As the record industry has suffered at the hands of online piracy, performers at relying on live performances more and more to generate revenue. This can be great news if you’re an entrepreneur or land developer. Building and operating a concert hall can be very lucrative, especially considering the current climate in the music business; however, there are a number of things to consider before staking your claim, including:
Location is Vital
As with any piece of real estate, location is often the key to success. If you plan to build a live music venue in an area that already has a number of venues, you may face stiff competition. On the other hand, if you construct your live music venue in an area that is sparsely populated, you might find that you aren’t able to get enough business or musicians to make the venture profitable. In order to find the sweet spot, do your research to see where concert venues are thriving, but also where concert venues are needed.
Follow Local Codes
Additionally, your concert venue will need to be built according to local codes. Keep in mind that different states, counties and towns have differing zoning laws and building codes, so ensure that you and your builder are in line with these. Failure to do so can lead to not only hefty fines, but also the need to completely rebuild affected areas of your concert venue.
Think About the Future
One of the most important parts of a concert venue is its drainage system or systems. Professionals, like those at HYDRO CONSTRUCTION PRODUCTS, know that proper drainage is essential to protecting not only your venue, but also its customers. Without the right drainage system, you may find that your venue’s foundation can become severely damaged, leading to expensive repair costs. In addition, poorly-designed drainage systems can leave standing water around the venue, leading to the possibility of slips, falls, injuries and lawsuits. Whether you’re building an indoor venue or an outdoor venue, it’s critical to ensure proper drainage.
If you’re expecting to attract major acts to your concert venue, you need to consider building with a larger crowd capacity in mind. Most acts that will attract a large crowd will not even consider playing a venue that can only hold a few hundred people. As a result, you will want to construct a venue that seats thousands if you want the big names. This isn’t to say that a smaller venue cannot be profitable, but once again, it’s all about what you expect to achieve.
Although concert venue construction may not be cheap, it can definitely pay off in the end. As mentioned, musical acts these days are relying more and more on touring than ever, giving you real potential for growth and potential. By thinking ahead and working with a qualified and experienced building professional, you’ll have the best chance at success.