Monetize your vacant meeting space
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Why we need to rethink vacant about meeting spaces?
Meeting spaces have been a constant in the business world for decades. They are places where people can gather, discuss, and make connections. But in today’s digital age, meeting spaces are becoming obsolete.
The main reason why we need to rethink our vacant meeting spaces is because of how digitalization has changed the way we work and interact with one another. In this digital age, people are constantly on their phones or laptops instead of focusing on what’s happening around them.
Some companies have replaced traditional meeting rooms with virtual ones that allow employees to participate from anywhere they want to be. This gives companies more flexibility with how they structure their working hours and allows employees to work from home when needed while still getting face-to-face time with clients or colleagues who live far away from each other.
How to start a meeting venue rental business?
When you start a meeting venue rental business, it is important to remember that the primary goal is to make money. You should also think about how you will be able to provide an excellent service. If you’re considering starting a meeting venue rental business, there are a few things you need to keep in mind.
- First, you’ll need to find a suitable location for your business. This means finding a large enough space to accommodate your potential client’s needs that is convenient for them to get to.
- Once you’ve found the perfect location, you’ll need to outfit it with the necessary furniture and equipment. This can be a significant investment, so do your research and shop for the best deals.
- Finally, you’ll need to market your business to potential clients. This can be done through online listings, word-of-mouth, and print advertising.
By following these simple tips, you’ll be well on your way to starting a successful meeting venue rental business.
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Is my space a good fit?
Discover your space’s potential on Storefront.
Utilize our free calculator that evaluates your space by comparing it to similar listings on Storefront. You’ll receive an estimate of the inquiries and bookings your space could attract.
How to succeed with Storefront
Maximize your meeting space’s potential with three easy steps to win more renters on Storefront.
- Enter your daily price so that it is publicly displayed. Pricing is necessary to get relevant requests from qualified renters who can afford your meeting space.
- Photos are your most important marketing tool. Listings with at least six high-quality photos taken from a variety of angles get more bookings than those without.
- Update your availability calendar to show prospective renters when they can book.
- Respond to inquiries within 48 hours. Projects often find a new space within five days – keep a competitive edge with a speedy reply.
- Enable SMS notifications to close deals faster. Hosts with SMS notifications enabled are more likely to be able to start a conversation and get a quote within 24 hours.
- Always accept payments through the Storefront platform. Add your bank account information to get faster bookings. Then you can pre-approve brands to rent your meeting space. Learn more about collecting payments here.
- Boost your space to appear higher in the search results. Once your listing is live you have the option to Boost your listing with a monthly subscription. Boosted listings appear at the top of relevant searches and consistently receive more views, inquiries and bookings.
Monetize your empty meeting space
Listing your meeting space with Storefront in three steps
- It takes 5 minutes
- Take some great photos
- Get your contact and payment details ready
How to set up a meeting venue?
A meeting venue is a place where people can come together to discuss and decide on a plan of action. It can be a physical location, such as an office or conference room, or it can be online. Here are a few tips on how to set up a meeting venue:
- Choose a location that is convenient for all attendees. If possible, choose a location that is close to public transportation.
- Make sure the meeting space is comfortable and has enough seating for everyone.
- The meeting room should have all the necessary AV equipment for presentations.
- The space should be well-lit and have positive energy.
- Ensure the venue has a backup plan in case of inclement weather or other unforeseen circumstances.
By following these tips, you can be sure to set up a meeting venue that will ensure a productive and successful meeting.
Find more renters with amazing photos
- Take professional photos
- Write a top-notch space description
- Put down the right pricing
What to do with vacant meeting space?
A vacant meeting space is a massive waste of money. It’s hard to find a place that can accommodate large groups, and finding another space that offers the same level of amenities is challenging. If you manage a building with vacant meeting space, you may wonder what to do with it. Depending on your needs and goals, a few different options are available.
- One option is to lease the space to another business. This can be a great way to generate additional income for your building.
- Another option is to use the space for events or conferences. This can be a great way to generate foot traffic for your building and promote your business to a wider audience.
- Finally, you may also consider using the space for your business needs. This could include using it for training or development or simply as a place to hold meetings or brainstorming sessions.
No matter what you decide to do with your vacant meeting space, it’s important to consider all your options and choose the best option that best meets your needs.
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How long does it take to fill vacant meeting space?
It can be difficult to determine how long it will take to fill vacant meeting space. There are several factors to consider, including the meeting space’s location, the space’s size, and the event’s type. Generally, allowing at least a few weeks to fill vacant meeting space is best. This will give you time to promote the space and find potential renters. If you can fill the space more quickly, that would be great!
You can do a few things to help fill vacant meeting spaces.
- First, promote the space through your website and social media.
- You can also reach out to local businesses and organizations to see if they are interested in renting the space.
- Finally, consider offering discounts or other incentives to encourage people to rent the space.
