24A

My Business Venture

My business venture would be, as discussed many times in the past, a cheap way to produce high-quality music. As with any business venture, there needs to be an opportunity for it in the first place. 

Opportunity

I believe I have identified an opportunity in the music industry working with local indie artists. All throughout Gainesville, indie artists lurk. They want to create. Gainesville is a huge hotspot for art, creativity, music, and much more. With this lies a massive issue. The bottom line is that this demographic has very little money. Especially with COVID-19 in circulation and nearly all young people out of work. Most indie musicians are lucky to even have had gigs before COVID-19. Whole albums can go with less than 100$ in profit being made. Not only that, but studio time is extremely costly. On the cheaper side of things, studio time can cost anywhere between fifty and seventy dollars per hour. This is hourly, keep in mind. A professional sounding song can take hundreds of hours to complete. This very rapidly adds up. In this scenario, my “opportunity”, or unmet need, is an inexpensive method of audio production. This opportunity arises as young musicians strive to create and record music, but can not afford the insane costs. While many people use this as an opportunity to learn production on their own, or resort to friends to produce, many are unable to access either alternatives.

Innovation

It undoubtedly will take a lot to be able to provide a service so labor-intensive for so cheap. This is why my innovation will have to be short-term. I plan to sell my skills as a music producer, for a wildly inexpensive price. For some songs, a flat rate of fifty dollars would be the price. In addition, for more extensive projects, I would charge fifteen dollars per hour. For these prices, musicians are provided with recording, mixing, mastering, and other production services. The hope for this is that eventually, I can gain a reputation and a catalog of music. As I gain more valuable and sustainable resources, I will be able to grow my business and charge an appropriate amount for this service. Until then, it is essential that I do my very best to produce high-quality music capable of grabbing people’s attention. 

Venture Concept

I am a music producer. I have been doing it, without knowing I’ve been doing it, since I was old enough to know how to use a computer. Alas, I can serve as the solution to the problem, or “opportunity”, defined above. My experience and finely tuned ear for music production provides me with a somewhat valuable resource for my business venture. My main competitors when it comes to this would be actual production studios. This is where price comes into play. Since no one in their right mind would charge so little to complete a task with such an unreal amount of work, this is my price advantage. Being the only employee, I am able to keep the entire short stack. More importantly, this gives me experience, rapport, and a catalog to build off of in order to advance my business into something actually lucrative.

1. I believe that what makes this venture truly unique is my personal experience as well as price point. For such an unbelievably low price, it’s a good deal. The client is able to work with an experienced music producer, knowledgable on the topic of sounds, synths, frequencies, etc. for a price point incomparable to any other studio. 
2. In the future, I would like this studio to grow to a point that I can afford a true studio space. In the more near future, I’d like to see myself mixing for higher-profile clients, charging higher prices, and even designing plugin patches. Plugin patches are a good way to bring the professional sound to a home studio. This would consist of a string of pre-programmed effects, so that the producer can simply drag and drop the patches into their audio tracks and experience an instant and dramatic increase in audio quality.
3. Ultimately, I would love to be able have a whole professional studio setup. This would include a sound treated space to record, high-end microphones and equipment, top-of-the-line sound systems, and real instruments. At this point, I can justify charging prices that are congruent with those of other recording studios. This is when I could quit any second job I have and make producing music my main job. This may end up a bit more than five years away, and it may never happen. Ideally speaking, however, this is where I would love to see this venture in the future.