How To Launch An Audio Business
Building an audio business is not a small task. There are a lot of costs to consider from the building to the audio visual equipment. You want to make sure that you are providing quality service but at the same time, you do not want to waste money on unnecessary expenses under the guise of providing quality service. Here are a few tips on how to launch an audio business that will not leave your pockets empty.
Hold Off On Purchasing A Facility
It may be better for you to either work from home or rent a space in an audio facility. There is no need for you to come up with the money to have a top of the line facility. Though you may need to be putting out top-of-the-line quality work, which is understandable. As long as you can house the top of the line equipment at your spot, or wherever you feel most comfortable, you can work from anywhere. The days of owning a center with expensive equipment are over. Work in the shed, the basement, your mom’s house, wherever. As long as you can set it up, you are going to save money in the long run.
Rent Equipment
There are some occasions where it does not make sense to purchase and own equipment, especially if you are a project-based audio entrepreneur. If you need something specific for a project that you do not already have, and you can be sure that you will never use this equipment again, consider renting it. It is important not to close yourself off to opportunities simply because you do not have the tools to complete it. You can also save tons of money on purchasing equipment you may not be too familiar with.
Borrow Equipment Or Props
Whatever you need, there is a friend that has it or knows someone who has whatever it is you may be needing. Depending on the type of relationship you have, ask to borrow it for a project. You also want to make sure that you are insuring it and that you treat it like it belongs to you. Giving something you rented or borrowed back to the owner the way you found it is a great way to increase your chances of borrowing something else of theirs.
Sell Things You Do Not Use
There may be some things you have that you do not even use. Hardware, software, and pretty much anything else you may have accumulated over the years can be sold online for a small profit. Selling things you do not use is a great option when you are strapped for cash and you need to purchase something for a job.
Take Advantage Of Your 30-Day Trails
Using the demo before you actually purchase the product is a great way ensure that you need it. If you have used all your trails, consider using a demo. Some software companies especially offer time-limited or restricted demos. All you need to do is ask. By doing so you are giving yourself more than enough time to figure out if this product is something that you really need to keep in your wheelhouse, or if it is fine that you only use it this one time.
Keep Your Equipment And Lights Off When Not In Use
If you want to keep your overhead costs down, you should consider turning off all your gear, equipment and lights off when you are not using them. When you are not using them, there is no need to have them on. The average cost of maintaining a space in a recording studio, depending on where you are in the world, can cost you anywhere upwards of $500 per month. This is why turning off all your stuff is important.
Buy Used Equipment
There is nothing wrong with purchasing equipment that has been used by someone else. If it is in great working condition, then it should still be able to perform the job just as well as if it were new. It is ok to buy things like rack gear, mixers and keyboards used. It is not recommended that you buy tape and hard drives used.
Consider Going Into A Partnership
As long as these partners believe in your vision, you cannot go wrong going into a partnership. They are a great option for small businesses, particularly those that come with a fanbase. If you have any connections to some great audio companies, test the waters on building a solid partnership. Just make sure that whatever you do, your partner is someone who truly believes in and cares about your business otherwise it will not work.
Use Your Strengths
When you do not have a lot of resources or capital, playing to your strengths is the smartest thing you can do. Figure out what makes you unique, what sets you apart from every company in your industry. Once you find out the answers to those questions, you can redirect your energy and focus toward that part of your business. Everything else can be left for someone else to fill in the blanks.
Do Not Shy Away From Crowd Funding
Things like Gofundme and Kickstarter are all great ways that you can raise capital if you are a small business. It may take some time, but you can easily raise capital by crowdfunding. All you have to do is explain your business, what services you offer, why this is important to you and what you plan to do with the money raised. In no time you will be able to raise money and spread awareness about your brand, service or product.
Use Technology To Stay Efficient
There are tons of tools you can use that can pair you with the right professionals who can help expand your company. Most of these tools are free to use. As you are getting your audio business up and running, it is imperative that you keep costs down while still doing A-level work. With those technology tools, you will always be one step ahead.
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