If you are planning on opening a music recording studio, then the first consideration should on the cost of setting up a Recording Studio in Nigeria.
The best point to start your cost analysis and budget is to start by knowing the prices of Recording Studio equipment in Nigeria.
After knowing the prices of music studio equipment, then next is to make up your mind whether to buy them in Nigeria or to import.
Equipment Needed for Music Recording Studio
Before we dive into knowing the cost of setting up a Recording Studio in Nigeria, let’s, first of all, find out the equipment needed for setting up a recording studio.
What equipment do I need for a recording studio? To start a mini or professional recording studio, you will need all or some of the following equipment;
- A Computer
- Studio Monitors
- Microphones (A Condenser and a Dynamic mic)
- Midi controllers
- Audio Interface/DAW
- Mic Stand
- Pop Filters
- Ear Trainer
How Much Does it Cost to Setup a Recording Studio?
The cost of setting up a music recording studio in Nigeria depends on the standard of the studio. As such, the cost of starting a recording studio is categorized as follows;
Professional Studio: a high-class Professional Studio is mostly patronized by high-class musicians and it is very expensive to set up.
Setting up a Professional music recording studio in Nigeria will cost between Three Million Naira (N3,000,000) to Fifteen Million Naira (N15,000,000) depending on budget.
Semi-Professional Studio: Just as the name is, a Semi-Professional Studio has a standard that is below that of a professional studio but better than a mini home studio.
Semi-Professional Studios can attract both high-class musicians and upcoming musicians. One of the most interesting facts about this kind of studio is that it combines part of the professional studio and part of the mini home studio.
Setting up a Semi-Professional Studio in Nigeria will cost between Five Hundred Thousand Naira (N500,000) to 1.5 Million Naira and it is the most patronized category of studios in Nigeria.
Mini/Home Studio: this kind of studio may be a Bedroom Studio or any kind of mini studio set up within the home.
This kind of studio is less expensive and to some extent has a low standard which may not attract high-class musicians. It is mostly used for training.
Setting up a Mini/Home Studio in Nigeria will cost between of Two Hundred Thousand Naira (N200,000) to Five Hundred Thousand Naira (N500,000).
Recording Studio Equipment Price list in Nigeria
Now, let’s take a look at the necessary recording studio equipment list prices in Nigeria. The following are the studio equipment and prices in Nigeria.
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|Equipment/Tool||Price in Nigeria Naira|
|A Computer (Desktop)||N30,000 to N150,000|
|Studio Monitors||N80,000 to N500,000|
|Microphones (A Condenser and a Dynamic mic)||N25,000 to N150,000|
|Headphones||N6,000 to N70,000|
|Midi controllers||N20,000 to N150,000|
|Audio Interface/DAW||N35,000 to N200,000|
|Studio Speaker||N80,000 to N500,000|
|Cables||N2,000 to N15,000|
|Mic Stand||N2,000 to N25,000|
|Pop Filters||N3,000 to 105,000|
|Studio Sound Card||N27,000 to N75,000|
|Home recording studio kit||N35,000 to N350,000|
Profit in Recording Studio 2021
The most interesting part of any business is the profit in the business. Before you start up a recording studio, it is advisable to know if it is worth starting or not.
Is owning a Recording Studio Profitable? There’s is no direct answer to this question. The profit in setting up a recording studio depends on many factors.
How to calculate profit in the recording studio business: Studio owners make money from, training and producing or recording music for their clients.
A studio session can cost as much as N50,000 to N500,000 in a Semi-Professional Studio while it may cost between N10,000 to N30,000 in a mini home studio.
Producing, recording, and mastering a single track in a professional or Semi-Professional Studio will cost between N50,000 to N500,000 and N10,000 to N30,000 in-home studio.
As such, a Professional or Semi-Professional Studio can make as much Two Million Naira (N2,000,000) to Five Million Naira (N5,000,000) while a mini/home studio can make at least N30,000 to N300,000) on monthly basis.
Note: you need a good number of musicians to patronize you and your music production skill must be professional enough to attract more customers before you can make so much money from your studio business.
Do you still any questions regarding the cost of setting up a Recording Studio in Nigeria? If you wish to ask further questions, then use the comment section below.