Need your advice/thoughts regarding renting

[Brenna]

I really need some input here...

I opened my own office and I am loving it!
I have been thinking about either hiring another therapist or renting the office out one or two days a week but Im really not sure which way to go.

The office...
There are two waiting areas...
one for when I am in with a client (security with a small camera) and another for initial intake with a very small retail area (I am not a retail store but I do sell any products I use including aromatherapy)

There is a open area that is designed with three areas
Desk, charts, computer, books, etc...
Table and chair massage for massage and stretching
And an area set up for essential oils

The massage room
Its the smallest room of the office (Im not sure the exact measurements right now but at least 15x15)
It has a full counter with pleanty of work space. An area for clients to sit and change. There is a hot towel cabbie, hot stones, music, candles, all massage sheets and everything you could need is in the room.

I would probably include cleaning of the sheets too. The only thing a therapist would have to supply is their own oil or cream.

It is in a highly affluent area and I do get two parking spaces outside my door. The parking lot is not the greatest and I do get people parking where they shouldn't. There is a very large gym in the same parking lot.

I guess my main question is...
What would a good price range be to rent out the office?
How much would any of you pay to rent/use this space? Do you think I'm better off just hiring someone?

(If I can figure out how to put pictures in I will)
Thanks

Side note...just wanted to say hi to everyone, its been quite a while since I've been on the board.


I would say the average hourly massage is $75
the lowest I've seen around here is $65 for an hour
and my favorite is $110 for a 50min is one of the highest (the average Spa massage)

One last thought...that I would love to hear opinions on..
I've seen several places rent out by the hour/shift
minimum 3-4 hour shift between approx $15 an hour =$45-$60 for a shift
Has anyone had any experiance with this kind of rental situation?

 

[DAC]

Sounds like its very complete. I am looking for space right now in the burbs of Seattle area and what I have found is just comparing what one place has to offer over another. Are there others in your area renting out space? What are they asking? You are offering quite a bit and each area is different but here that would most likely go for $450 on up since you are doing laundry and everything. Parking sounds like the only negitive issue. I can't really say on hiring someone. Thats a whole other set of stuff to deal with. Are you up for it?

 

[iiolloi]

Around here most rentable spaces are within chiro offices or gym, etc.
Most just offer the room and a shared reception occassionally they will have a table and some supplies. Its been quite a while since I've researched room rental rates esspecially in this area. The hardest part is I've never seen a place offer what I have. (I don't mean to sound full of myself but my place is really one of a kind) I know I paid $100 per day in a doctors office just for the room (I was suppose to get referrals...in the end it just didn't work out but thats for another post)

I see posted for rent in NYC $175 per month per day, or $325 for both days ($700 a month for one day or $1300 month for 2 days) and I dont know anything about the place or what it includes. That is also in the city

I was thinking in the range of $500-600 or $1000-1100
I just don't know what the going rate is.
I know I really have to look to see what is out there. I figured this would be my first stop for my research, just to find out what other therapist are paying or are will to pay.
Thanks and I would love to hear as much input as possible

 

[Mono]

daybreak,

It might be more helpful if you list what your rent is as well as what an average hour massage cost in your area.

 

[cupcake]

updated original post

 

[Amr R]

i think it partly depends on what your costs are. maybe a good way to figure it would be to divide your rent & utilities & monthly costs by the average number of days in a month (or days you're open) and charge that per day.

$175 a day seems really expensive. seriously, even at $75 an hour for massage you'd have to do at least 5 massages to make it semi worth your time. there's no way i'd pay that much to rent a space for a day.

are you looking to make money with this person in your office or just help defray the cost? i don't know what your rent is but charging someone $700 to have the space 4 days out of the month just seems totally crazy. i don't pay that much in rent and utilities at my place for the entire month of which i have 24/7 access to. but again, i suppose it makes a difference what your cost is.

are you supplying clients for this person too or just the room? i would also reconsider this person not having to supply anything. my concern would be that they are not going to appreciate any of your things and could end up not caring or abusing them. you know what i mean? i would at least make them use their own sheets, creme's/oil etc...

 

[Michelle G]

$175 a day seems really expensive. seriously, even at $75 an hour for massage you'd have to do at least 5 massages to make it semi worth your time. there's no way i'd pay that much to rent a space for a day.
quote]

That I totally agree with...that was posted for rent from someone else.
I was more in the range of $100 per day but I've really been thinking about renting per shift.

I was trying to base rent on what I am offering and the going market for room rentals for therapist. In the end though I did what Terab suggested and it comes out to about $100 per day so I guess I was in a good range.

Thank you for all the input!