Re: Opening a Rehearsal Room Studio
Right now is an uphill battle to start a new business, secondary market conditions have just only now started opening back up thanks to tarp and talf. My family has been looking for funding for our second restaurant for 13 months and finally, just this month have been approved even though our first cash flows 10k per month and we have 130k in CASH in the bank. If you're looking to go SBA, forget it, that well's dry well into next year. 100k seems awfully high to me though for buildout. I'm sure there are tons of vaccant industrial space that you can buildout for much cheaper. To construct such a rehersal studio, i think all you need to do is frame up the walls, wire them and then use soundproof drywall like quietrock as your walls. I know that rehersal studios down here in Miami are running about $15-25/ per hour. There are no monthly rated places here, when i was in Denver, the monthly rated places were about $300/ month for a 15x15 space and were 100% occupied with a waiting list. I think it's fair to assume 100% occupancy even charging double per footage vs market industrial rates. If you have 100 grand though to drop on this "business" why not just buy a house to jam in??
I don't want to work, I just want to bang on the drums all day!