11 Creative Ways To Use Your New Warehouse To Make Big Money
What can you do with a warehouse?
The options are endless, but start by deciding between these two:
- Do you want to sell it for profit?
- Do you want to use it to make more money every month?
If you want to use your warehouse to increase your own income, there are many ways to monetize your new empty space.
Here are 11 unique ways you can make money with your new warehouse.
11 Creative Ways To Monetize Your New Warehouse'
1. Start a Flea Market or Farmer’s Market
You could help out local businesses and entrepreneurs by setting up a farmer’s market or flea market. These events are a great way for local restaurants and other brick-and-mortar stores to show their goods to a new audience.
Before you open up your farmer’s market, make sure you check out the local zoning laws. In some locations, you might need special permission from the state or city to open a market.
2. Convert It Into A Gallery
Your warehouse could become an amazing destination for art lovers.
Whether you decide to open a traditional gallery or an immersive art experience, a warehouse can provide a unique space to showcase local artists.
There are various ways you can monetize a gallery, even beyond the traditional fee gallerists receive when they connect artists with buyers. You could provide artwork rentals to local businesses, provide art consultation services to people looking to expand their art collections, or connect home staging businesses with art.
Opening a gallery is not just a great way to make money for yourself, but a way you can support local artists and move their careers forward.
3. Turn It Into A Coworking Space
Does your warehouse already have an interior office set up? Then it could be a great option to convert it into an office space or community coworking space.
By turning your warehouse into a coworking space, you can make money by renting out desks or offices short-term or long-term. A coworking space is extremely valuable to remote workers and companies trying to bridge remote work and in-office work.
Remember that a successful coworking space needs ultra-fast internet, conference rooms, and air conditioning. Make sure to factor these costs into a budget for this venture.
There are many pricing models you can choose from if you go the coworking space route, from desk and office rentals to mailing address and storage services.
4. Offer Storage Services to Local College Students
Baltimore is a major collegetown that’s home to several universities.
Students may need storage during the summer when they’re not taking classes. You could charge a monthly fee for students to use the space.
You could add small lockers to your warehouse or divide it into bigger storage units.
To monetize your storage business further, you can consider offering related services like packing or transportation.
5. Convert It Into A Parking Garage
If your warehouse is in an urban area, consider converting your warehouse into a parking garage.
You can either convert your whole warehouse into a parking garage or rent out the warehouse’s parking lot.
This could be a lucrative business option if your building is in a congested downtown area. To make money, you can charge daily, monthly, or yearly to rent out your parking spaces.
6. Start An Artist’s Community
If you want to use your warehouse to give back to the community, consider starting an artist’s community.
Provide spaces for artists to work on projects, or use wallspace for large works like murals.
Use your warehouse as a space for artists to meet up or to host events to promote their work.
7. Convert It Into a Recording Studio
Do you live in an area that doesn’t have a lot of access to recording studios? Use your warehouse to start your own.
By converting your warehouse into a recording studio, you can connect musicians with soundproofing services, acoustic treatment services, and basic audio equipment.
You can also rent out practice rooms for musicians who can’t practice at home.
8. Start A Brewery Business
Ready to take your craft beer hobby to the next level?
Beer brewing requires a lot of industrial-level equipment, so a warehouse would be an ideal storage space. Depending on the size of your building, you could also have a small bar or other tasting space for your business.
9. Convert It Into a Trade Show or Exhibition Center
The tradeshow business is an 11.2 billion dollar industry, so why not capitalize on it by using your warehouse as an exhibition center?
With a few supplies like tables and chairs, pop-up tents, and enough space to set up your booth, you can provide a space for organizations looking to host trade shows.
If you want to test the waters before jumping into this idea, connect with local businesses in an industry you’re passionate about and see if a trade show would be helpful to them. Trade shows are a great way for businesses to show off their wares and skills, and you’ll likely generate a lot of interest.
10. Open An Indoor Skate Park
Dreaming of a creative way to build community? Then use your warehouse to open up an indoor skate park.
Skate parks and roller rinks bring up all sorts of nostalgic feelings for people. They’re a great way to bring a community together and create a positive space for people of all ages.
If your warehouse is in a community with limited recreation organizations like parks or rec centers, you could use your building to foster new connections and provide community activities.
11. Rent It Out As An Event/Entertainment Space
Warehouses can be wildly flexible spaces that are great for many different types of events.
Whether people need a space to host a concert or a wedding venue, a warehouse could be the perfect option for them if you’re creative and have the resources to operate a flexible space.
Renting out your warehouse as an event space is an excellent way to make money. You can charge people differently based on the type of event, organization, etc. There are a million ways you can profit off renting your warehouse for events and entertainment.
Ready To Make Your Next Creative Deal?
Are you dreaming of owning your own warehouse? Guerilla can make that happen.
We specialize in cool, creative real estate deals and can make your warehouse owning goals a reality.
If you want to learn more about the buying process or are eyeing a particular building, we can help.
Reach out to David Tomasko today to explore your options and buy your building.