Get copies of CDs recorded at any place you're interested in and take them home. Listen to them on different stereos, and compare them to your favorite albums. Get a sense of the audio quality and mixing style. Listen to them at low volumes and high volumes.
Talk to bands that have recorded there previously. Talk to the studio operator/engineer about their recording techniques, process, role, rules, etc. It's important to get a sense of what dynamic you will be dealing with. Some people like a hands-off style, others want an engineer to tell them what to do. Get the right fit.
It's easy to try and save money and end up screwing yourself. No one wants to listen to 10 songs recorded badly. Try recording a couple songs at a much nicer studio, where the quality will at least put you on the same playing field as everyone else. If people love those 1 or 2 songs, future albums could follow.