Rented studio with live room and booths

Bands, solo artists, producers, advertising and video companies, podcasters and voice actors.

Hourly or day rates for room hire with an engineer, plus mixing and mastering fees. Extra income can come from renting the space to other engineers or from rehearsal time.

• Recording engineering
• Basic acoustics and studio build
• Booking and customer service
• Budgeting and marketing

• Soundproofing and fit-out costs can climb quickly, so get quotes from acoustic contractors before signing a lease
• Check municipal zoning, building permits and fire code for commercial use
• Commercial general liability and contents insurance, plus equipment cover
• Rent is a fixed cost, so test demand before committing to a long lease
• WCB/WSIB coverage rules apply once you hire staff, which vary by province

Startup costs are typically estimated at around $70,000 to $250,000, depending on the unit, soundproofing and equipment. Fit-out costs can climb quickly, so get quotes from acoustic contractors before signing a lease.

Monthly revenue is typically estimated at around $2,000 to $9,000, depending on hours booked and your mix of bands, voiceovers and podcasts. Rent is a fixed cost, so test demand before a long lease.

Check municipal zoning, building permits and fire code for commercial use. Also look at commercial general liability, contents and equipment insurance, and WCB/WSIB coverage rules if you hire staff, which vary by province.