Sauder graduate, Tom Dobrzanski is a current example of great entrepreneur’s in the world. In 2009, the owner of Monarch Studios in Vancouver, realized that the rock bands whose music he was producing in his basement recording studio were getting bigger and would soon be ready to move on to higher-end operations. However, programs such as GarageBand and Audacity raise a problem for studios such as his. 21st century technology allows basic demos to be recorded at home, which made studios like Tom’s redundant.
Small bands had the ability to record in their own homes, seriously cutting into Mr. Dobrzanski’s original business. However, the economics in the music industry were forcing bigger bands out of the top studios in search of more affordable recording space.
The renovations cost $200,000 and Tom paid for them with savings from his existing business, as well as by securing a loan for equipment and a mortgage for the property. The significant capital investment was a one-time cost that will enable revenue streams for many years. This form of entrepreneurship shows how you can use skills like music and use your hobbies and apply it to a business to start a successful company.