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With inflation, it makes sense to start thinking about how you can make extra money. However, starting a side hustle often requires unused space. The garage may just be the solution. However, how to make money with your garage?
To make money with your garage, you can use it as a base to run a business or a side hustle. You can also rent your garage as a living, working, or storage space. You can also sell the things inside your garage by having a garage sale.
If you are thinking about how to make money with your garage, read on. We share some tips on turning your garage into a money-making machine.
How To Make Money With Your Garage?
You can make money from your garage by renting it as a parking or storage space. You can also repurpose the extra space into living or event spaces for rent. If you have tools in your garage, rent them out. You can also use it to run your own business.
The humble garage has been the cradle of innovation in America. Many big companies today started off from the garage. This means your garage can definitely help you generate some extra income.
Rent It as Parking Space
Americans are buying cars, a lot of cars. This also means they may not have space to park them. This is an opportunity for you.
You can use many websites to rent out your garage or driveway for people who commute nearby. The websites should tell you the going rate for your living area.
If you live near major business hubs or public transport stations, you may be able to rent out at a higher rate. Some people may rent your garage to park their car, so they walk shorter distances to the commuter trains.
Rent It as Storage Space
Suppose you prefer not to have people parking their cars in your garage. In that case, consider renting it out for storage, and generate some passive income. This should be a great source of monthly income.
People often look to store things they do not access daily, so you would not see your tenants too much. Just ensure their things are stored properly in storage containers.
Check for websites that can help you market your space. They should be able to help you with the contractual work too. If you prefer to do it all on your own, Craigslist may be a great place to start.
Convert Part or All of Your Garage to Living Space for Rent
If you enjoy hosting visitors or having tenants around, you can rent your garage as living space. This may be a very attractive option if you live in a university township or near a commuter station.
You must invest money first to convert unused garage spaces into livable ones. Upgrades may include adding insulation, heating, and aircon. However, the steady rental and passive income might be worth the investment.
Read More: How to Convert Garage Into A Room
Rent Out Your Machines and Tools
If you have tools, you can consider renting them out. This is a perfect option if you have expensive, bulky tools that people may not really buy. You can advertise your service on local news boards or Craigslist.
Ensure you prepare the rental contract properly to ensure your liabilities are covered. You do not want to end up having to spend thousands on legal fees later.
Rent Garage Out as Pop-up Venue
If you live in a housing area with a decent population, consider throwing a pop-up event. Call up a few food trucks to shop at your garage and driveway, and have benches lined up for people to sit and dine.
Call in local bands to perform and artists to showcase their work. You can also throw a big screen and show games to attract the crowd. Sell tickets to attendees, and make your money.
If these options don’t work, have event companies do the job; just tend out your garage space instead.
Set Up A Workshop For Your Hobby
If you have a money-making hobby or skill. You could sell your expertise online or on market stalls. These could be woodworking, handicraft work, or auto repairs. You may have a real opportunity here.
You can market your services on a local bulletin board. You’ll be surprised at how people would gladly purchase something from you since you live in the same town.
What Small Businesses Can I Start in A Garage?
Your garage can be a real place for a business opportunity. There are many small, profitable businesses you can start in a garage, including:
- Technician work
- Tutoring and classes
- Handicraft work
There are many garage business ideas you can take for yours. You can start all kinds of businesses depending on your skills and abilities. Check out these business ideas to get you thinking:
Electrical Appliance Repairing: Can repair electrical goods, and good at soldering? Consider starting a repair shop in your garage.
Computer Repairing: Good at troubleshooting computer issues? Charge lower than service centers, and see orders flooding through your doors.
Smartphone Repairing: If you have the skills, phone repair from your garage can be a successful business. You can also take a course to learn this.
Car Mechanic/ Boat Repair Business: Suppose you can perform auto and boat repairs and have the tools. In this case, consider starting a workshop at your garage. You should be able to at least change oils and other consumables.
Bicycle Repairing: More people are riding bikes these days. Why not service and repair their bikes? This may be a good income source close to the warmer months.