This way, if the space isn’t rented on the first day, you don’t have to worry about that space sitting vacant for a long period. The other benefit is that if your office space is used a lot, you can limit the time the space is vacant.
Fill your vacant meeting space with Storefront for free!
How to make an empty meeting space look inviting?
Empty meeting space is a common problem in the office. When planning for a meeting, it is important to ensure that the space looks inviting and appropriate.
Empty meeting space can feel uninviting and unwelcoming, but there are a few things you can do to change that. With a little bit of effort, you can make your meeting space look inviting and hospitable. Here are a few tips:
- Choose warm, inviting colors for your walls and furnishings.
- Add some greenery to the space. Plants can help to soften the feel of a room and make it feel more welcoming.
- Bring in some comfortable seating. Chairs and sofas that are comfortable and inviting will make your meeting space feel more like a home than a business.
- Make sure the lighting is warm and inviting. Overhead fluorescent lights can be harsh and uninviting. Try softer, more natural lighting instead.
A very good way to make an empty meeting space look inviting is to use a combination of colors. You can try different paint or wallpaper colors, but you can also use accents in the room to create visual interest.
5 Key steps to managing a successful meeting venue business
Successful meeting venues are a key component of the hospitality industry. Meeting venues can be expensive to set up and maintain, but many steps can be taken to help manage the cost and ensure a successful venue.
- First, you need to find the right location. The venue should be centrally located and easily accessible by public transportation.
- Second, you need to have a clear understanding of your target market. Who will you be catering to? What type of events do they hold?
- Third, you need to develop a strong branding strategy. Your venue should have a unique look and feel that sets it apart from the competition.
- Fourth, you need to create a comprehensive marketing plan. How will you get the word out about your venue? What type of promotions will you run?
- Fifth, you need to manage your finances carefully. Track your revenue and expenses to make informed decisions about your business.
These five steps are just beginning your journey to becoming a successful meeting venue proprietor. However, to succeed, you must be willing to learn, adapt and take action. You must be willing to be different than your competition.
Make your meeting space successful with Storefront
Any type of space can thrive on Storefront, from vacant retail space to industrial lofts.
After all, one thing that makes Storefront unique is its diversity of options.
Maximize Your Storefront Listing
Once it’s published, Boost it.
Boost your listing for more inquiries
- Once you’ve created your listing in the Storefront platform you will have the option to Boost it.
- Boosted listings appear at the top of search results, outranking similar spaces.
- Boosted listings receive more views, inquiries and bookings.
- Boosting a listing is a monthly subscription that can be canceled at any time.
- The cost to Boost a listing depends on the type of space and location.
- When your listing is live you will see a Boost button next to each listing in the ‘manage listings’ section of the platform.
How to make money with renting your commercial meeting space?
Commercial spaces are often empty for a large portion of the day. This is why it is important to find ways to make money from your commercial space. One way to do this is by renting your space to other companies needing a meeting room.
If you’re considering renting out your commercial meeting space, you may wonder how to make money from it. Here are a few tips to help you get started:
- First, ensure your space is up to code and meets all safety requirements. This will help you avoid any problems down the road.
- Next, market your space to potential renters. You can create a website or brochure highlighting your space’s features.
- Once you’ve found renters, be sure to sign a contract outlining the rental agreement’s terms. This will help protect you in case of any damages or other problems.
- Finally, collect the rent payments and deposit them into your account. With proper planning and marketing, you can make a nice profit from renting out your commercial meeting space!
I would like to note that there is no better way to make a profit than by renting the meeting spaces. However, you must ensure that the place you rent is suitable for your intended audience and the amount of cash you want to make.
5 Ways to monetize your meeting space
As a small business owner, you always seek ways to increase revenue. One way to do this is to monetize your meeting space. Here are five ways to do this:
- Rent out your meeting space to other businesses for training sessions, seminars, or other events.
- Offer catering services for events held in your meeting space.
- Provide audio/visual equipment rentals for events held in your meeting space.
- Offer meeting space rental discounts to members of your Chamber of Commerce or other business associations.
- Advertise your meeting space on your website and in local print and online publications.
Using space more effectively means better use of place and more good work done well. A little design thinking and a little creativity can go a long way.
Advertise your meeting venue on Storefront for free today!
Renting out meeting space
Renting out meeting space can be a great way to earn some extra income. Whether you have a spare room in your home or a commercial space, there are a few things to keep in mind to ensure a smooth transaction.
- First, consider the type of meeting or event that will be taking place and make sure your space is appropriate.
- You’ll also want to set clear expectations with the renter regarding price, timing, and use of the space.
- Finally, be sure to take care of the little details, like providing refreshments and ensuring the space is clean and presentable.
By following these tips, you can make renting out meeting space a breeze.
Guidelines for renting out meeting space
When you’re searching for the perfect meeting space to rent, there are a few guidelines you should keep in mind to ensure you make the best decision for your event.
- First, you should consider the size of the space and how many people you’re expecting to attend.
