Recording Studio Executive Summary
Benji’s Beats Recording Studio is a startup recording studio based in Atlanta, Georgia that offers professional and affordable quality sound recording services. Through their unique pricing model, Benji’s Beats Recording Studio will be able to provide affordable pricing packages and can tailor a package to meet the needs of each individual client. Amateur musicians, musicians who already have labels, or musicians looking to expand can consult with Benji’s Beats Recording Studio for any and/or all their music recording needs.
Benji’s Beats Recording Studio is wholly owned and operated by Atlanta native, Benjamin Dominguez. Benjamin is an accomplished sound engineer who has produced multiple Grammy award-winning albums. His extensive experience and expertise will allow the recording studio to become one of the most sought after recording studios in the country. Benjamin has a deep passion to help aspiring musicians become successful through providing sound protection services. It has been a lifelong dream of his to one day own and operate a recording studio in his hometown.
The following are the services that Benji’s Beats Recording Studio will provide:
- Music recording
- Sound recording
- Sound production
- Album production
- Commercial production
- Movie soundtrack production
- Audiobook production
Benji’s Beats Recording Studio will target musicians of all levels in Atlanta, Georgia. The target musician will range from amateur first-time recorders to established professional musicians. They will also target businesses that may need commercial production for their marketing and local authors that may need an audio book compiled and produced.
Benjamin will be in charge of client intake and retention, customer service, pricing for services, equipment maintenance, and networking. As an avid social media user, Benjamin will also manage all of the recording studio’s social media accounts. Benjamin will employ two to three sound engineers to apprentice under him and assist with sound production services. He will also employ a receptionist/administrative assistant to manage client needs, client files, and various administrative tasks. Lastly, Benjamin will employ an accountant to manage the books, accounts receivable and payable, cash flow, budgeting, tax obligations, and permitting/licensing.
Benji’s Beats Recording Studio will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly qualified team of sound mixing professionals and engineers to produce high-quality sound content for each client.
- Best rates in the market – Benji’s Beats Recording Studio will work with clients of all backgrounds and income levels to put together a payment scenario that is suitable for everyone.
- State-of-the-art sound production equipment. Benji’s Beats Recording Studio will be the most modern and high-tech recording studio in the area.
Benji’s Beats Recording Studio is seeking $400,000 in debt financing to begin operations of the business. The funding will be dedicated towards securing the recording studio, studio equipment, and recording studio build-out. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and working capital. The breakout of the funding is below:
- Securing recording studio space, build-out, and design: $150,000
- Three months of overhead expenses (payroll, rent, utilities): $75,000
- Marketing & advertising: $25,000
- Licensing & technology: $50,000
- Recording studio equipment: $100,000
The following graph below outlines the pro forma financial projections for Benji’s Beats Recording Studio.