Originally Posted by Monica McCoy
I suspect you are significantly underestimating the capital requirements for such a venture. I suggest you contact the owners of existing facilities and ask them directly. Pick up the phone! A business owner loves nothing more than talking about their business.
No offense to this poster, but DO NOT take this persons advice.
The last people you want advice from on your potential business are the people you will be competing with directly. 99% of all businesses hate competition and the other 1% are most likely ambivalent about it, but in the least would likely NOT encourage further competition.
You would have to do market research as a few above have said. Do you have a big customer base potential? Are the assinine prices being charged (in my area at least) a product of NOT enough supply and high demand? If that's the case in your area, you bet your ass you could make a go of this.
But don't go into it haphazard, because if you're paying rent/mortgage on a facility and no one is renting the space, then you're tossing good money after bad.
Here in the Northern Virgini area, Uncle Bob's storage is a place bands rent and place and its booked, BarcoRebar is a craphole and expensive, the soundry in falls church is a nice place but hard to get bookings and has some strict rules many bands won't dig, etc...I am looking for a place right now, I have a 3-piece Johnny Cash with electric guitars rock band and this is a delima we're looking at right now as the current place is someone's basement and that situation isn't very good.
Best of luck, but I'd definately look into this idea more.