Gabe,
Trying to get a studio off the ground is a major task at best. Are you making all (or most) of your income from photography or do you have a "day job"?

All I did was go down to Town Hall and fill out DBA paperwork (Doing Business As). I went to the bank and opened up a business checking account and also got a Visa machine. My studio is in my home, so there's tax deductions and I don't have to worry about making an added rent (or lease) payment. I'm about $12,000 in debt due to business expenses and refuse to take out a business loan (I'm thick headed..lol) I, mostly, work with kids and do some second shooting for weddings.

If you have lucrative commercial work coming in you might just need the commercial space though. Keep in mind there's tons of extra bills too. Insurance, Security, blah blah blah etc.

If I can help ya out in any way just give me a hollar.

Sandy