Training room rental advice/ rates ?

[mjs]

I will shortly be taking on a three room premises on the second floor for my waxing and spray tanning business. It is a minutes walk from our main line station and very central. I will only be using the main room and reception room and will have a spare room that can be locked and is accessible without coming into my reception. It could be decorated and furnished with 2 portable couches, a foldaway manicure table. It also has a sink. Toilet is shared with the first floor which hopefully will be let to a hairdresser as it was before. I would like to rent this room out for training on a weekly or daily basis. My question is firstly do I have to inform my insurance company that it is for training use and secondly anyone have any idea how much I would charge?? It could be used for one to one or up to 4, the room is approx 12ft by at least 14ft. Thanks