In country music, for example, songs are usually written in advance of the production stage. Demo recordings will have been made by the writers, often very professional recordings, so that the producers can hear how the song should work.
The evolution of the internet and widespread piracy through downloads has completely changed the scope of the recording industry and the music production studio. Traditionally, recording studios were only available to signed recording artists. Record companies owned and controlled all the recording studios.
The largest facilities for Spinnin' Records Demo Drop studios are the ones that cater to recording soundtracks for major motion picture films. These studios are massive and can record live full orchestras. There are not many of them, but the ones that do exist have annual revenues in the millions of dollars.
Even as independent studios became a force in the music industry during the 60's and 70's, they were generally too expensive for the unsigned artist. It can be a lot easier to get a good sound with software instruments that are available inside your music production software. Also, since it’s fairly easy for people to make screen-capture videos showing how to use the instruments you can find a lot of good information for free on youtube. You can also find some fairly inexpensive courses of instruction on udemy too.
Offering both live and in-studio services increases contact with potential clients, which helps to grow a successful recording studio business. For animation voice-overs, the clients are television and film production houses. For translation dubs, the client is any commercial enterprise with videos online that wants to expand marketing efforts to include foreign languages. This is an excellent niche for a freelance worker with a home recording studio because jobs are readily available and posted on freelance systems online. As a music producer, one of the potential drawbacks you’ll have to deal with is people with big egos.
People who love music and like to be around music typically gravitate to this business. It helps to have computer skills and to enjoy working with music recording software and electronic equipment. A sideline business for a recording studio is to provide sound reinforcement rental systems, such as amps, speakers, microphones with stands, and a mixing board for live performances.