Starting a Business While Moving - How to Make It Happen
Starting a Business While Moving: How to Make It Happen
by Julia Merrill
Many people dream of launching their first home-based business but can’t move forward because their current house isn’t ideal for that purpose. Luckily, by relocating, you may be able to achieve your goal of becoming an entrepreneur. While starting a business while moving isn’t necessarily easy, it’s possible if you have a good strategy. Here’s how to make it happen, as shared by 207 Prime Properties.
Managing the Home Buying Process
Usually, the first thing you’ll need to do is find a new home. While you want to factor in your personal needs, you also want to consider what your business requires. For example, a separate home office is a common necessity. Extra storage for products could be a must, as well as a separate entrance for client visits, ensuring they don’t have to walk through your living areas for meetings.
Spend some time reflecting on how you’d like the business to run. Then, consider how those needs could change if your company grows. By doing that, you can determine what your house has to provide to support future expansions, ensuring you can find a property that will meet your needs today and into the future.
Also, make sure to check local home-based business regulations before you choose a city or county. The rules can vary by location, and you don’t want to end up in an area where operating your type of company out of your house isn’t allowed.
If you have a tighter budget, you could purchase a home as-is. With this approach, you don’t ask for contingencies relating to the property’s condition. Instead, you’ll have to handle any repairs or issues that the home inspection reveals. Just make sure that you consult with a lawyer, schedule a home appraisal, conduct a title search, and examine land records for any red flags before you go this direction.
Setting Yourself Up for a Successful Move
In most cases, it takes around 56 days to close on a house. You can use that time to prepare for the move. If you’re using a full-service moving company, start gathering quotes right away. Then, you’ll be able to prepare for that expense.
If you’re doing a DIY move, begin packing boxes immediately. Start with non-essentials, like out-of-season clothing or home décor that’s purely aesthetic. Then, work your way toward more critical items, leaving you with just your daily-use stuff in the days right before your move.
Improve Your Business Skills
As you get ready to launch your business, you may want to sharpen your business skills. Many entrepreneurs don’t have formal education in business. While some may feel that the trial by fire approach is fine, it could leave you vulnerable to mistakes.
By heading back to school and signing up for an online MBA program, you’ll be able to improve your business acumen. You’ll learn about business management, communications, and operations, as well as hone your leadership skills. Plus, by choosing an online program, you can learn at your own pace, making it easier to fit in while you’re launching a company and moving.
Getting Ready to Start Your Company
When it comes to forming your company, consider going with an LLC. You’ll limit your liability while maintaining flexibility. Plus, there’s usually less paperwork, and there can be tax advantages. You can also avoid the need for paying an attorney by using a formation service or filing yourself. If you go that route, check local regulations before you begin, as they do vary by state.