commercialguy
Member
Are there any good guides online anywhere? I know I'm not there yet, but I can dream can't I. :cheesy:
What does it take to open your own office/studio?
- Thread starter commercialguy
- Start date
Sustainable workload. If you don't have enough clients of your own to justify it, then don't do it.
After that, consult a business attorney. It'll take things like insurance and incorporation... at the very least setting up as an LLC to protect you and your assets. Plus, you'll need a tax ID for the business as filing your own taxes as an individual won't suffice for having a business operation. That will also require setting up bank accounts for the business so that all the money flow is on the up-and-up.
After that, consult a business attorney. It'll take things like insurance and incorporation... at the very least setting up as an LLC to protect you and your assets. Plus, you'll need a tax ID for the business as filing your own taxes as an individual won't suffice for having a business operation. That will also require setting up bank accounts for the business so that all the money flow is on the up-and-up.
Hunter Hampton
Carbonite Member
Faith
Barry_Green
Moderator
Alex beat me to it. I was going to offer a four-word response:
"an existing customer base."
ZazaCast
Major Contributor
...and a LOT of long hours & hard work.
Andrius Simutis
Veteran
…and a lot of money doesn't hurt either.
To add - be prepared to give up all of your time...
David W. Jones
Veteran
How does the old saying go?
The best way to make a Million dollars with a studio, is to start with two million.
The best way to make a Million dollars with a studio, is to start with two million.
ZazaCast
Major Contributor
Classic...and SO true! :happy:
Scott F
Pug Life
All good advice as per usual......
I'm happy to be a worker in someone else's office/studio. But sometimes I wish I did have an office space of my own versus a home edit suite. OTOH, it is convenient when I get those client emails at 10:30.....
To the OP, I guess it couldn't hurt to look in your town/city for reasonable rents on a modest office space? (in a secure building, right?) There are deals to be had. See where it takes you. Not sure about a STUDIO, but maybe an edit bay to boost credibility with clients?
I'm happy to be a worker in someone else's office/studio. But sometimes I wish I did have an office space of my own versus a home edit suite. OTOH, it is convenient when I get those client emails at 10:30.....
To the OP, I guess it couldn't hurt to look in your town/city for reasonable rents on a modest office space? (in a secure building, right?) There are deals to be had. See where it takes you. Not sure about a STUDIO, but maybe an edit bay to boost credibility with clients?
I am a co-owner of an ad agency, we operate from a studio that was built to order but it's still in the back of my home, we harldy see clients at the studio, I have always dreamed of building a state of the art modern facility in a busy street but even though the revenue is there to do it, it's just pointless for us to do that, like a wise man once told me...
"take care of your needs, be careful with your wants"
"take care of your needs, be careful with your wants"
unclebob6958
Well-known member
There are plenty of "guidelines." But they worked for the person/people who wrote them; they probably won't work for you.
What it takes to start your own business is a knowledge of your local market, knowing how to exploit your niche, a comfortable amount of investment capital, very solid knowledge of your trade, good people skills and incredible amounts of long hours and sweat.
What it takes to start your own business is a knowledge of your local market, knowing how to exploit your niche, a comfortable amount of investment capital, very solid knowledge of your trade, good people skills and incredible amounts of long hours and sweat.