If you own a small business, then it’s highly likely that your business property is already making you money, in the form of profit from sales.
However, if you’re going through a cash flow slump, and sales are low, you may be racking your brain for some money making schemes to earn you a bit of extra cash to get you by until next month.
Even if you’re not having financial issues, and business is booming, there is absolutely nothing wrong with trying to make the most money possible from your business property.
You paid for it, after all. If you’re stuck for ideas or aren’t very creative, then fear not; Here are some ways for you to make money from your business property.
Offer Paid Advertising
When you go to the counter of your favourite store, what is it that you see? Often it’s leaflets, flyers, and catalogues not only for the store itself but for other companies and stores too.
Big companies certainly aren’t going to litter their counters with other businesses flyers, unless they’re getting something out of it themselves. This tends to be a payment, and you could be paid too.
The same goes for putting up posters and leaflets in your windows. Of course, some leaflets and flyers you would be happy to put out for free, such as advertisements for charity events.
But if you get any for other stores and businesses, ensure you ask a small fee to have their advertisements displayed for a set amount of time, much like at a post office.
Just don’t have too many littering your store at any one time, as this will only make your business look unprofessional and messy.
Rent Out Empty Office Space
If you have an office in your business property that isn’t currently in use, why not make some money out it? There is absolutely no point in allowing a perfectly good office to gather dust, just because you don’t have an employee that needs to use it yet.
There are plenty of simple ways to rent out office space, such as putting an ad in your local newspaper or posting a listing on free websites, like Hubble.
You don’t even need to have a whole room spare, as there are even entrepreneurs and business owners looking to rent just one desk, which could simply be a spare in your office.
Make An Empty Office Space
Okay, so this idea will actually cost you some money to get it up and running, but once it’s completed, it will benefit you no end. If your business premises happen to come with a cellar, you need to think about if you’re really getting as much use out of it as you possibly can.
Simply storing boxes and junk down there, for example, isn’t going to earn you any money. Instead, you might want to consider converting your cellar into a habitable office space, which you can then rent out to entrepreneurs and business owners using the ideas above.
Tanking a cellar (which is how you waterproof it and reduce the chance of damp) is likely to require professional help, such as from a contractor, but the painting and decorating you could do yourself, to save you some money.
Converting your cellar is likely to increase the overall value of your building, so if you think you may move premises any time in the future, it’s definitely something to consider.
Rent Out Your Parking
If you live close to your business property, don’t have a car, or simply prefer public transport, but happen to have a parking space for your building, you shouldn’t let it go to waste.
Not everyone is as lucky as you to get free parking right outside their premises, and those people will be willing to pay you for the opportunity.
If your small business is located relatively near several others, have a look to see if all of those also have parking right in front or behind their premises.
If the answer is no, you may want to speak to the owner and ask them if they would like to rent your car parking space. Alternatively, if you’re located in a big city, near an airport, you should consider renting out your space to people going on holiday.
As long as your rates are cheaper than the ones for airport parking, I’m sure you’ll have people practically biting your arm off.
Any one of these methods will help you to earn some extra cash from your building so why not give one of them a try, and make the most out of your business property.