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A Guide to Starting a Business and Moving at the Same Time

A Guide to Starting a Business and Moving at the Same Time

Striking a work-life balance is difficult when you operate your business from home. It's important to have an environment that promotes efficient productivity. For this reason, it can be worth your while to make the move to a new home if you've found that your current space is working against your business. If you're only just starting a new business, the last thing you need on your plate is the burden of house-hunting and moving. Keeping some helpful tips in mind will make the process much less wearisome.

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Home-Buying Essentials

There are some key features to look for in a home that will serve as both your residence and workplace. The first step is to make a checklist of what you need from your upcoming home-to-be. With the help of online tools and a reputable realtor in your area, it will be easy to efficiently review home prices before making a decision. Understanding mortgage loans is a more complicated matter but one which a financially minded small business owner will have an advantage in preparing for. For those who aren't entirely sure what to look for in creating a productive workspace in a home, there are some essential features to consider:
An extra room for home office use
Plenty of natural light
Storage space
Affordable high-speed internet in the area

Even if you find a home with the ideal office space, you may still have to make some modifications and fixes which should be factored into your budget. For example, if there’s damage to the roof, you’ll have to bring in a roofer to make repairs. Find ratings and read reviews by searching for “roofer near me.” Make sure you hire a certified and insured roofing company for this project.

Moving Tips

The relocation process can put a real damper on a blossoming business. Time spent house-hunting, packing, traveling, and unpacking is time that could be spent establishing clients or moving products. Staying organized is the most important thing for ensuring that a move goes smoothly. While they may seem like common sense trivialities, things like labeling boxes and scheduling meticulously should not be underestimated. You will save yourself a lot of frustration by ensuring that you can resume business as usual ASAP.

Business Planning Considerations

The first steps to launching a home-based business include writing a detailed business plan and setting short-term and long-term goals. Financing your business can be an ordeal if you've recently moved into a new living space for the sake of conducting your work, though statistics show that most home-based businesses cost under $5,000 to start. Consider researching loans and other funding options that apply to your particular business. There's no shame in starting small, as a well-laid business plan will help you scale up as success comes your way.

DBA Decisions

A final consideration that small business owners should make is the creation of a DBA name. A "doing business as" is a name for your business entity other than your own legal name. This gives you the ability to operate under a fictitious name that may be more suitable to the service you offer, or it could be helpful in differentiating between multiple products or services. It should be noted, however, that a DBA is little more than a name and will not provide legal protections in the same way an LLC would. The DBA filing process is specific to your state, so some additional research may be required for your specific situation.

Managing a sole proprietorship from the comfort of one's own home is easier said than done. It's not at all unreasonable to come to the conclusion that your current space just isn't suitable for both living and working. Taking on the challenge of launching a business and moving at the same time is difficult, but working in a fitting environment can provide a strong sense of empowerment.

Updated on: 01/17/2024

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