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How can you get your business ahead within a rental economy? Do you have a spare room that you’re not sure what to do with? Is there a clause in your office rental contract that allows you to sublet?
In this podcast episode, Joe Sanok speaks about the new rental economy with Iggy Fanlo.
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Meet Iggy Fanlo
Iggy Fanlo is an entrepreneur and the founder of two companies, Vansanity and Cloudmedspas. Cloudmedspas empowers both aesthetic providers and medspa owners through an innovative approach that’s reshaping the entire industry.
Visit Vansanity and Cloudmedspas. Listen to their podcast.
- Iggy’s projections for the rental economy
- How to get ahead
- How to rent correctly and ethically
- Iggy’s advice to private practitioners
Iggy’s projections for the rental economy
The entire world has shifted and become accustomed to using rental services. Consider Airbnb, renting a car, even renting kitchens, Doordash, Uber … All these businesses and sectors that are designed to provide a service for a small fee.
This capability of; “I want to have my own situation … I want to have control of the outcomes. I want to have independence and flexibility as both a consumer and as an employee”, and these are the trends [I’m seeing]. (Iggy Fanlo)
With renting, you can be in the gig economy and work alongside the big dogs without having to be as established as they are. With renting, it’s an easier way to get started with less and get progress moving in your business.
How to get ahead
Iggy recommends that you can get ahead by leveraging the rental economy as an owner. If you are an owner – or you want to be an owner – you can use your asset as a tool to bring in some more income for you.
I think the better thing is to say, “How do I leverage the rental economy for my outcome?” So, I do want to have my place … But if I have two or three rooms, I don’t need to hire employees, that’s another expense. I need to say, “Hey, let me use a platform like Cloudmedspas to let other gig economy workers or other independent entrepreneurs run their business [here] by renting out a room.” (Iggy Fanlo)
Working with different service providers to help you make the most of what you do can help you to boost your income.
How to rent correctly and ethically
- Work with an experienced provider or service that can help you to rent according to the law
- If you are renting an office space yourself, there might be some sublet options available that you can use to further rent and share the space with other professionals which can help to cut your costs
- Create an aesthetic space that is both welcoming yet neutral
[Make] it feel somewhere, I’d say, halfway between a four season’s spa and a hospital. It has to have the attributes of cleanliness and [sterility] that people feel that this is a clean space … And yet at the same time, has some touches of warmth. (Iggy Fanlo)
Iggy’s advice to private practitioners
The rental market is huge at the moment, and probably for the long run. If you have the capacity and the desire, consider being a participant! It brings you income while allowing you to provide space for accessible medical care to be offered by other practitioners.
Sponsors Mentioned in this episode:
- Trust me, don’t waste any more of your time, and try TherapyNotes.
- Check out Mentaya
- Level Up Your Business!
Useful links mentioned in this episode:
- Visit Vansanity and Cloudmedspas. Listen to their podcast.
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Email Joe at [email protected] to suggest guests for the show
Check out these additional resources:
What Do I Want to Be When I Grow Up, Redefining Your Career with Greg Martin | POP 962
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Meet Joe Sanok
Joe Sanok helps counselors to create thriving practices that are the envy of other counselors. He has helped counselors to grow their businesses by 50-500% and is proud of all the private practice owners who are growing their income, influence, and impact on the world. Click here to explore consulting with Joe.
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