In these tough economic times more and more business owners are looking to diversify their streams of income and make cut backs in certain areas of their business. In order to make a profit, you often have to put money in first, which can always be a risk, but there are ways of making money without having to do this. Over the last couple of years many business owners have managed to make money out of the resources that their workforce is not using. In this article we will explain how you can go about making money from your empty office space and the benefits it will have on your business.
Make money from renting out your spare desks
Many business owners with office premises have empty desks. These are usually located in the corners of rooms, as employees tend to like to group together in the centre. If you think about it these desks are wasting your money, especially if you are not in a position to be taking on new staff to fill them. Rather than leaving the space empty, why not considering renting desks out to other businesses?
Renting out office desks is a growing trend in the world of business. There are many different websites popping up online, offering to advertise desk space to individuals and businesses. Freelance workers are often very interested in hiring desk space, as it gives them a permanent place to work. Not all freelance workers like working from home, so this will greatly benefit them, as well as your business. Whilst boosting your income it can also be nice to have a new friendly face around the office.
Rent out your spare office space
If you own or lease a large building that you are not able to fill with your own staff, then you may want to consider renting out part of it to another business. It is a great way of making extra income and may prevent you from having to make cut backs in other areas of your business. It is worth bearing in mind that you will need to check with the owner (if you lease the property) before subletting office space out to another company.
Leasing a building often proves to be too expensive for small businesses and many company owners see it as an unnecessary cost. However hiring a single office room from another company is a fantastic alternative, especially for small business owners that are looking to expand from being a home-run company. As well as charging a monthly fee for the office space, you may even be able to come up with packages that provide you with extra income. For example if you have the resources, you could throw in add-ons like secretary services and computer hire. When it comes to renting office space to other companies, it is best to work on a flexible or short term contract agreement as small companies do not tend to like to tie themselves into lengthy contracts.
As well as renting out office space you could also throw in added value services to make even more of a profit.
Benefits of renting out office space and desks
Renting office space and desks will obviously help to increase your income and prevent resources from being wasted, but it can benefit your business in a number of other ways too. By hiring out desks and office space to other companies, you can make your own business look more busy and successful. Clients visiting your workplace will see that every desk is filled and will think that you have had to hire extra staff and expand your business due to success. Creating a good first impression on clients will help you retain their business and build up a fantastic reputation for your company.
Having new people in the office can also help to boost staff morale and creativity. You never know, one of the freelancers you hire a desk out to, may have certain skills that your business is lacking. It is a great way of making contacts and finding new people that can add value to your business.
Image credit: Martin Cathrae
Author bio: The Work Station offers a registered office address in Hertfordshire for all business correspondence, this includes Companies House and HM Revenue Customs post.