Jam

My idea is to start up a low-end music studio on Franklin Street. The studio would function as an open jam center where anybody can jump in as long as there are instrument slots available. The employees will also be musicians and they can fill up open slots . That way we can guarantee a band setting even if enough people have not arrived.

The local would also sell alcohol and tobacco, as musicians are big consumers of these. It would also attract non-musicians to the venue that might want to have a beer and enjoy live music.

Music lessons will be available during slower times. This would provide another revenue stream and more possible customers in the future

Competition: There are other studios but none of them of convenient location for students. Also most of them are focused around professional recording

Financials: ~60K Rent
80K Labor (1 manager, 1 fulltime emp)
10K Utilities
20K Insurance and other costs
30K Start up equipment

Charging $8 per 30min use and averaging 3 slots per session Including (3 hrs of dead time) = 210K in Revenue

I have not calculated Alcohol/Tobacco, lessons and recording sales revenues yet