*3 min read
Who said earning extra revenue for your business had to be all about hard work and extravagant marketing campaigns?
Sometimes the best thing we have is what’s already there – and chances are that you’ve already got what you need to earn a little side cash for your biz. In fact, your business is a world of opportunity that’s just waiting to boost your profits while helping others at the same time. Under-utilised and neglected space could become a freelancer’s dream office and a piece of equipment could be just the tools a craftsman to create their next masterpiece.
At Altspc we’re all about helping businesses reach their ultimate potential, and we want to be able do that across all industries, no matter how niche. So if you’re looking to earn some extra revenue for your business – and who isn’t – read on for 5 ways to utilise your space’s full potential, make some money, and do some cool things while you’re at it.
1. Unused space
Rent is a sizeable expense for any business, so if you have any unused space then it’s a quick road to the land of extra revenue for you! There are tonnes of people and organisations out there looking for all kinds of spaces to rent for flexible use, from offices and warehouse storage to kitchens, cafes, studios, meeting rooms, and more. The reality is, a lot of people can’t afford to permanently rent out their own space, so why not lease from someone who is already established? Listing your unused business space for flexible hire is a great way to boost your revenue while also giving people the space to do the things they love.
It doesn’t have to be a grand space. Sometimes a little space is all someone needs, and that could be enough to cover your rent for a couple of days. Don’t be discouraged by the confines of your industry, either. Who’s to say that an unused doctor’s office can’t make a peaceful meditation space or the perfect spot for a start-up to set up shop? Whether it’s a spare room, studio, garage, restaurant space, shop space, or outdoor area, here are some ways your unused space could be transformed…
Spare rooms/Wasted corners
Office spaces for startups/entrepreneurs/small businesses, creative studios, beauty therapy/massage spaces, psychologist offices, natural therapy/meditation spaces, lecture/discussion spaces, meeting/workshop spaces.
Workshops, artists’ studios, mechanic workshops, tattoo studios, music/jamming spaces, pop-up shops, gallery spaces, photography studios, yoga spaces, performance spaces, packing/distributing spaces.
Pretty obvious – workspaces for chefs, caterers, bakers, pastry artists, and cake decorators. Yum!
Market spaces, sculpture studios, event spaces, workshop spaces, performance spaces, community garden spaces.
2. Got an extra desk?
We’ve seen a lot of extra desks in our time. Usually piled with random computer parts and paperwork, the extra desks are left abandoned until the occasional intern comes along. Did you know that lonely old desk could potentially be boosting your business income? If you’ve got an extra unused desk or two at your business, consider listing it as a desk for freelancers, entrepreneurs, and anyone else who needs a desk from time to time. You’ll not only get to earn some extra revenue and meet some rad people, but listing a hotdesk could also be great exposure for your business.
If you don’t have an extra desk, it might be worthwhile to see if you have enough space to get one. Consider your floorplan and current layout, and see if changing things around might free up enough space for a desk. It’s not just about the money making, but the potential for meeting (and networking with!) cool, like-minded people who could make your workspace a more exciting and inspiring place to be in. It’s a pretty small investment for an experience that’s worth it, we reckon.
3. After hours
So maybe you haven’t got any extra desks or the space to get one, but is your business space in use at all times? Here at Altspc we’ve done the maths, and we’ve found that the average business utilises its space for only 72 hours per week… that’s 47% of your space being used week on week! Which means that for the other 96 hours, your valuable business space is being left unused. So sad, we know!
If your business space is only being utilised for certain parts of the day or week, you can rent it out for use during other times. Whether you’re a small shop, a cafe, an office, or a studio, there are plenty of people out there in search of all kinds of alternative spaces. Your business could be the perfect spot for a group of tech geeks to launch their startup or a budding restaurateur to cook up a storm. Even an unused garage could be the next big band’s practice spot – the potential for your business space is there. Plus, who knows, you might suddenly have a cool after-work knitting group or jewellery making class to enjoy.
4. Handy tools and equipment
Got any specialised equipment, handy tools, or fancy machines that other people might care to use from time to time? From building tools and sewing machines to printing presses, kilns, and lighting equipment, there’s plenty of demand out there for expensive and specialised tools.
If you have any handy pieces of equipment that could be put to use by a budding artist, furniture maker, photographer, or anyone in need, leasing it out for use is the best way to earn some side cash while feeling like you’re doing something good at the same time. You’ll also get to enjoy the company of a like-minded person sharing the same passion for a craft you based your whole business around!
5. Garage sale
It’s the uncomfortable truth, but so many business places out there look more like storage units than workspaces… If you haven’t cleared out the old office in a while, it might be time to have a look through and see what you can get rid of. From spare computer parts to unused furniture, equipment, and old stock, there might be plenty of stuff lying around in your business space that you could sell in a garage sale.
Any unused materials and little bits and bobs that you’re not quite sure what to do with can be given to a place like Reverse Garbage, where they can be turned into inspiration for someone else. You could also try selling niche items on Gumtree and eBay, and see if you can turn in a little extra cash that way… And who knows, after a little clearout you might find that you have enough space for an Altspcer to use after all!
Getting a little excited at the thought of boosting revenue while also meeting people doing cool things? We’re excited to see it happen. List your desks, unused spaces, and after hours access on Altspc and be connected with people who are searching for exactly what you’ve got. You’ll not only be meeting awesome people and making some sweet cash, but you’ll get some nice exposure for your business at the same time. How’s that for a deal? It’s time to banish lonely extra desks and sad unused spaces for good!
Loving the sound of this…
Altspc is an online space sharing platform that lives to help sole traders, micro & small businesses kick-arse and grow sustainably. Discover the lease-free way to rent out or book unused space by the hour, day, week or month.
If you’re looking for affordable and flexible business space, try our FREE Space Finder Service – we’ll send you a customised shortlist of spaces, zero obligations!
Interested in learning how much money you could be making from your unused space? Check out our Free Calculator.