The BBC asked Hire Space to carry out research into the school lettings market for a report that will be broadcast this evening on BBC London radio and television.
By surveying 100 schools in London and using data from its own website, Hire Space estimates the school events letting market is worth £4.5 million a year.
That figure could rise to £9 million a year if all schools manage their lettings though efficient marketing and a dedicated events manager.
Hire Space estimates event bookings make up 30% of all school lettings. This figure is rising, according to Reuben Sagar, marketing director of Hire Space: "There is already an established market for sports hire of school venues but schools are now reaching event clients that they couldn’t reach before through improved marketing techniques," he said.
The research found the average school that manages its lettings well earns £45,000 a year from event bookings, out of a total of £150,000 per year from all lettings.
Hire Space’s research found 64% of London secondary schools with more than 600 pupils let their premises, but only 14% of them have an event manager and a marketing strategy.
The news report will be broadcast at 5pm on BBC London radio and 6.30pm on BBC London news.
Hire Space featured in Event's What's Hot section in the September issue. The website allows organisers to book and pay for spaces online, and venues to list their spaces for free.
Do schools make good event venues? Can they afford to have their own events managers? Comment below and let us know what you think.
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