Room Rental

[Riley]

Hello everybody, new to this sight.  I have been kicking around an idea and wanted to get some opinions from some of you. The office where I rent has another room coming open.  I was thinking about renting that room, fully furnishing it with everything needed for massage (I have another table. radio. sheets all that stuff).  Then renting the room by the hour to other massage therapist who are just getting started, work part-time, or do not want to work out of there house(which in my opinion is very unprofessional...anyways).  The office is located in a very nice upscale building in town.  The office would only cost me about 350 a month. I was thinking about charging $10 an hour (for hour and fifteen minutes to allow client observation and what not).   The average is about $45-60 per massage in town. I have a secretary that can set up all the appointments so I would not have to deal with that.  The only draw back would be more laundry!!! ( I hate laundry lol) But I have learned that dirty laundry mean money in the bank regarding massage!!!!Can anyone give me any advice weather they think this is a good Idea.  I have all the supplies so the start up is very minimal.  I am no cpa but I think that I would not have to keep up with any of there tax stuff since I am renting a room? ANYONE KNOW?Any comment or suggestion would be appreciated.Jason ???

 

[RexRomanus]

That sounds like a very good idea!  For therapists that are just starting out, room rental can be a scary concept.  I suspect many of us opt for employment instead of self-employment to start out with, because the monthly $$ commitment involved in renting a room - with no guarantee that we'll get enough clients to cover that overhead - is just too much risk.  I know that was a major factor for me.  I would've liked an hourly option.Sounds like it could be very nicely profitable for you, too!Some ideas:Are you carting your linens to and from home every day, or do you have a washer and dryer on site?  If this venture means that you'll be spending most of your evening at home washing sheets, you might consider going with a higher price (like $15) or else having the therapists bring their own sheets.Consider that in addition to renting hourly, you might also rent the room for longer time periods at a slight discount.  For instance, a three-hour block of time for $20 or $25... or a full day for $50.  This keeps costs low for the therapist, and administrative/cleanup tasks low for you.

I am no cpa but I think that I would not have to keep up with any of there tax stuff since I am renting a room?

No, you don't need to keep track of any of their tax (I'm assuming you're in a state that taxes massage therapy services) info.  Since you're not performing the massage or directly collecting the fees, it doesn't involve you; the therapists are separate business entities.  You would need to keep track of rental income and expenses for your own state/federal income tax, though.Let us know how it goes!

 

[Ada]

Room Rental

Thanks guys for the ideas and suggestions!!!!!!!If anyone else has any say please feel free to post some ideas!

 

[B.k.]

There are some places around here that do that and actually rent their rooms out by the day of the week and have people rent them on a monthly basis.  (ie rent would be for every Tuesday for the month of August)I would think that might be easier and possibly more profitable than an hour here and an hour there....