Starting a Peerspace? 10 Tips You MUST Know (2023)

[@sheisfab__5474]

Wow! This was so helpful. I've been searching for a video like yours for two months. I cannot thank you enough for this information.

[@hajs8273]

Thank you for the gems.

[@mosesfennel]

Well said.

[@CoriLuvTV]

I’m totally stoked about all these tips. Thanks for sharing these videos.💪🏽

[@Stonekrypt]

Dude, thanks so much for this video. I'm just starting out in the South LA area as well and you gave all the alpha needed to prepare. Much appreciated Brandon.

[@jeanettetran97]

Great info. The market is not as saturated here in Orange County… but real estate is comparable so prices you mentioned are very similar

[@BrandonEsparza]

The Photo Studio Rental Biz Blueprint is NOW LIVE: thestudioblueprint.com/ Learn how to find, design, and make money with a film + photo rental studio. 45+ topics that cover everything you need to know to get started + a one-on-one Zoom call with myself. Check it out!

[@Themindofwes]

Appreciate this bro I needed this foreal 🙏🏽 planning on opening up a production studio of my own based in nyc soon and now I feel more confident

[@rosemaryearl9124]

putting me on game.... tysm KING!!!

[@shaun6155]

Very helpful. What to you feel keeps your spaced booked out the most FILM OR PHOTOGRAPHY

[@rachelyesi_]

Thanks for the great info 🙌🏼

[@wondervisionstudio]

This is GREAT value

[@Misdameanor.]

These seem like great tips. Looking into owning one soon. We don’t have a lot in my area. I want to make it cool with different scenes.

[@BrandonEsparza]

Niceee! What area are you in?

[@ibonmedia6977]

so much value in this video 🔥 thanks homie

[@BrandonEsparza]

Got you! So glad you found this helpful

[@LoveMEx1e]

Very helpful for entrepreneurs!

[@Rhyise10]

I’m in the beginning of my journey. This is great information!

[@BrandonEsparza]

You got this! Thank you for watching!

[@xvrluciano2277]

He's done it again. Thank you bro!

[@BrandonEsparza]

Always man! Thank you for watching

[@ourtreatsdesigns8527]

Thank you!!!

[@tyrobinson8457]

Dope information bro!! Opening a theme space this summer in LA. I still have a lot of questions lol

[@BrandonEsparza]

Let’s get it man!

[@tayoakinmulero]

Urgh, all these free gems!!!! Thank you . So sorry about your first listing and the price hike. That’s daylight robbery . I currently have a space but I’ll def take that into consideration when I open my next. My current space is 800sf and I dream of a 2,500sf. As much as that’s a good thing I forget that the rent may be crazy so it can be more profitable to have numerous small spaces than one huge gigantic space . Have you considered using your big space for events? Oh the Jotform!!! I’ve always wanted a way to get emails to market off the peerspace platform. Your suggestion is brilliant. Can’t wait for more videos . When you say your first space made up to $5k monthly that’s amazing. Will you say it’s majorly due to Peerspace marketing or you’re marketing outside the platform? How many % are returning customers? Is it always very very important to have someone to welcome your guests? I try but I’m 20 mins away from my space, so driving to go welcome someone for a one hour booking feels stressful sometimes

[@BrandonEsparza]

Hey Tayo, so glad you found this video helpful! Yeah if I were to do it again, I'd take the money I invested into my 3000 sq ft studio and invest it into 2-3 smaller studios. OR - I'd build walls and break it down into 4 smaller studios - which I'm actually looking into doing now! That way I can have 4 studios / streams of income running simultaneously. Most of the monthly revenue comes straight from Peerspace! & most returning customers come from Instagram. Peerspace is how they discover us, and Instagram is how they stay in touch. We don't have too many returning customers, since they usually get what they need to on that first day. But there's probably been 10-12 people who have ended up booking twice. I'd highly recommend someone being there to welcome the guests! & maybe making it a two hour minimum might be a good idea for your studio so it makes it worth it.

[@kellykade]

How can you ever make sure that your landlord will not raise the rate in the next year? Do you guys normally come to an agreement depending on how long the lease is?

[@BrandonEsparza]

You can talk with them and have an option to renew the lease at a certain rate put into the contract. If it's a multi-year term, then how much it increases each year should be written in the agreement! Ex, mine increased $150/mo every year of my 3 year term

[@hegemomusick]

Is there a way that I can get in contact with you I have my space and I have a few question for you

[@Dariannetolbert]

This was very helpful! Can you share your jotform rules waiver? I open my studio soon and I've been looking for a template to follow.

[@BrandonEsparza]

Here it is! form.jotform.com/212546695644162

[@samueluzzan6477]

Hey Brandon. I am trying to do some math to get some estimates. Having a hard time finding avg hrs rented + avg number of days rented. Would you happen to have a good way to find this data! Thanks!

[@BrandonEsparza]

Hey Samuel! What I did in the beginning was find studios in my area and look at their Peerspace calendar to see how many hours were blocked out. I just went through each day on their calendar and added up how many bookings they had to find the average # of hours rented. Lmk if that helps

[@BrandonEsparza]

ANNOUNCEMENT! Join my free Discord community for aspiring/current Peerspace rental studio owners looking to network and grow: discord.gg/Jq7KqEag

[@andreabaltodano7221]

For the JotForm / Check in process. Where do you have the QR code when you get to the studio? Also, are they able to check in beforehand or do they have to wait until you arrive to the studio?

[@BrandonEsparza]

I designed a 11x17 flyer that says "Welcome to The Time Machine" "All guests must scan the QR code to check in" and put it in a sign holder / poster stand to see when they walk in! & usually just when they arrive

[@nickkowalski_]

Too good. You're next up

[@BrandonEsparza]

The legend himself!

[@RATSERTZ]

Do you tell the landlord that you're renting them out on Peerspace?

[@BrandonEsparza]

Yes for sure! Some landlords might not be okay with that so def gotta let them know up front

[@RATSERTZ]

Gotcha, thanks man! Very valuable piece of content right here, helps out a lot.

[@BrandonEsparza]

@@RATSERTZ I appreciate it! Let me know if you have any other questions

[@according2leah]

It’s been 5 months since I opened my small unit on Peerspace. Not one rental yet. How did you secure your 1st client?

[@BrandonEsparza]

Hey Leah! It happened pretty organically. Just made sure I had an enticing title and photos. Would you mind sending me the link to your listing through Instagram? Maybe I can give you some more detailed advice! @brandonesparza

[@according2leah]

@@BrandonEsparza Yes, thanks! I will send it today.

[@raybreezee]

OMG dude they did you dirty with the raised rent :/

[@BrandonEsparza]

RIGHT! Hahaha. Learned the lesson and moving on!