Steps to Upsizing Your Home and Launching Your Business
If you’re planning to launch a home-based business, you need plenty of space for storage and operations. What if your current home doesn’t have enough square footage for your entrepreneurial dreams? It’s time to upsize and move to a bigger property! With the support of Vu Media Lab, you can expand your online business once you’ve settled in. Here’s how to house hunt for the sake of your business.
Finding the Right Property at the Right Price
Before you begin looking at homes, you need to get in touch with a real estate agent who grasps your specific needs as a business owner. If you’re looking for a home with your new business in mind, what features should you prioritize? ZDNet recommends choosing a home where you’ll have room for a private home office - but try not to go overboard when it comes to space. If you purchase a home that’s too large, you might end up filling it with clutter.
As an aspiring entrepreneur, you don’t want to sink all of your money into your new home. Instead, you want to make sure that you still have a sizable emergency fund left after your home purchase, as well as plenty of funds to cover your startup costs. Chances are, you’ll want to look at properties in a lower price range so that you can avoid stretching your finances during your first few months of business ownership.
You may want to look into purchasing a condo or townhome rather than a freestanding house in order to save on monthly payments. Alternatively, you could think about buying a home “as is.” But if you’re going to buy a home “as is,” don’t forget to look beyond the low price and consider potential renovation costs that could crop up down the line. Take time to speak with a lawyer about the property first, and then make sure to inspect the property carefully and browse the land records to check for red flags.
Set Up Your Workspace for Your Big Launch
You’ve moved into your new home, and now, you can design your home office with the right furniture and decor. You’ll definitely need a spacious desk and a comfortable, ergonomic chair. If you're making physical products at home or creating art, you’re going to need a designated workspace where you can get messy! Setting up your personal workshop can be a lot of fun. The Created Home recommends putting a workbench or table in your garage with storage solutions so that you can keep all of your supplies organized. You may want to build some floating storage shelves! You can also put in a space heater if you’ll be working out in your garage.
Once you’ve established your workspace, you can move forward with your business launch. After drawing up a business plan, you’ll need to launch your website, open a business bank account, and create social media profiles for your company. If you plan to hire any staff or contractors early on, you will need to create job postings, share them on popular job search platforms, and decide which communication and project management tools you want to use within your business. Soon, you’ll be ready to get the ball rolling and start your new chapter as an entrepreneur!
Starting a home-based business can change your professional trajectory. By pursuing entrepreneurship from home, you can go from commuting to an office to making your own schedule! With this guide, you’ll be able to buy a home where your business has room to grow.
Ready to invest in your marketing strategy? Turn to Vu Media Lab to boost your online presence! Fill out the contact form on our website today to request our services.
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