It’s possible that you inherited a warehouse from a deceased relative, or perhaps previously operated a storage facility but the industry it caters to no longer exists. Maybe you’re feeling unmotivated lately and you want to try something new where you can also earn an extra income. We could posit the many possible ways one could end up owning an empty warehouse, but it would be more interesting to talk about how much potential an empty warehouse can possess. There are a lot of ways for one to earn from an empty warehouse, so let’s tackle of few of them that could help you, the owner, capitalize on this property:
Leasing it to Another Company
Perhaps the quickest and most obvious way to earn from your empty warehouse is to lease it to a company. Many industries can make use of large open spaces, such as manufacturing firms, beer breweries, or even storage, logistics, or distribution companies. You have to make sure that your warehouse is still structurally sound and it wouldn’t hurt to perform a maintenance check on its structure, wirings, and plumbing before you advertise it for lease.
With a few tweaks, maintenance jobs, and some paint, you can turn your empty warehouse into an events center to host training, organic market fairs, concerts, art exhibit, indoor sporting events, or any other event you can think of. This works best if your warehouse is located somewhere convenient and has ample parking space. You can opt to advertise your warehouse-turned-event center, or talk directly or partner with event organizers.
Turn it into a Recycling Facility
Recycling and waste management facilities are quite lucrative. If there are big commercial establishments and factories near you, having a recycling facility could be a potential goldmine.
Establish a Storage Unit Center
You can construct storage spaces for rent inside your empty warehouse. The mere fact that it’s situated inside a warehouse makes it appear safer than usual storage units that are out in the open.
Coworking areas have become quite popular recently, especially among busy young professionals. So opening a coworking space might be the right business idea.
Flea Market or Marketplace
A few stalls, improved wirings, and better ventilation can turn your warehouse into a viable marketplace or flea market. Craftsmen, farmers, retailers, and all other types of people in business can rent a space or stall inside your warehouse-turned-market.
Gaming, Sports, and Entertainment Center
You can convert your warehouse into an indoor gaming center. There are a plethora of options for you to choose from, such as paintball, laser tag, badminton, or even a bowling alley. You can even use a portion of it as a gym or spa center. Having a karaoke area with a bar inside your warehouse, or having a string of bars and restaurants inside can also turn your empty warehouse into a known nightlife hotspot in your city.
If your empty warehouse is adjacent to a mall or events center, turning it into a paid parking lot can be a low-maintenance but high-income business.
An empty warehouse holds a lot of potentials, and these possible businesses and methods to earn from the property are a testament to such a statement. But it doesn’t stop there, when you put your mind to it, you can make use of many empty or derelict buildings and structures around your city and convert it into a goldmine, you need to have the right idea and follow through with proper execution.