7 Steps to Move Your Home-Based Business

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According to statistics cited by Oncue, 8.4% of people in the U.S. move every year. There are a wide range of reasons you may relocate, but an increasing number of people are packing up in search of a spot that’s better suited to their home-based business. If this describes you, you might be overwhelmed by the prospect of moving and launching a business at the same time — but this guide from Coldwell Banker Realty can help.

Find the Right Home

You may dream of finding a home with every item on your wishlist, but when you’re house hunting, Finance of America Mortgage notes that you’ll need to set realistic expectations — and priorities. Finding a house that will accommodate your home business is the most important factor. Consider why your current home isn’t working and look for a house that provides the features you need.

Craft a Moving Strategy

Finding a home is just part of the process — you also need to develop a plan for executing your move smoothly. Whether you’re moving a few miles away or across several states, you should create a schedule for packing, driving, and unloading all of your belongings. It can also help to budget for moving expenses such as packing materials and professional help.

Develop Your Business Plan

Creating a plan for your new business is just as important as creating a plan for moving. Draft a document that outlines all of your ideas, the structure you envision, the customers you hope to reach, and the goals you have for revenue.

Figure Out Your Marketing

Marketing is another important aspect of your business plan. Conduct market research in your area to identify what kind of customers you’ll be serving and what kind of products and services they may want. This will give you the information you need to launch an effective, targeted marketing campaign.

Prepare for Trial and Error

Even if you draft a thorough business plan, do market research, and launch a calculated campaign, you should be prepared for some trial and error — especially if this is your first business endeavor. Rather than bemoaning your failures, though, you should view them as a necessary and natural part of the entrepreneurship process.

Consider Starting an LLC

Incorporating or starting an LLC is a great idea for a home-based business. If you want to take advantage of tax breaks, minimal paperwork, more flexibility, and protection of your personal assets, an LLC may be the business structure for you. You can avoid the cost of an attorney by connecting with a formation service, and you can start the process by learning more at Incorporation Guru.

Find a Work-Life Balance

Once you’ve moved into your new home and launched your new business, it’s important to seek a balance between your personal and professional obligations. When you live and work in the same space, lines can get blurred, and your risk of burnout may increase. To avoid this, set clear boundaries and maintain a strict schedule surrounding your business and the rest of your life.

The Right Home Can Help Your Business Thrive

Moving can be stressful, but it can also be a worthwhile endeavor if you’re hoping to launch a home-based business. A home with more room can help you store inventory, for example. Similarly, a designated home office space can help you maintain the boundaries of work-life balance. Consider starting an LLC to protect your business and your assets.

Coldwell Banker Realty connects you to the latest local listing information, comprehensive neighborhood data and local market experts who understand what it takes to help you reach your real estate goals. Contact Susan De Leon, Realtor®