Is it time to move your business out of your home? Here’s what you will need.
I’ve got a home business that isn’t likely to need to be moved anywhere else (unless I’m on vacation or something). However, there are plenty of home business owners who end up getting to the point that it becomes necessary to move out of the home office and into a different facility. My friend Steve and his wife Jen started a handkerchief business in their home, but then expanded the operation to the point that they needed to move out of the home. I know others who have started businesses, from catering to hair styling, in their homes but then who had to move to different facilities.
If you decide it’s time to move your business out of your home, here some things to consider:
1. Do You Have a Point-of-Sale System?
When you handle all of your sales through a website, using an ecommerce plugin, there really isn’t a need for a point-of-sale system. Once you start offering a brick-and-mortar storefront, things change. You need a system that allows customers to complete a transaction on site. A system like TouchSuite can help you manage your information and process payment, and integrate with your Quickbooks so that everything works seamlessly with your current accounting.
Some of the newer point-of-sale systems can integrate with digital wallets as well as accept credit and debit cards (and cash, of course). Consider what is best for your situation, and what your clients are likely to use.
2. Is the Space Right for What You Need?
Choosing a good space to lease (or buy) is a major consideration. What type of space is available? Does it fit your needs? The needs of a caterer are different from the needs of a manicurist. Make sure that there is adequate space for the type of business you offer. Whether you are stocking a store, opening a restaurant, or running a spa, you want to make sure that the space is right for what you need.
If you have a small staff, and you aren’t ready to lease or buy a space on your own, it can make sense to try coworking, if you have the right type of business. Another friend of mine, who created homemade jams for sale, ended up sharing kitchen space with another business. She didn’t have enough space in her home once the orders started pouring in, but she also wasn’t to the point of being able to manage a storefront or entire facility. Pay attention to your current needs, and look for creative solutions to help you get what you need out of your space.
3. Can You Hire Reliable Employees?
Chances are that you will need to hire employees when you move your business out of your home. In fact, one of the reasons that you might be moving your business is so that you can hire more people without having them come to your home.
This can be one of the more difficult aspects of moving your business because you often need to offer benefits if you want high-quality employees. There are also a host of tax issues that you need to be prepared for. As you begin moving your business, think about the other implications that come with it.
You also need to figure out how much you trust others to run your business while you are gone. You probably won’t want to be at your storefront the whole time that it’s open. Figure out who you can trust, and then learn to delegate some of your tasks. For many home business owners, it is difficult to learn to let go and trust others, but it is an important part of success.
What else do you need when moving your business out of your home?