Taking the leap from having a home business to having a separate physical location can be huge for your business. It can also, however, be dangerous. If you want your business to succeed, you’ll need to keep the four factors below in mind.
Figure out Construction Costs
If you’re moving into a physical space, there’s a good chance you’re going to have to look at building costs. From full construction that will require knowing more about the cost of heavy equipment rental, like those offered by Eilbeck Cranes, to remodeling that will require the help of contractors, it’s going to be up to you to foot the bill. Make sure you have a good idea of what kind of space you need so that you can be prepared for the costs of construction.
Running a business out of your home generally means flying under the radar. When you decide to take your business to a brick and mortar location, you’ll be dealing with much more red tape. Try to figure out if there’s anything that you should’ve been doing from home that you’ve been able to skip and see how your locality deals with businesses like yours. This often means spending more money to stay on the right side of the law, but it’s worth it to stay on the straight and narrow. If you’re not sure what you’ll need from a legal standpoint, but sure to contact a good business lawyer.
Once you’ve got the planning out of the way, you’ll need to figure out where your business goes. As a home business, you probably spent most of your time either shipping goods out to customers or meeting them at a third location. When you have a business, you’ll need to be in a place where customers or clients can find you. Take a little time to figure out where your ideal clientele lives and shops in order to get the most foot traffic. Location will play a huge role in determining your success.
Finally, try to remember that you’re going to have to start worrying much more about overhead than you did when working from home. While you’ve probably figured out that you’ll need to pay for space, you might have forgotten about smaller bills like utilities or even internet service. These costs can add up, so make sure you factor them into your budget from day one. If you are in a position where these costs are going to take a huge toll on your business, you might not be ready to move as quickly as you thought.
Moving your business to a brick and mortar location can be successful if you plan well. Take some time to look over these tips and figure out how they apply to you. The better you plan, the better your move will be for your business.