I am doing a project for school. I have to create a business plan for a new recording studio in Leeds, England. (I'm not sure how many people on this forum live in the UK or know much about the recording scene here.) I have a listing of equipment and prices from a friend that set up a studio in Miami, Florida that is similar to what I want the business plan to reflect. So if anybody could answer the following questions, it would be most helpful. 1. Are the numbers similar to those in the US, or would it be more accurate to convert with the exchange rate? 2. What would be a reasonable projection as far as paying off the studio before you start making money/financial projections for the first several years? 3. What are some risks involved with running a recording studio? 4. What kind of insurance does one purchase to cover the studio? 5. Is it standard for a studio to rent out a building for its use, or would it be better to purchase a place? Thanks so much.