Owning a home isn’t cheap, but guess what? That spare room could kickstart a simple side business! Use it to make extra cash and chip away at those mortgage payments—it’s easier than you think!
We’ve got some great suggestions that are easy to implement and help you earn in a semi-passive manner. No renting out to strangers involved!
1. Offer the Space for Storage Rentals
Storage facilities start at $200 per month for a 5’ by 10’ space and it’s too small to fit anything comfortably. Bigger units, which are usually the size of a bedroom, can go for up to $600. If anyone from your family or friends is in between spaces and needs longer-term storage, you can have them use your space instead. Charge them what feels appropriate. They will appreciate their things being safe with someone they trust.
2. Launch a Moving Box Rental Business
If you want something a little more unique and have spare 10-15 hours every week, you can turn your spare room into a storage space for your moving box rental businesses. People often look for eco-friendly alternatives to cardboard boxes and are ready to spend extra.
Your bedroom can hold up to 200 boxes easily and a small cleaning station. It’s a simple business idea with a low startup cost and produces steady income because people move all year round.
Starting a business doesn’t have to be time-consuming or full of guesswork. Our program guides you step-by-step to launch your very own moving box rental business. Ready to get started? Book a Clarity Call today!
3. Rent the Room for Creative Projects or Filming
Content creators are always looking for unique filming or photography spaces. Promote your room on platforms like Peerspace or reach out to local content creators directly. Vet them thoroughly before you rent out the room and always take a security deposit.
4. Turn the Room into a Mini Warehouse for Local Businesses
Your spare room could become a small warehouse for someone running an online shop or local delivery service. This idea works better if you can provide a separate entrance to this room as they’ll be in and out frequently. Look for businesses in your local community and sign a terms and service agreement.
5. Photography Studio Rentals
Good photography studios are hard to come by, especially in smaller cities. Photographers are constantly on the hunt for new backgrounds. Spaces get rented for $50 to $75 for a couple hours and higher during peak seasons. Collaborate with local creative groups or approach local photographers on Instagram.
6. Host Yoga or Fitness Classes
More people are looking for personalized fitness experiences at a cozy space for one-on-one or small group sessions. Reach out to local yoga instructors that can host weekly sessions. Offer packages to your clients for different kinds of relaxing workouts. The wellness market is one of the fastest growing markets in North America, so if you think in the long-term, it can be quite profitable.
Got more ideas for us to add to these? We want to hear from you!
