Any type of business can now optimize their space’s potential revenue by renting it out during their downtime.

When Airbnb entered the vacation rental market they redefined what constitutes a hotel. Now any house, apartment or even a tent can be rented out just like a hotel. This change has allowed millions of people to generate new forms of income from their property and given travelers various and unique options for places to stay.

This same trend has now emerged in the event rental market. In the same way that the Airbnb trend created new opportunities for homeowners, this redefinition of what constitutes as a venue has created a new opportunity for any business to generate additional revenue from renting out their space.

Now any space can be rented out as a venue for any type of event or meeting.

Today, people are searching for spaces for a wide variety of events such as offsite meetings, wedding receptions, birthday parties and even a photoshoot. But instead of turning to classic event venues, more and more people are renting out unique spaces. No longer does a venue need to be a stand-alone venue business, instead it can be a coffee shop, restaurant, co-working space maybe even a dance studio. A venue can truly be any space.

In the last year the growth of this gig-market has accelerated, with millions of event bookings taking place on online marketplaces like PeerSpace, Splacer and Eventup. These online marketplaces are the Airbnb for event rental, where they provide a market for spaces to be listed online and rented out for events.

There is a clear opportunity to make new revenue from renting out your business’ space when it’s not being used. Most businesses do not operate 24/7, in fact the majority of businesses use their space during set operating hours — For example: 8am-6pm or 4pm-11pm — and often have days when they are even shut. This means these spaces are not being utilized and are only costing the business money during their downtime.

The ability to rent out your space for events creates an opportunity for businesses to turn that cost into revenue.

I know what you are thinking, this all sounds great, but how much time is it going to take to find customers and manage my event rental?

Well this is the good news: We at VenuesAPI understand this dilemma; a business wants to focus on their business operations not on navigating the event rental market and dealing with customer inquiries. So that is why we create our VenuesAPI software & services that gives businesses their own personal cloud-based event manager.

VenuesAPI was built specifically for the new era of event rental. It helps businesses streamline their event-booking process, maximize their online exposure, and optimize their event rental revenue.

We deliver our offering through a combination of software and services to provide value across three key areas:

• Sales Channel Management — Populating & maintaining all sales channels to provide maximum customer exposure with unified management
• Inquiry Management — Dealing with all inquiries and increasing inquiry-to-booking conversion rate
• Data Insight— Collecting & reporting data across all touch points to allow for optimization

The VenuesAPI cloud-based event manager is your frontline sales team. It handles all inquiries and puts only the confirmed bookings in front of the business, giving businesses the ability to capture event rental revenue without investing their time or the cost of hiring a full or part-time employee.

We want to help businesses capture the opportunity from their space by optimizing its revenue potential. Find out more about having a cloud-based event manager and start optimizing the revenue from your business!