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Artist Workspace Rentals business.
Renting a large warehouse space and dividing the space into smaller sections to rent to artists as work studios is a great way to start your own business and be self-employed. The work studios can be rented on a daily, weekly, or monthly basis, providing they are used for work areas only and not residential units. The business does not require a great deal of investment capital to get rolling, and the monthly profits can be terrific. That is, if you assume a 3,000-square-foot warehouse was rented for $2,000 per month, and the same warehouse could be divided into 15 smaller 200-square-foot artists' workspaces and rented for $300 per month each. This simple scenario could create a gross monthly income of $4,500 each month before expenses. The main requirement prior to starting this venture is to check local zoning and fire regulations to make sure the venture is legal in your local area.