Renting out training space

[jamiereid92]

Hi Geeks,

I have recently taken over a salon, its huge, and has a massive training room on the third floor.

A college is interested in renting it out , i have no idea if they are looking to use it for a few days, or quite regularly.

Where can i go to find advise for what to charge for this? I don't want to cut myself short, but at the same time it is just dead space at the moment.

Any help will be appreciated thanks x

 

[squidgernetball]

Hey Jamie. You have to work out what it would cost you to let it out. If you were to put a therapist up there (for example) for a rental it could generate a good £200 pw at least. As your salon grows, you may have an upstairs with stylists etc.

See what they want to do with it. Do they want it for days at a time. Would there be lots of students traipsing through and so on. If it’s half days or hourly, you’d charge more than if it was a weekly let. You also need to check if they want to store products etc there and come and go or would they be happy for you to let it out to someone else on the days they aren’t there. And so on!!!

See what they want and need. Think about what you’re including in the price - electric, WiFi, tea, coffee and so on. Then go back to them with a price.

Vic x