Home-Based Business Owners: Upsize for Growth
Whether you're a small business owner who entertains clients in their home office or one of the 1,400 people joining AirBnB each month to rent out a spare room, you probably have dreams of growth. Perhaps you want a dedicated meeting space or dream of making the leap to having a true B&B with multiple guest rooms. Upsizing your living space could help you meet those goals.
A Bigger Home Can Give You a True Home Office
Moving into a bigger home could give you space to separate your personal and professional life. Instead of entertaining clients in your living room, you can welcome them in a dedicated study, creating a more polished and professional impression. A dedicated space will look professional for zoom meetings too. Get a space with an attached granny flat, and your Airbnb guests can have a separate entrance — giving them, and you, more privacy.
Of course, moving home may create some upheaval, so it's a good idea to do your homework first. Once you've found the perfect Garden City property, look for a moving company that can pack and transport your belongings safely. You'll want to make sure your home office equipment and family heirlooms get to your new house in one piece, so check for “local movers near me”by doing searches online and then read reviews online. While you're researching their reputations you might get lucky and find some great removal company deals or discounts.
Check Whether Your Home's Insurance Covers Your Business
Many homeowners forget to confirm what their home insurance covers. In most cases, homeowners' insurance covers the physical structure of the property and also insures against burglary or against injuries that occur on the property. Standard packages don't offer a home warranty that covers breakdowns to the heating/cooling, plumbing, or electrical systems. Investing in additional home repair cover can give you peace of mind that if there's a breakdown, you'll get it fixed quickly and without being out of pocket.
Standard home insurance policies also don't cover business activities on the property. In fact, running a business from home without telling your home insurance provider could void the policy, so when you've found your new Garden City home, take this chance to update your insurance policy.
Get Your Paperwork in Order as You Grow
Liability is something every business owner should think about. If you're running a business from your home you'll want to make sure the business and your own property are properly separated. Forming an LLC is one way to achieve this. You can use a formation service to do it, saving money on lawyer fees, and unlocking the tax advantages of having an LLC. Each state has different regulations when it comes to forming an LLC, so check the rules in your state before you start.
Get Things Right in Your New Home
Moving home can be a chance to run your business more professionally and help it grow to the next level, giving you more space for work and more privacy in your home life. Check out Beta Abstract for help with title and closing services for your move, and be sure to research other providers such as removals, insurance and company formations services to get your business journey off on the right foot.
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