Are you interested in diversifying your revenue streams or optimising the use of your studio space during idle hours? Contemplating the prospect of renting out studio time can initially evoke a sense of trepidation, given the personal investment and meticulous planning that goes into creating a studio environment.

Upon consideration, I embarked on exploring the option of  hiring out spare time in my timetable. The idea of allowing another individual into what felt like my exclusive space initially posed a challenge. Prior to venturing into this endeavor, I undertook a thorough process of research and due diligence.

Typically, our studio timetable exhibits significant gaps, rendering the space unoccupied for extended periods. Having invested considerable resources in establishing a well-appointed studio, the realisation dawned on me about the untapped potential of utilizing this spare time to generate supplementary funds. The objective was to operate the studio space in a cost-effective manner, aligning with the financial sustainability of the overall studio operation.

As a dance studio owner, I understand the importance of having dedicated and functional spaces that reflect the professionalism of our business. Over the course of 30 years in the industry, I have meticulously designed and maintained studio spaces to cater to the diverse needs of our dance lessons, meetings, and other events dictated by our business operations.

Implementing the strategy of hiring out studio spaces during idle hours has proven to be one of the most successful endeavors in my extensive studio experience. The additional income generated not only serves as a supplement to the studio’s primary income but, remarkably, covers the mortgage on the premises entirely. Imagine the prospect of your studio lease or mortgage costs being reduced to zero or, better yet, transforming into a revenue-generating asset even before setting foot in the building. The feasibility of this concept is more attainable than it may seem.

Drawing from this success, I have formulated a user-friendly, step-by-step process that demystifies the approach, allowing you to capitalize on your studio space and generate additional income. Having navigated through the nuances of this process, I can confidently assert that the advantages far surpass any potential drawbacks. Prepare to unlock an avenue for supplemental income that can benefit both your business and personal life.

I am eager to share this valuable insight with you and guide you through the seamless integration of this income-generating strategy into your studio operations. Embrace the opportunity to optimise your studio space and embark on a journey to enhance both the financial sustainability of your business and your personal life.

Why hire out your studio space?

Creates an additional income stream for your business.

Creates an opportunity for you to streamline a few premises processes which makes your studio more efficient, safer and more secure.

Advertises your business even more from a different angle than that of just your normal class marketing.

Adds overall venue security by having more people in your studio during more of the week.

Provides you with cross-promotion opportunities with the people or groups hiring your studio space.

The extra income generated can allow you to do those other things in your business you always wanted to, for example, new signage, update your sound system, put in CCTV or buy new tumbling mats.

The extra income can allow you to consider moving into a larger studio space you always wanted but did not think you could afford.

Provides income to your business during holiday periods when your business is not generating income, which in turn settles the peaks and troughs of income.

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