Extra Room in Your Home? Turn that Bedroom into a Business
According to the Queensland Government, home is the most accessible and manageable place to launch a new business, reduce start-up costs, and fine-tune processes and procedures before relocating to a dedicated business space. A specific room in your home can serve as a dedicated office space or other location for your business operations.
“There are various home business financing options, including loans, grants, and crowdfunding. Home businesses are often more flexible and can enable homeowners to manage their mortgage payments more effectively,” says business expert and second mortgage loan provider Shane Perry of Max Funding.
Here are ten ways you can turn an extra room into a business:
1. Convert The Extra Room Into A Home Office
Furnish the extra room with a desk and storage furniture to create a makeshift home office. Install a shelving or storage unit on the wall to maximise space and provide additional room for storing supplies and documents. You may also add a couch for comfort if needed.
2. Create A Mini-Warehouse
You can use an extra room to store excess inventory for your business. Install a heavy-duty pallet rack to store and organise products efficiently.
3. Set Up A Showroom For Displaying Products
Set up a showroom for customers to view and purchase your products. Equip the room with adequate lighting, furniture and mannequins so that customers can view the products up close and make a purchase.
4. Establish A Meeting Space
Set up a meeting space with comfortable seating, tables, and multimedia presentation tools. It can be a great area to conduct meetings with clients, employees, or prospective business partners.
5. Design A Photography Studio
You can turn an extra room into a photography or film studio. Depending on the room size, you will need to install appropriate equipment, such as lights, camera stands, diffusers, and backdrops.
6. Create An Art Studio
Set up an art studio by installing an adjustable desk, plentiful storage, and expansive floor space. Make sure you have plenty of light and comfortable seating so artists can feel inspired and creative.
7. Build A Music Studio
Install proper equipment, such as soundboards and monitors, to host recording sessions for various musicians. You will also need studio monitors, instruments, microphones, amplifiers, and more.
8. Start A Rental Space
Transforming a room into a rental space can provide a steady income stream and help cover the mortgage or other expenses associated with the property.
9. Turn It Into A Convenience Store
Equip an extra room with a mini-fridge, shelves, and a register. Set up a point-of-sale system and install snack vending machines. Offer customers snacks and beverages in exchange for coins.
10. Create A Daycare
Change an extra room into a fun, stimulating daycare area. Set up a play area with kitchen appliances, stuffed animals, crafts, books and more. Make sure you have adequate seating and storage.
Transforming an extra room into a business can be an excellent approach to beginning a new business. It can also be an economical way to start a business quickly and easily. You can transform any extra room into a successful business with creative thinking and strategic planning! Just be sure to check any planning restrictions with your local council and state government.