Vancouver is in need of additional professional resources for musicians - rehearsal spaces and venues. Please help us build them.
Today our music rehearsal studio complex is a small monthly lock out located off of Commercial Drive in Vancouver. We’re putting together an awareness campaign and a fundraising effort to try and spread the word that we’re opening a new, MUCH LARGER studio soon. We want to establish quality rehearsal spaces for music rehearsal because we are tired of jamming in moldy warehouses and having our gear stolen.
Most rehearsal space suppliers in Vancouver either open up low quality monthly lock out rooms or high quality (though very expensive) hourly rooms. They do this because it costs quite a bit of money to put together a top notch room - and if they're going to all the trouble of doing that, they feel justified to charge what they charge.
We think differently. When we opened, we built high quality studio rooms that we could have rented out hourly, but decided to rent them out monthly instead. It started with just our band in our room, then we built out additional rooms over time. As musicians ourselves we understand the need for other musicians in Vancouver - and want to share what we have with everyone we can.
Our first goal is to open a new rehearsal space - very soon. Size will be dependent on how much money we can raise - but, to be clear, we've been working on this for quite a few years and have come a long way. We have a group of investors that are interested in helping make our dream a reality - but the more money we can raise ourselves, the more control over the facility we'll have. And ultimately that's what has made our studio today a success - running a studio like we'd like to rent if we were looking to rent one.
We've found the right building, drawn up blue prints, had them approved by the city, met with investors and had great success getting people interested in what we're doing. But we're at a cross roads... If we can't raise money and interest in the facility we're planning on putting together, we may not be able to make it happen. We need your help to make this a reality. Help put Vancouver's music scene in the spotlight and get musicians out of unsafe, moldy and expensive rehearsal spots and into professionally run, clean, sound proof studios that will give them what they need to create their art.
We need the support of the musical community in and around Van to make this a reality. The campaign will last 60 days and our target goal is $50,000. Obviously that’s not near enough to pay for what we’re trying to do but it will go a long way - and more importantly it will prove to our investors that the demand is there and that the community wants it. Once we reach our goal we'll have raised enough capital to engage with a private investor group. We will only accept funding should we reach our tipping point ($50,000), so that you can rest assured that your donations are only going to be used if this is actually happening.
Any funds raised in excess of $50,000 make this really interesting as they contribute to our total contribution to the project and therefore reduce the amount of control we need to give to any outside investors - meaning that we can operate the company in a fashion more in line with the way we'd like to do business as musicians rather than worrying 100% about bottom line profit. So to sum it up - the more money we raise, the cheaper these jam rooms become. If that's not incentive to help out I don't know what is!
This project has a total capital investment requirement of $755,700. Start-up costs will cover a number of details to convert the structure to suit our concept functionally. Included in start-up costs are all necessary expenditures to cover the cost of all renovation/permit costs ($661,100, or 87% of required startup funds), equipment acquisition (2% - $15,000), front and back end functional website and database development ($50,000 or 7%) as well as operating costs for six months of operations ($26,600 or 4%) which is more than the estimated time to purchase permits, acquire all necessary paperwork and complete the majority of the construction.