How to charge for renters of my studio space?


#1

I need help with how to charge or price for use of my studio space. I am in a very, very small community and have secured a personal trainer and another teacher that does pilates. My question is how do I charge them for use of my space? What have you seen out there… just charge by the hour? Charge by a percent of what they are making for each class? I would think by the hour would be easiest to manage - could discount if I did a charge per month maybe. Charge by percent of the class would be harder to manage I would think, but if that is the standard? Any input would be appreciated.


#2

So if i’m to understand this correctly you won’t be helping teach these courses? they are simply renting the space from you to teach classes? If that’s the case you want to find something that’s fair for both of you. If he only makes 100$ a day then you probably shouldn’t charge him 90$ or it won’t be worth it for him. Honestly the easiest way to do it would be to find out how much you’re trying to make, how much time you need to spend cleaning/preparing. Most places i’ve seen charge a flat rate, but if you’re trying to build interest and get people into renting your space maybe you’d want to charge a % of profits until it picks up enough to charge a solid amount but make sure to disclose that before hand.