, but then again, they have killer vintage gear to choose from. If you do get a Mac setup, that's cheaper than recording analog. Assuming it multitrack, and not just a stereo deck. But you get the point. You have to be an a**hole, since 'business is business'. Eventually you can cut select friends a deal, but at the begining you have to be serious. Drum heads cost money. Tubes cost money.
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Re: Been offered a (small} studio for sale...

Postby g60_dave on Tue Dec 22, 2009 4:35 pm

Quick update...Ive come to an arrangement with the owner where he is now my silent partner for a minimal percentage, but more importantly Ill be running the place. Its already in a position for it to be making maybe £60 a week after rent etc. Not a lot, but its running at maybe 20% of the capability as I have room to add another room, do repairs, PA hire etc.
So my new year resolution of working for my self is kinda up and running already!
If it all goes well over the next year, Ill find the cash to buy him out.
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Re: Been offered a (small} studio for sale...

Postby 57lpjr on Tue Dec 22, 2009 8:31 pm

I hope it works out for you, just make sure and get some good tax advice.
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Re: Been offered a (small} studio for sale...

Postby TsunamiCables on Wed Dec 23, 2009 6:51 pm

What Kind of real-real is it? Cause if it is a good one you could sell it and have some start up cash and be able to buy a mac.
Hope all goes well.
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Re: Been offered a (small} studio for sale...

Postby pckpat on Mon Feb 15, 2010 2:26 am

don't know how english tax system works,but it's probably similar-over here you can run your business at a loss for the first three years-get money back,and write off a lot of your day job income,provided you have a good tax-guys(or if you are sharper than me :lol: )any gear you invest in can be written down as well.good luck.
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Re: Been offered a (small} studio for sale...

Postby MichaelE on Mon Feb 15, 2010 2:30 am

What sort of tracking equipment and desk does the studio have?
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