How Upsizing Your Home Can Help Grow Your Business
Starting a business is an exciting experience. But when your business begins to
grow, it may be time to upsize your home to accommodate your growing needs.
We have compiled a list of tips and tricks that will help make this transition
Research Home Trends
The first step in upsizing your home for your business is researching home
trends and median sales prices in the neighborhoods you are interested in. This
will give you an idea of what kind of budget you will need to work with as well as
what type of homes are available. You can also use online resources such as real
estate websites or local newspapers to find out more information about the area.
When you’re ready to start viewing properties, begin your search with the experts
at The George Woods Team!
Home Requirements to Successfully Run Your Business
Once you have determined where you want to move, it is important to determine
what your new home will require to successfully run your business. Will you need
a dedicated office space? What kind of internet connection will you require?
Make sure that your new home can accommodate the needs of your business
before signing a lease or making an offer.
Invest In a Home Warranty
When upsizing your home for your business, it is important to invest in a home
warranty that covers any potential repairs or maintenance issues. This will
protect your business from any unexpected costs or delays due to a
malfunctioning appliance or faulty wiring. This will help shield you financially if
something does go wrong with the house while running your business from
Register Your Business as an LLC
Consider registering your business as an LLC (limited liability company) before
moving into a larger home. This will help protect your personal assets in case of
any legal issues or disputes that may arise while running the business from your
new home. This will provide legal protection against personal liability if
something goes wrong with the company while operating from the new property
which can be invaluable depending on the size of the operation.
Set Up a Home Office
Setting up a dedicated office space within the new larger home is essential when
upsizing a growing business. Having adequate space to organize and store
important documents, files, and other items will help keep the business running
smoothly. Making sure to have enough electrical outlets for various pieces of
equipment or devices is also important.
Earn an Online Business Degree
Investing in yourself by going back to school for a business degree could be the
best decision you make. Not only will having a degree prepare you with advanced
courses focusing on business skills, but it can also open doors to potential
career prospects and even salary growth. It’s important to take a look at what
courses of study are available that fit your busy schedule. Gaining knowledge
and understanding through courses such as economics, finance, accounting,
marketing, and statistics could boost your future opportunities in the world of
Keep Your Business Running Smoothly While You Move
Upsizing one’s premises requires some planning ahead so that current
operations don’t suffer. It might be worthwhile considering hiring temporary staff
members who could cover the workload during the transition period itself so that
current operations remain unaffected by the move. Additionally outsourcing
certain tasks (e.g., accounting services) could help free up some time during the
relocation process itself.
Upgrading your home due to the growing needs of your business requires some
preparation — but it also offers many rewards along with new challenges. Start
the process by taking a few steps like researching different areas, setting up a
home office, and going back to school for a business degree.