Recording Studio Equipment Financing (USA)

Recording Studio Equipment Financing (USA)

For many studio engineers as well as musicians, financing equipment can be a recurrent source of worry. Recording studio equipment does not come cheap and without it, well, the studio is basically useless. Let’s look at several ways recording studio equipment financing can be gotten. Let’s see more on Recording Studio Equipment Financing.

Credit Card Financing

The process of getting loans from banks is typically arduous, and sometimes, despite doing everything right, the loan may still not be granted. However, when you pay for equipment with a credit card, it is easier and you don’t have to particularly offer a reason for the spending/consumer debt. The downside to using a credit card to finance your record studio equipment is high interest rate. In addition, your credit score could be adversely affected and if it wasn’t good in the beginning, it could get even worse. Although financing equipment with a credit card is common, it comes with heavy requirements of making constant payments to offset the consumer debt.

Conventional Business Plan

If you intend to make huge purchases, a credit card may not cover the cost. For instance, if you want to buy a building, Install recording equipment and sound proof the studio, the kind of financing you will need may be from six figures and above. This is where the business plan comes in. Within the plan would be a list of products or services you will offer, your projected revenue for not five years or more, your marketing strategy, your promotion plan and so on. Once the plan is completed and your business is registered under the appropriate authorities, start looking into potential avenues of capital. Such avenues include grants, bank loans, venture capital and angel investors. You can also try crowdfunding if your supporters are numerous enough or if you have a dedicated fan base.

Financing Companies

As a studio engineer, producer or musician, owning recording equipment comes with obvious advantages. Apart from the ease of access to equipment, there is also the boost of confidence that comes with having quality sound for your audio projects. However, audio recording equipment can be considerably expensive to purchase. To help ease the cost, there are multiple companies across the country that offer leasing and financing of studio equipment. Leasing recording equipment from these companies reduce the strain on your budget while offering the high quality sound machinery you need in your studio.

Here are some additional advantages of using a financing/leasing company for your recording equipment:

• You gain access to multiple recording equipment bundles that would cost more if you were buying directly rather than making monthly lease payments.
• You can manage your budget better and save money to use on other things such as marketing, promotion, studio assistance and project miscellaneous.
• While filing your taxes, you can write off all lease payments to reduce your taxable income, those lowering the overall cost of ownership.
• Depending on the financing company you choose, you get flexible payment schedules and more funds to grow your recording business.
• You get to generally improve your financial revenue because your expenses are less weighed down by leases than they would be by owned recording equipment.

Basically, using a financing company and the payment plans the offer is one of the most reliable ways to set up or upgrade your recording space/ studio regardless of your budget.

How Recording Studio Equipment Financing Works

To get financing, you pay for whatever equipment you order for a period of 6, 12 or 36 months.

Or you can request for a quote from the company, secure approval, sign documentation and have the equipment delivered to your studio.