Hello Geeks,
I am opening up a 4 room therapy studio in a couple of weeks. My sister in law is a yoga instructor and will be renting the big room for 3 hours/week for yoga classes. I am planning on renting all of the rooms out to various different therapists.
I feel like I'm in an awkward position. Does anyone offer discount when renting rooms to family members?
I have looked up the other yoga studios to check what their prices are for room rental, and it obviously depends on size and location but the cheapest was £15/hr for day time and the most expensive was £24/hr for an evening 'slot'. My sister in law asked me about how much I was thinking of charging, and I said I hadn't finalised my decision, but it will be between £12-£15 for a 1 hr day time slot. Baring in mind that the studio is in the most affluent area of the city and is brand new with all of the necessary equipment included in the price. And her reply seemed a bit 'off'... I quote 'Hmm, £12 is ok, I pay £10/hr at 'x studio' and they are amazing at getting me clients' etc... Basically I got the vibe that she is expecting the room to be £10/hr because she keeps going on about this place and how good they are. Yes they are well established and busy, but physically, the studio is tiny, can fit 6 people at a squeeze, and the location is a bit awkward.
She also said to me 'you need to understand that the instructors won't be able to afford the rent for a few weeks until they build up clients', apparently she paid half price rent for a year at her current clinic to build up clients, which I think was overly generous of them! I feel like she is expecting me to foot all of the bills (literally) whilst she builds up her classes.
Now I'm panicking about everything. Am I expected to offer her a discount? Is it the norm to offer a discounted rent period, say 6 weeks, to allow therapists/ instructors to build clientel? And is it unnecessary to feel like I have to lower my room rental because it's a new studio and they will really need to work to build their clients, as opposed to walking into a busy studio? I wasn't panicking about any of this before but her reply has really bothered me. The studio can fit 10 people, which would mean £100+/hr for her, minus the rent, I will be doing alot of promo on social media etc for her too. I just feel like she doesn't understand how much I'm paying for everything already.
Any advice on how to tackle this would be great, I don't want to make a stupid decision that I'm going to regret in a few months!
Thank you
I am opening up a 4 room therapy studio in a couple of weeks. My sister in law is a yoga instructor and will be renting the big room for 3 hours/week for yoga classes. I am planning on renting all of the rooms out to various different therapists.
I feel like I'm in an awkward position. Does anyone offer discount when renting rooms to family members?
I have looked up the other yoga studios to check what their prices are for room rental, and it obviously depends on size and location but the cheapest was £15/hr for day time and the most expensive was £24/hr for an evening 'slot'. My sister in law asked me about how much I was thinking of charging, and I said I hadn't finalised my decision, but it will be between £12-£15 for a 1 hr day time slot. Baring in mind that the studio is in the most affluent area of the city and is brand new with all of the necessary equipment included in the price. And her reply seemed a bit 'off'... I quote 'Hmm, £12 is ok, I pay £10/hr at 'x studio' and they are amazing at getting me clients' etc... Basically I got the vibe that she is expecting the room to be £10/hr because she keeps going on about this place and how good they are. Yes they are well established and busy, but physically, the studio is tiny, can fit 6 people at a squeeze, and the location is a bit awkward.
She also said to me 'you need to understand that the instructors won't be able to afford the rent for a few weeks until they build up clients', apparently she paid half price rent for a year at her current clinic to build up clients, which I think was overly generous of them! I feel like she is expecting me to foot all of the bills (literally) whilst she builds up her classes.
Now I'm panicking about everything. Am I expected to offer her a discount? Is it the norm to offer a discounted rent period, say 6 weeks, to allow therapists/ instructors to build clientel? And is it unnecessary to feel like I have to lower my room rental because it's a new studio and they will really need to work to build their clients, as opposed to walking into a busy studio? I wasn't panicking about any of this before but her reply has really bothered me. The studio can fit 10 people, which would mean £100+/hr for her, minus the rent, I will be doing alot of promo on social media etc for her too. I just feel like she doesn't understand how much I'm paying for everything already.
Any advice on how to tackle this would be great, I don't want to make a stupid decision that I'm going to regret in a few months!
Thank you