I need some advice......

I'm trying to decide whether or not to rent a studio space. So, here's the abbreviated version of my current situation:

I shot for a local photographer for the past 4.5 years. She has a portion of her home set up with offices, studio area and a client meeting area. Wonderful set up really and it is working very well for her(and me). I'm the first and only other photographer she has ever worked with, and I shot exclusively for her during those years. In the past two years, more people have been requesting me and she really doesn't like that. It ends up that I shoot more weddings than her, and she feels since it is her business she should shoot more. Perfectly understandable, but not alot I can do about brides asking for me specificly. So, I learned (around January) that she has been telling brides that I am unavailable when they call. We sat down, had a talk and I decided that I should just go it on my own. No hard feelings, I've shot about 20 weddings for her/with her so far this year. (Those that were booked last year). My last contract with her is in September.

Now, to the dilemna....my house that I just remodeled is about 15 minutes outside of town. No way am I moving into town. The land and house are 100% paid for and I love it out there.

Property value has skyrocketed in the last few years, and retail space is limited. So, in looking around the best options I have found have been between $800-$1,200.00 a month. Not that that is too much money, it's more a question of whether or not it's money well spent. I only need the space for the occasional shoot and meeting with brides. I have an office at my house and an office at the company that I own. So, not only would I need to pay rent, I'd have to find someone that could answer the phone for me. To pay for all of this, I would probably try to shoot more. I'm not overly concerned about coming up with the money, it's just trying to decide whether or not I have the time to invest in this right now.

After all of that here is the question......

Should I rent a space and start actively marketing myself?
If you vote not to rent a space, how do I overcome needing a studio occasionally and needing somewhere to meet with people?

Thanks for reading all of this, and I look forward to your advice.

Does anyone else live with you? How much space do you have in your house?

I'd be hesitant to spend that kind of money on space unless I was going to use it 5 days a week, as my full time office/meeting space/studio. Otherwise, what are your other options? Is there any way you can set up a meeting room for clients in house? You don't really *need* a studio unless you really want to get into studio type work. What about building on your land? Honestly that's what I would look into. A few months back there was a good article in rangefinder about a guy that did that. "Build it and they will come" was the title of the article I beleive. Anyway, he basically made studio behind his house complete with office spaces, etc, and it would work as a guest house also if he ever decides to sell... which increases the value of the home. It might involve a bit more leg work but I bet in the long run its your best bet financially.

Well, the problem is that my house is outside of town. There are two major markets in our area, Bentonville and Fayetteville. I live about 15 minutes from Fayetteville, which puts me 45 minutes from Bentonville. I need to be available to both markets to be successful, and I know that people around here won't drive that far.

Had I known that I was going to split with the other photog, I would have looked for a house in Fayetteville.Ultimately, I would love to have a studio on my property. However, that just won't work where I am now.