When It’s Time to Go Big: Benefits of Relocating To Expand Your Home-Based Business
Photo by Pexels
If the size of your house is the only thing that's stopping you from launching a home-based business, it might be time to start thinking about moving up to a larger home. While a bigger house might be more of an expense, keep in mind that the U.S. Internal Revenue Service allows you to deduct costs associated with running a home-based business and utilizing a home office.
Crunch numbers in advance, and you might find these tax breaks actually allow you more buying power than you’d normally consider. You also have the option of a business rental space.
What To Look For
Running a prosperous small business from a home office isn't just a matter of setting up a computer in a spare bedroom. If you're moving from one house to another to accommodate your growing operation, consider the amenities you’ll need to make your business successful.
For example, if you have young children or pets, you might want a home that has office space located in an out-of-the-way area where you’re less likely to be disturbed by everyday household noises. If customers or clients will visit you, having adequate parking and an outside entrance into your office can be beneficial.
If you're working with a real estate agent, let them know the specifics of what you're looking for so they can help you find an appropriate property. Your agent will also be able to walk you through the process of selling your home, from making any repairs to saving money on the sale to choosing the right time to list to managing offers.
Timing Your Move
If you're trying to launch a business and move into a new residence at the same time, well-coordinated planning and a lot of organization can help ensure it's a smooth transition. Your home office and business supplies and equipment should be the last things you pack in your current home and the first things you unpack and set up in your new location.
Mark boxes appropriately, and keep critical files with you throughout the move to ensure nothing gets lost or misplaced. Consider enlisting the help of packers and movers to make the process more streamlined and give you time to quickly get your office established and your business running.
Setting Up Your Office
If you have a home office you work in occasionally while traveling back-and-forth to an outside home base, you don't need too many special amenities. However, when your home office is the headquarters for your business, you’ll want to make sure it fits all of your specific needs.
For example, you may need meeting space, extra storage, a conference line, or a room that can be insulated against outside and ambient noise. Other essentials might include a large whiteboard for project tracking and brainstorming, work and task lighting, and a large enough desk to accommodate multiple screens and adequate work surface. You may even want room for a comfy couch or chair. As a small business owner, you're likely to spend a lot of time in your office, so it should feel comfortable and inviting.
Getting Your Business Off The Ground
Once you're settled into your new home and have your office up and running, it's time to handle outstanding details like registering your business and focusing on promotion to start building your client base.
If you have yet to file your business with the state, now is the time. Find out how to start a S Corp or LLC through a formation service to expedite the process. After you’ve got your registration handled, you can then turn your attention to marketing your business. Marketing, customer service, and business savvy are all essential to ensuring a small operation is a successful one.
Moving and launching a business are two of life's most exciting challenges. Doing them at the same time takes some careful timing and coordination, but it’s ultimately a viable way to make a positive change in your life. Adding in personal development in the form of education can also help you hone your business skills and give you new insights into impactful business strategizing techniques.
If you want to avoid paying a 6% commission to sell your Ohio home, look to CommonCents. We can help you save thousands of dollars, as well as simplify the process. Reach out today to find out more!