lighting course

You can go on a course, there are plenty around, but it won't make you a photographer. Mind you, you don't need to know much if you're just running a hire studio, most hire studios provide very little instruction - just very basic stuff - and most know even less than they teach.

£3K will be fine for lighting, but of course there are other costs too - decoration, computer/software, marketing...

And you'll probably struggle to get more than £20 per hour. In my experience very few hire studios actually get enough bookings to survive, and those that do have other sources of income as well.
 
Ram,

Have a look at Garry's video teaching aids (link in sig). I've just been having a look and they do rather useful. Think I will have to go for the full set of videos with PDFs after i've got the lights next month.
 
I went on a Flash centre portrait course last year in Swindon. I rate it very highly. Have a look at what they do, http://www.theflashcentre.com/training-courses-c18.html

If you're setting up a studio you will need at least £8k.

Assuming building already has facilities (toilets/changing etc)

Lights are the biggest cost, plus lighting accessories, backdrops etc. If it has to cater for larger group shots it may cost more, and you will need a lot of SPACE! You need insurance. Who is going to staff it?
 
My advice would be to get some training first, you'll then be in a better positon to judge what you need in the way of equipment.

But wearing my Lencarta hat, I would say that your budget is going to be OK. Basically, the people who are likely to be interested in hiring a small studio won't be looking for specialised tools such as spotlights, so you'll be looking for maybe 4-5 300 Ws flash heads with various umbrellas, honeycombs and softboxes, plus backgrounds, reflectors, a flash meter and various small accessories
 
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