You make music and record music in your home studio. You put down some killer tracks and you ship off your demos to whoever will listen. This has been your recording life for many years and you feel like you've done all you can to keep your hobby on track. But what if your hobby could become so much more? What if you could make profit from your hobby and make a viable and sustainable second income. It's time to use a little versatility in your production house and let it become a money-maker and not just a hobby. Writer Jeffrey Fisher, in his book Profiting from Your Music and Sound Project Studio, shares many insights in how to do just that!
One idea he shares is first looking at what you do for yourself as a producer, and offering those services to others. Think of the many hats you wear as each of those hats could potentially earn you some extra dough. Advertise in your local paper, community magazines, or on the Internet for any of the following:
Songwriter - offer your services to help struggling songwriters or to teach a songwriting course
Producer - present a small class with home recording production techniques or how to setup a home recording studio
Mixing and Mastering Engineer - you do this for hours for your own projects, so why not either teach others how to do it, or mix and master tracks for others
Soundtracks for videos, webinars, or podcasts - there are people searching for the right connection to give their projects that added flair--that could be you!
This is just a partial list of what you could accomplish with your studio. just one of these ideas could lead to a stream of customers. Find out how to negotiate prices; barter for a service or product; or simply how to put your studio on track for income potential.
Other ideas to create profit presented in the book includes: video production; adding web site content; a variety of lessons; commercials and jingles; run your own record label (my favorite); audiobooks; on hold messages; sound editing for TV, video, or film; sound design for TV or video games; etc. etc. Just use your imagination and you will see and find many opportunities to turn your home production studio into a money-making machine.
Another idea is to use the heck out of the Internet. The Internet has been the great game changer for the way we view entertainment. As a production company, you are poised to use this to your advantage. You should seriously invest in a website, get your product online, and find simple ways to advertise what you do! Since you are here at 1Dray Productions, you realize that I have purchased my own little piece of the net to create, sell, and promote what I do. This one-stop-shop hasn't been an easy choice--- but for me it was the right choice. I can now say I have a place to sell, share, and connect my creations and products with the world without popups, additional fees, or interruptions.
You see my online journey began in the days of MySpace. I used to upload my music there, and I would also use the site to connect with other like-minded home producers. It was great in the early days of networking, but I still needed a way to upload and create albums and sell my songs. The two services that I used for this part of my journey were Disc Makers, for creating and designing my CDs, and CD Baby, for selling those CDs after creation. I used these two services for many years, but I struggled with the expense to create, and the fact that I was creating many different sites for each product. This became a little monotonous for both me and my early fans. Online I also used FaceBook for creating a fan page and announcements, SoundClick for introducing new song material, and was about to venture with Reverb Nation, until I discovered Bandzoogle. Bandzoogle helps bands and artists create stunning web pages. Although I consider myself more of a songwriter/producer, I knew that I had found a good fit and enjoy updating, designing, and blogging on my site.
Thinking outside the box of your home recording studio could potentially bring you in some serious cash. With a little advertising about what you can offer, you could be making money in as little as a few days. Someone needs a demo. Someone in your area is looking for help with mixing their latest track. And someone in your area is waiting on that killer jingle for their used car commercial. Why not let that someone be you! And instead of letting your hobby sit there while waiting on some music executive's desk, why not make a profit doing it for your self?
Dray