Take notes so you can compare them later when you do your research. Establish a couple of criteria (like price, location, engineer, equipment, acoustics, sound, space, even your instincts). Notes are the best way to keep the track of what you found out, especially if there are a lot studios around. Don't count on your memory, because you want to judge rationally, not struggling to remember.
The days of a simple voice and guitar demo are long gone. Phil Ramone said it the best in an interview with Howard Massey: “The quality of a demo is so important these days- you can’t go anywhere with a piano/voice or a guitar/voice demo. You can’t do that anymore!"
The music business model has changed a lot over the last three decades. The way music is marketed and distributed has changed dramatically. How to promote yourself and your music has changed too. If you aspire to be signed by the major labels, you need to get to them somehow, or generate major buzz. I don’t think there are too many A&R people today that can envision, by themselves, how a song can be with a proper arrangement. And even if they can, they do not want to assume responsibilities that can cost them their job! They expect a product that, if it’s not ready for distribution, is very close to it. You may have a music business lawyer who has connections; do you really think he will give your demo to his connections if it doesn't sound right? Better think again.
If your target is to promote and sell your music and build your own brand (through sales, advertising, gigs, radio/TV) without getting signed with majors, the good news is that this is very possible today. Many musicians are doing it and internet plays a major role. I cannot stress this enough: the internet plays a major role in the promotion of your brand! Your music must sound right in all the popular formats promoted on the internet. That poses challenges from a mastering point of view and it’s up to you to make sure the studio you select knows all about it.
Once you have a list of a couples of studios, arrange some appointments, head out and check the studios to get a direct feel and impression of what’s being offered… You can look for a studio close to your place, or you can choose a recording studio away from your place, a recording studio retreat. This is an interesting situation, as you get away from your daily routine and worries, you can focus better on your project, and you can have a good time into an inspiring environment. Do you know how many famous albums were created in remote studios? Just check Montserrat studio on internet, and there are so many others...
In the first case, for a recording studio close to your place, try to find a studio not too far from your place - driving 50 kilometres every day before recording doesn’t help your performance, and adds to your bottom line. Many times, you have to come back for a re-mix or some post- production. Try looking also at studios outside the downtown areas, parking is not cheap… Make appointments with a couple of studios that fit your budget criteria, and go and look.
The second case is quite different: a recording studio retreat offers you very different experience. You can have a good time; a great area is inspiring and stimulates creativity and excitement, especially if the studio is located in a beautiful area. One interesting advantage being away is that it will help you relax, being away from the day-by-day obligations, you can have a better focus, more creativity, especially if your recording lasts for a couple of good days. You will also have a great time, feeling like being in a vacation with a twist!
Many illustrious albums were cut in retreat recording studios like AIR Montserrat studio (I had the pleasure of knowing the great Steve Orchard in Antigua where he moved after the volcano eruption that destroyed the studio, a great human being who told me many stories about the studio and it's clients), Muscle Shoals Studio, The Saltmine Studio Oasis, Blackbird, etc. There are studios offering that - Fandango Recording included - and you may want to give them a hard look.
Do you like what you see and hear? Does the studio have a pleasant and creative environment? This is way more important than you think. Feeling comfortable and confident is extremely important. Stay away from studios in the kitchen, hallways or rooms with cables laid out all over- do not expect a clean audio path, without hum! Basically, if it looks half-assed, your product will probably sound like that too.
Check the acoustics for your style of music. If you’re into large orchestral sessions, a large studio is what you’re looking for. But for pop, rock, folk, jazz, R&B, hip hop, a smaller live room will be perfect. Get a feeling for both the recording and control rooms - a good acoustic design goes a long way toward producing an excellent final product.
Speaking of the recording space, think about the level of isolation you need if the act is a band. In some cases, microphone leakage is your friend (especially for jazz bands recording together); whereas in other cases isolation is required. For most projects like pop, rock, isolation is required, so check if the studio offers enough possibilities to achieve it (vocal booth, live rooms, space, etc).
Have some familiar CDs with you. Ask the engineer to play them and listen from the mixing position. Do you hear every detail clearly, along with every instrument position? Ask the engineer to let you sit in his chair and switch the monitors from stereo to mono, and in that moment the sound should move right in front of your nose, like you can touch it. If it doesn't, the room has bad acoustics and there is no way to get a good mix! The studio acoustics and the room response are extremely important for mixing and mastering! DO NOT LISTEN TO ANYTHING LOUD! Volume masks imperfections. Everything should be audible at a reasonable level.
It is a bonus if the studio has more than one pair of monitors, so the engineer can switch instantly to check the mixes. Aside from the main monitors, the other monitors should help give you an idea how a mix or master translates to the real world. A pair of small Auratones can give you a pretty good idea on how a song will sound on TV sets (they generally drop gradually at 200Hz and dip at 100 Hz or 14 KHz). Some computer speakers, a set of audiophile monitors and a boombox would help when making decisions.