- You’ll also want to consider the amenities important to you and your guests, such as audio/visual equipment, catering options, and parking availability.
- Additionally, it’s important to consider the location of the meeting space and whether it’s easily accessible for your guests. Keep these factors in mind as you search for the perfect meeting space to rent for your next event!
Meeting space rental is a fast-growing industry in the business world, and it’s a great way to maximize your investment in office space and create value for your business.
At the same time, it brings new challenges and responsibilities for owners and operators of commercial office space. The key to success is understanding how to balance these factors and letting the property serve the entire community’s needs.
Advertise your meeting venue
Are you planning a conference, seminar, or another professional event? If so, you’ll need to find a meeting venue that meets your needs. When you’re choosing a meeting venue, it’s important to keep your audience in mind. You’ll want to find a convenient venue with the necessary amenities and services for your attendees.
Once you’ve found a few potential meeting venues, you’ll want to start advertising your event. There are a few things to keep in mind when you’re advertising your meeting venue.
- First, you’ll want to ensure you’re reaching your target audience.
- You’ll also want to ensure that your advertising is clear and concise. You want to make sure your audience is aware of the information.
- Finally, you’ll want to ensure that your advertising budget is realistic. You don’t want to overspend on advertising, but you also want to make sure you get all the right things.
Hotel meeting venues are often considered a one-size-fits-all kind of space. In reality, though, there are many options and alternatives to choose from. The best space for your event will depend on your budget, the number of attendees, and the purpose of your meeting.
Frequently Asked Questions
Having a live listing on Storefront requires a paid monthly subscription. However, we offer a free 45-day trial which doesn’t require credit card or bank details to get started.
After the free trial ends you will have to upgrade to a paid subscription to keep receiving inquiries.
Storefront takes 20% of the rental price as a transaction fee. This all comes out of what the renters pays. When you set your price in the platform you will clearly see how much you will receive per transaction.
Storefront offers a free trial of 45 days for new listings. After 45 days you will have to upgrade to a paid subscription to keep your listing live.
At the end of the 45-day free trial if you do not upgrade to a paid subscription your listing will be deactivated an go offline. Offline listings will no longer be visible to renters and you will no longer receive inquires
Once a space goes offline you will need to upgrade to a paid subscription to put it back online. As soon as you subscribe your listing will be visible to renters and you will start to receive inquires again.
Unfortunately not. Duplicate listings will not be approved and any such listings will not go live until the Listing Owner upgrades to a paid subscription.
After your 45-day free trial has finished you will need to upgrade to a paid subscription to keep your Listing live. The subscription is a monthly price that varies country to country. In the United States it costs $49 a month. Prices for other countries are similar but vary slightly depending on currency.
You can use the chat function to speak with renters in the platform. After you have worked with us for a
while you will be able to speak directly with them by clicking the ‘Request To Call Back’ button. This will
allow you to arrange a time to have a call with the brand. Please note: This functionality is not available to
everyone and we reserve the right to remove it if we feel it is not being used responsibly.
It usually takes 3-7 business days to process your payment.
Once you have confirmed your availability with the contact, you can click the button that say “Arrange
a visit” here you can suggest multiple dates and times that the brand can select.
A broad range of brands and renters use Storefront to find venues and spaces for their projects. From high street apparel to
high end showrooms and corporate events. If you make it clear in your listing what types of renters your space is
most suited to (including, event type, description, minimum duration, pricing etc.) you should only receive inquiries
from renters within your target demographic.
We do not organise viewings if you manage the listing. A select number of Storefront Listings are operated by the Storefront Concierge team but this is only for a very small number of listings and is a billable service (you will probably have to pay for it).
If you would like Storefront to manage your listing (including visits) please let us know and we will see if it’s something we are able to accommodate. There may be a fee involved. The best option will be for you to arrange your own viewings
All types of commercial real estate perform well on the Storefront platform. Anything from retail, photo studios and art galleries to showrooms and warehouses. We attract a broad range of renters looking for all manner of use cases.
If the brand wishes to rebook, please instruct the brand to go back to the Storefront listing and rebook.
This is part of Storefront’s terms and conditions of usage and if you do not correctly follow this process we reserve the right
to pursue any guilty parties for breaching the terms and conditions.
Yes you can you can refuse a project if you feel the inquiry does not suit you or your listing.
Once your listing(s) has been published on Storefront you are immediately visible to potential tenants and able to start receiving inquiries. However, it is highly recommended that you scroll up and read the ‘How to succeed with Storefront‘ section of this page.
A highly optimised and well-managed listing will receive more inquiries and you will get more out of the Storefront platform. Optimising and managing your listing is straightforward, easy, and well worth the few minutes it will take.
We have created this video to help you.
You can also Boost your listing for a monthly subscription. This is done after your listing is published and live and will ensure your listing is one of the first relevant prospective renters see when searching the Storefront platform.