Hi,
I'm not exactly what you would call a "seasoned veteran" or anything, but this is what I know.
If you want to be seriously profitable... do commercials, voice overs, or the occasional big label, top 40 album.
I drive a fucking bus for a living. I record music the remaining hours of the week because I WANT to. I took out a loan, it pays for itself and then some. In the small market that I live in... it's me, a couple other guys, and the musicians themselves, that I "compete" with. I guess I make a profit... by definition.
If you ask me, it's all about "rebound business," and "repeate business." Repeate is easy. If you do a project with someone and they love it, they'll come back... everybody knows that. Rebound business is more complex. This is when someone records somewhere that has it all... everything seems perfect going in... but it just doesn't work out. I get this. I've gotten clients simply because they have gone to big, established studios, in my area, and have been totally turned off by their lack of vision and.... well, love of making an album.
I guess, for me, it's all about evolution. People that are willing to evolve... and people who are not. You just have to provide a service that there is a need for....
supply and demand...
I remember hearing about this in the 5th grade....
basic business.
Seamus