Quote:
Originally Posted by Lynn Fuston
Wow, Mr. Jaded-no. I'm glad I don't work at the places where you work.
Lynn, and George-
First, thanks for specifying exactly what the studio IS and IS NOT. If I were looking to buy a studio, I'd be fighting to get a foot in the door (and I'd also get my lawyer and accountant involved for due diligence) and put in a bid.
And so that no one else thinks that I have either suffered all this crap myself, my post was not only MY last 16 years of experience in this business after finishing grad school and arriving in NYC thinking I knew everything , but fortunately, my post actually represents those sad experiences of everyone I know who has been a) unfortunate, b) had poor business judgement, c) ran headlong into a brick wall without enough backing or financial support, d) let themselves get taken advantage of by a co-worker, friend, or e) trusted the WRONG person.
I have tried to learn not only from MY mistakes but also from others. If I had suffered the slings and arrows I describe all myself, my personal studio would have beeen liquidated a decade ago and I'd be dreaming about Germaniums, Tridents, vintage Neumanns and new Porticos instead of looking at them above a sea of track sheets, deal memos and notes.
People are on this board for advice and opinions, which can be good and bad since sadly everyone has one, just like everybody's lower orifice. Sometimes I want to be the voice of reason, sometimes I'm the gearslut urging people to "BUY BOTH!", but when someone asks "should I plop down almost a million bucks" I urge caution, and to think thru the deal.
I'm sure that both George and Lynn EXPECT, not only want, a good buyer who understands the business and could grow or maintain it with aplomb, and not let it run into the ground or make those easy mistakes I have seen with HOW many start-up studios in NYC, LA, Miami, Toronto, Tampa, Orlando, Atlanta, Chicago, Boston, Philly (I never got a gig yet in the American Northwest, sorry!) but as a client who books studios around the country, I've seen some DOOZIES! I hope your buyer is not a first time studio owner, but a decent, knowledgeable, up & coming/moving from the city talent who manages to be HONEST and GOOD at what they do. The biz is hard enough as it is without another scumbag ruining the few nice, high-end places left to work. Can you tell I mourn almost a dozen dead and gone studios in NYC? Great places to work...just history. A shame!
Anyway...I hope that NONE of us experience everything I wrote (even SOME of it is bad enough, but the parts I went thru -those make me laugh, NOW!) and I hope you do not take anything I wrote personally as obviously, it was written as a point of caution before either of you had an opportunity to outline said studio's position, history, or facts, let along your personal stakes in the venture.
Much respect to both of you and best wishes,
Jim "Mr. Jaded" vanBergen
PS: never been the intern, but I'm still irritated by experience of finding the pile of speed on the coffee table. No class at all!