Have a Spare Room in Your Office? 3 Tips for Earning Extra Money With It

If you opted for an office that was larger than what you immediately needed, you were smart for making that decision. It gave you room to grow, and you were probably able to make sure that your employees weren’t crowding each other out. If you have an extra room with no immediate plans to use it, you can turn it into a money maker. There are plenty of valuable things you can do with extra office space

1. Hire Somebody to Fill It

How does hiring somebody else make you extra money? Well, it all depends on the kind of professional you choose to hire. If you hire someone like a project manager, this person will be able to use that extra room as their headquarters to draw up plans and lead your team to higher levels of productivity. If you’re looking to reach new heights, a project manager may be able to help you utilize your workforce a little more efficiently, allowing you to get far more done in a much quicker period of time. 

You can also use the spare space for a social media team if you don’t already have one. Social media marketing is growing in popularity. Even the smallest businesses have people in charge of maintaining their online presence and providing real-time customer service via social media platforms. Extending your presence on the internet can help your business grow. 

2. Rent it Out to Another Professional 

You can treat your empty office space the same way you’d treat an empty room in your home – by renting it out to someone who needs it. It’s easy to find rental options on sites like Spacer.com.au. Some businesses are looking for space to store their extra equipment, and you just so happen to have it. Other times, independent professionals, startups, or freelancers are simply looking for an affordable working environment that will match their budgets. Also keep in mind you can save on office expenses such as utilities when renting is shared.

If you choose to rent this space to a person, it often helps to rent to someone whose industry is relevant to your industry. This makes for more networking opportunities that can be beneficial for everyone involved. It’s more than just an opportunity to knock some money off of your rent every month – it’s a chance to learn and grow beside someone with complementary aspirations. 

3. Turn it Into a Specialty Space 

Maximize the value of your additional office space by turning it into a specialty space. If you’re really good at what you do, there’s always someone who would be willing to learn your craft from you. You can hold lectures or workshops to teach aspiring professionals or students with relevant majors the ins and outs of your business. You can even host guest speakers who have made meaningful accomplishments in your industry. When you’re not using the area for these events,  with a quick makeover it can serve as a great conference room or consultation room. 

If you don’t have enough room in this office area to host people in person, you can turn it into a filming room where you can live stream webinars across the world. Webinars are relatively easy to promote, and the audience potential becomes virtually unlimited. People from everywhere can attend your events, and you’ll never have to leave your office to meet with them. 

All you need to do is envision your empty office space as anything other than an empty office space. The potential is only as limited as your imagination. 

Emma Lewis is a loving mother, a devoted wife and a part of the team supporting Spacer – a company helping you find storage space whenever you need it. Emma is also a staunch supporter of the sharing economy and often mentions its benefits in her writing.

I hope you enjoyed this article about how to best utilize a spare room in your office or home to monetize it and share expenses while running a small business.

Interested in more articles about home businesses?

Read My Posts:

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Published by Michael J Schiemer
Owner of Bootstrap Business
Money - Marketing - Motivation
Digital Marketing | SEO | Social Media
Mike Schiemer Builds Better Business

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