Offices that do not have separate meeting room hire meeting rooms from other business organizations. Renting out meeting rooms helps to develop a healthy relationship with other businesses. To expand your reach you should rent your meeting rooms not only to inside members but also to outsiders. Outsiders hiring your meeting room will act as a source of revenue for your office as well as will provide free advertisement to others as well through word of mouth. This will you to enrich your community experience. It may be possible that business houses may take permanent membership in your meeting rooms.
The basis to price meeting rooms
- A realistic approach to the market: Humans have the tendency to think that the things they possess are unique from others. Due to their emotions they end up pricing their thing way above the market standards which may be harmful to your business. Hence, it is necessary to have a realistic approach as per market standards.
- Competitive environment: If you are a sole entity that rents out a meeting room than the pricing may not matter but if there are other tenants than it may affect your business. It is advisable that you check the amount your competitors are charging.
- Supply & demand: The demand and supply pricing strategy applies here as well. If there is a high demand for your office then you do not have to price them aggressively.
Factors to be considered while renting meeting rooms
- Ambiance: Neither are the meeting rooms nor are the meetings you host similar to each other. Hence, it is necessary that you rent a meeting room that complements the nature of the agenda.
- Facilities offered: When hiring meeting rooms, look for amenities provided for holding meetings. See whether they are offering Wi-Fi, speakers, projectors, etc.
- Cost: Cost is another factor that plays a major role in selecting the meeting room. Compare the Meeting room price [ราคา เก้าอี้ ห้อง ประชุม, which is the term in Thai] with industry standards.