Work on your recording space. Make it a comfortable and attractive space for your clients to feel at ease in and a place that artists will want to return to. Add a rug or two, some comfortable furniture and a little mood lighting to create an inspiring and creative vibe.
Decide upon a business name for your studio. Make things official by filing a DBA (Doing Business As) with the county clerk, which will enable you to conduct your business through a bank. As well as giving your studio business an air of legitimacy, it will also help you keep better financial records, which will help you when it comes to filing your taxes.
Design an eye-catching logo for your studio. If you don't have the necessary skills, pay for the services of a graphic designer, so that you get a professional-looking logo to represent your business. Have this logo and contact information printed on business cards and give them out at every opportunity. Business cards are inexpensive to order and can be created quickly and easily online.
Go out and see the leading live acts in your area. Introduce yourself and ask them about any recording plans they may have. Pick two or three of these acts and let them know that you're willing to let them record a 4-song EP at your studio for free. Be sure that they intend pressing and releasing it as a CD. Your production and/or engineering credit on the CD insert will help your portfolio and hopefully generate some positive word-of-mouth advertising. This is less liable to happen if they simply use the EP as a demo to land gigs.
Put together a simple website that showcases your facility and the equipment you have for potential clients to use. Add several sound samples of the work you've recorded at your studio, and make sure that your business logo, address and contact information is prominently displayed. Contact artists you've worked with and request testimonials for your site, and exchange links with them so that your studio will be featured on their site. Try to keep the website updated with news of current clients and any new equipment you acquire. This will help your studio appear to be a vibrant place of business.
Advertise your services in the classified section of local music publications, and ask local online magazines for a feature article on your studio. Many online sites offer free advertising and often have interactive message boards associated with them, so be sure to post messages and join in the conversations there, too. These networking opportunities can only help you establish a presence on your local music scene.