A music rehearsal studio is an excellent business opportunity for the business minded music lover. Amateur and professional bands need rehearsal space. Finding somewhere to set up guitars, drums, microphones, and a PA system to rehearse is becoming increasingly difficult. A studio for rehearsing music will be very popular among church choirs and bands, weekend hobby musicians, and professional artists. To be successful, it is important to cater to all three.
Many musicians would like to put a band together, but do not have adequate space to rehearse. Also, it can be a hassle to lug around large pieces of equipment (guitar speakers, drum sets, PA systems) just for a two hour rehearsal. Solving these problems can mean a profit for a music rehearsal studio business.
The lifestyle of a music rehearsal space owner is going to be atypical. Plan on having your days start in the late morning to early afternoons. Most musicians stay up late, hold day jobs, and only have time to practice and perform at night or on weekends. You will also need to have knowledge of music and musicians before starting. An understanding of what musicians need in a music rehearsal space will set you apart from amateurs who are just looking to make money off of empty property.
For a professional music rehearsal studio business set up, you are going to need plenty of music studio equipment. Your studio or studios should be set up with basic equipment like a drum set, speakers, amplifiers, microphones, and a PA system. You want to make it easy for your customers so that they can make the most of their time, and so that you can turn over the rehearsal space faster. You don't want your 10PM appointment to be waiting on your 8PM appointment to tear down their equipment. Make it easy for the musicians to get in to the space, tune up, practice, and get out.
Besides basic music studio equipment, you should consider having recording equipment on hand. Musicians appreciate the ability to record their practices and then listen to them to make improvements. Your customers might also need to record a demo of their songs to get their band booked to play local gigs.
As a start-up business, you need to have a business plan. Take a look at the competitors in your area. There is a good chance that your music rehearsal studio will be unique to your area. If it isn't, then you need to ask yourself if your town or city is big enough to handle more than one. You should also research your competitors by booking some practice time of your own. You can see the business from their customers perspective, see what works and what doesn't, and capitalize on their areas of opportunity.
Another service you might want to consider offering as the business grows is running the sound for local bands. You will have already established yourself with the local music business, so this shouldn't be too difficult. You will find that Friday and Saturday nights are slow for the rehearsal space because the musicians are out performing on those nights. Offering your services as a sound technician allows your business to keep making money when you might otherwise have to close.
Opening a music rehearsal studio will be a very welcome surprise to musicians who do not have access to one. You should be able to find musicians in any city who are more than willing to pay for the convenience of a practice space with no neighbors to disturb, and that makes setting up and tearing down very easy.