studio successful or not successful because of my leadership, or is it because of the previous owner?”
The greatest pro to starting your own studio as opposed to buying an established business is the complete control and satisfaction of creating something new and watching it grow and change. It is your own, something you created, your vision, your dream. There is no preconceived notion either positive or negative by the public, and you create the type of image you want. The sense of achievement is much greater when success is reached than when you buy an established studio. There are no clients that have prepaid work you must honor, no unpaid vendors, and no disgruntled clients.
The cost difference between starting your own business and buying an established one will not be that different. The average costs for starting your own studio would be in the range of $20,000 to $70,000 depending on the area and type of studio. Buying an established studio could cost anywhere from $20,000 up to $120,000 for a high-end studio in a great location with an established clientele and at least five years in operation. These figures do not reflect the purchase of land or a building, only leasing options.
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