Car Washing/Detailing: If it’s allowed in your local area, start a service to wash cars. This is a relatively simple business to start, and it helps you make income quickly.
Courier Business: Suppose you have a team of people and can organize it effectively. In this case, help to deliver parcels or documents within your local area.
Pet Grooming: If you have the skill to groom your pet, why not offer it to others? You can also sell pet-related supplies.
Massage Shop: There is a good demand for professional massage therapists.
Daycare: Help watch the children from your neighborhood for quick income. However, Ensure you follow all required laws before opening a daycare in your garage. There are strict requirements for operating a daycare.
Laundry/Ironing Service: Invest in a large washer and dryer. Then offer it to those looking to watch rugs and bigger linens. Offer ironing service for a more complete package.
Barber: Able to cut hair? Start your own barber business in your garage. All it takes is a barber chair, a kit, and a mirror.
Recycling Business: Turn your garage into a recyclable items collection station. Deliver them to the local center, and make some profit. You’ll be surprised how a simple recycling business can make you.
Bookkeeping: Good with numbers? Have some experience in bookkeeping? Offer your service. You should be quite worked up during the tax season. You can also turn it into an online business.
Photography Studio: A photo studio requires a large space, lighting, and other equipment. Set up a studio in your garage, and rent the space to aspiring photographers. You can also take your own photos.
Meal Preparation Business: Cook meals for the families in your neighborhood, and deliver them every afternoon. You can also add in a cake business and sell baked food.
Tutoring & Classes
Fitness/Personal Training: Start small with a garage gym or other fitness equipment. Offer to supervise training and advice on nutrition. Just make sure your garage is up to the job.
Tutoring Business: Every parent seeks the best tutors to teach their kids. If you are good at a subject, consider starting a tutoring business. You can also teach online. Common subjects include foreign languages, math, English, and science.
Music Tutoring: The garage is a great place to conduct music classes. It has space for many instruments, and you don’t have to rent other space. Just make sure you don’t disturb your neighbors too much.
Dance/Yoga Studio: Convert your garage to a dance and yoga studio if you have the skills. Lay some mirrors and use removable floor pieces. You should be able to get your neighbors to start with your classes.
Craft Classes: Parents are looking for things to occupy their children’s time. Why don’t you organize craft classes for these children after school? The parents will thank you for it.
Youtube/ Content Studio: The garage is a great space to set up a Youtube studio. Pick a topic you’re passionate about and knowledgeable about. Start a channel on Youtube, and share your passion with the world.
Knitting/Sewing Services: If you are handy with a sewing machine, offer your service. Help your neighbors to repair and patch their clothing.
Florist: Good with arranging flowers? Use your garage to create flower products to sell. You should sell well during school prom or Valentine’s season.
Sell Antique and Other Collectibles: Have a keen eye on antiques? The garage is a great place to show antiques and rare stuff to customers.
Woodworking Business: Have good woodworking skills? Build furniture and sell them. You could also just assemble other people’s furniture. You’ll be surprised how clueless people are about installing basic IKEA furniture.
Small-Scale Manufacturing: It can be almost anything. Toys, T-shirts. Clothes, custom stuff, etc. Requires some investment to start.
Craft Business: Make homemade and handcrafted stuff, and sell them on Etsy. These could be soap, stickers, jewelry, and a lot more. A greeting card business is also a good idea.
3D Printing Business: Have a 3D printer, print out something, and sell them. You can also take in orders and print out custom parts. Requires investment and skills.
Can I Run Business Out of My Garage?
Generally, you can run your business out of your garage. The key is to check the licensing and requirements with your local authorities. Different businesses and localities may have different rules.
Generally, you can start a business from a garage. In fact, many successful businesses grew out of a garage!
However, start by choosing a business that fits in your garage. Ensure you have enough space to run it. Then, check with local authorities about setting up businesses in your garage.
This is to ensure you do not run foul with laws. Depending on your location and the business you intend to run, there may be different rules. You must usually register the business and comply with health and safety rules.
Next, repurpose the garage to your business needs. After that, set up a security system to protect your garage since it is now a business premise.
Read More: How to Convert Garage Into A Room