Tips for Businesses Renting out Office Space for Conferences and Meetings

Renting out space for other companies or entrepreneurs to hold conferences or meetings is a good way for companies to supplement their revenue. The following are details and tips on how companies can prepare for the same.

Whether a private entrepreneur or a corporate business, multitasking in terms of operations in order to earn greater profits can be a good factor to consider in today’s competitive world. Companies that operate primarily in the service industry, for example, have various options they could consider in order to supplement their revenue. Providing additional services, such as renting out space to other companies or entrepreneurs, taking up outsourcing projects, etc, are some ways in which businesses can supplement their revenue. There are various businesses and companies that might wish to temporarily rent space to conduct events, company meetings, interviews, conferences, etc. Home-based businesses, non-profits, event management companies, professional trainers, etc, are amongst the target audiences that businesses renting out space can expect to encounter (Wagner, 2013).

Once a business decides to rent out space for conferences and events, the next step is to plan and arrange the existing office or business space to best suit such requirements. Since renting out space is on a short-term, temporary basis, usually for the course of a few hours to a few days, companies could consider investing in tools, décor and furniture that can be easily integrated with their own offices. For example, equipping conference rooms with folding tables and chairs is one way in which space can be conserved. These items can be folded and neatly stored post use. Given below are a few such tips for businesses looking to rent out space for events or conferences:

Décor and Style

The décor and theme of interiors should be centered on muted tones and subtle features. This would be acceptable to a wide variety of businesses as well as different types of events and meetings. For example, good quality furniture in black or white vinyl would be suitable for both formal conferences for a corporate company, as well as for less formal get-togethers for non-profits. Pastel colored walls and warm toned carpets would go well with such furniture.

Space and Use

A primary concern for businesses renting out space could be optimizing furniture, tableware, tools, etc, when not in use for a conference or a corporate event. One way to do this is by allocating a separate space for storage of such items. Providing other companies with just a room is not enough to do well in this business. Businesses would also have to provide good furnishings, basic tableware, productivity tools such as whiteboards, equipment such as projectors for presentations, etc. Using foldable furniture and Tupperware tableware could make it easier for companies to store as well as transport these items within premises. Folding meeting tables could be easily moved outdoors for those companies that wish to have meetings in open areas, particularly during warm and sunny weather conditions.

Additional Offerings

For companies to have a better experience, businesses could also provide additional services and benefits such as free snacks, beverages and refreshments. Businesses could also source catering services for conferences held on their premises. By building ties with a particular caterer over time, businesses could avail themselves of quality service at lower prices. This would help them earn profits from renting out spaces to other companies. Ensuring that the areas rented out are well-maintained, with appropriate lighting and temperature is also vital.

Businesses seeking to rent out office space for such purposes can contact furniture and equipment manufacturers and retailers for wholesale purchases. One company that provides whiteboards, office items, furniture such as folding round tables, etc, is AJ Products.

AJ products Ireland is leading furniture brand in ireland. Visit: http://www.ajproducts.ie/