One Year on Peerspace

What is Peerspace?

Peerspace is an online marketplace founded in 2014 that allows individuals and businesses to find and book unique spaces for various events. Peerspace is designed for both hosts (people with available spaces) and guests (those looking to book spaces). Hosts can list their spaces for rent, while guests can browse and book these spaces for different purposes. It caters to a wide range of users, including individuals looking for event spaces, professionals in need of meeting rooms, photographers seeking unique photo shoot locations, and more!

Using Peerspace is simple, whether you are listing a space for rent or booking a space for your next event, photoshoot, meeting, etc.

Listing a Space:

• Hosts can create an account on Peerspace and list their available spaces for rent.

• Provide details about the space, including photos, amenities, pricing, and availability.

  

*Did you know the Bloom Studio is on Peerspace? Check it out here

Booking a Space:

• Guests can browse through the available spaces on the Peerspace platform.

• Use filters to narrow down options based on location, size, amenities, and budget.

• Once a suitable space is found, guests can send booking requests to the host.

  

Photographers, Filmmakers, Content Creators, Entrepreneurs, and more! Peerspace is a tool for anyone! Especially in the creative industry. It allows people to have a space to explore their creativity and really fuel their passion.

• Meetings and Workshops: Professionals use Peerspace for hosting business meetings, workshops, and training sessions in unique and inspiring environments.

• Photo and Video Shoots: Photographers and filmmakers utilize Peerspace for photo shoots, video productions, and other creative projects in visually appealing locations.

• Events and Celebrations: Individuals and businesses book spaces for events such as birthday parties, weddings, receptions, and corporate celebrations.

• Pop-up Shops and Markets: Entrepreneurs and retailers may use Peerspace to find spaces for temporary pop-up shops, markets, and promotional events.

• Art and Creativity Spaces: Artists, designers, and creative professionals seek inspiring spaces for art exhibitions, gallery showings, and collaborative projects.

Our Experience

Overall Experience:

After 1 full year with our studio listed on Peerspace we cant say enough good things about the platform. We’ve been able to host 14 rentals through the platform and generate 5 positive reviews about our space. Also, we have been able to rent out some of the older gear that we have in the studio as “add ons” that guests can book with our space.

One of my favorite things about Peerspace is the ability to host interesting productions. In 2023 we hosted everything from a small photographer shooting a passion project to a FOX documentary interview. It’s always fun to let people in, hear their stories and learn about what they are shooting.

What Peerspace is missing

If I were to change one thing about Peerspace I would love to see more information about the guests. Don’t get me wrong we’ve only ever had amazing guests, but at the end of the day it feels a little weird to let someone into your office only knowing their name. We do have cameras and I know Peerspace has all of their information but I would love to see Peerspace add some additional security measures in the future so I could vet people a little more before executing a rental.

All that said we’ve been extremely happy with Peerspace and can call them a partner of ours. In 2023 they helped our business find another stream of income and their brand is without a doubt trusted amongst the creative community.

Pricing and revenue:

When we initially posted our studio we had it listed at $100/hour. This was the median price for studio rentals in Minneapolis. However, after a few slow months we reduced the price to $75/hour to boost rentals and gain reviews.

Today our studio is still listed at $75/hour which is towards the lower end of Minneapolis rentals but this lower price point has been able to get us a few longer term rentals spanning over 2-5 days and sometimes generating over $2500 in a week.

All that said, it’s time to get real. When we first listed our studio we thought we would never have to pay for rent again. We thought the studio rentals would be pouring in and it would be a super lucrative part of our business. After one year I reflect that although its good to have studio rentals from time to time you can’t necessarily count on them for continuous effort. Additionally there is a considerable amount of work that goes into having a studio rental. You need to get the space prepped for what they need, coordinate with them on a date and time that works, and meet them on site to get them in and let them know details about the space and building.

Before you get started here are some tips for a good listing.

1. High-Quality Photos:

   • Upload high-resolution images that showcase the entire studio space.

   • Include a variety of photos, capturing different angles, features, and setups.

   • Showcase any unique or standout elements in your studio.

2. Detailed Description:

   • Write a clear and detailed description of your studio, highlighting its features, amenities, and any special attributes.

   • Include information about the size of the space, available equipment, and any additional services you offer.

3. Accurate Capacity Information:

   • Clearly state the maximum capacity of your studio to avoid any misunderstandings.

   • Specify if there are different capacities for various types of events or setups.

4. Flexible Booking Options:

   • Offer flexible booking options such as hourly, half-day, or full-day rates to accommodate different needs.

   • Clearly communicate any overtime policies and associated costs.

5. Amenities and Features:

   • List all amenities and features available in your studio, including equipment, lighting, sound systems, and any other notable offerings.

   • Highlight any unique features that set your studio apart from others.

6. Clear House Rules:

   • Establish and communicate clear house rules to ensure a smooth rental experience.

   • Include policies on noise levels, smoking, pets, and any other relevant guidelines.

7. Location Details:

   • Provide information about the location of your studio, including nearby public transportation, parking options, and any notable landmarks or attractions.

8. Responsive Communication:

   • Respond promptly to inquiries and messages from potential renters.

   • Be proactive in addressing questions and concerns to build trust with potential renters.

9. Client Reviews:

   • Encourage previous clients to leave positive reviews on your Peerspace listing.

   • Also, respond to any reviews, whether positive or negative.

10. Up-to-Date Calendar:

    • Keep your Peerspace calendar up to date to reflect the studio’s availability accurately.

    • This helps potential renters plan their events and reduces unnecessary inquiries for unavailable dates.

Reach out to us with any questions or comments!