Is a Home Office the Best Idea

Home Office Getting too Crowded

For many new small business owners, a home office makes the most sense. Being able to work from home is an appealing concept for women today. The cost of starting a business is relatively low and women can feel more fulfilled knowing all the hours they put into work are to build their own business instead of someone else’s.More than 60 per cent of people who start a business are now doing so from home. From fashion design, IT and catering through pet care and arts/crafts to accountancy and legal services – you name it – it’s being run as a business from someone’s home. Most cities and towns will allow you to run a business out of your home as long as you meet certain criteria. A major benefit of using your home as your business location is that you won't waste any time commuting and you won't incur additional costs to rent an office space. The IRS also offers significant tax deductions for a home office used for your business.

But there is also drawbacks to working out of home. A major drawback of working from home is that you can never truly leave work. Also, many types of businesses aren't suited to a home location. The advantages of moving out of your home office boil down to increased professionalism, more space to work and unlimited growth potential. Of course, with any advantage come a few disadvantages, but nothing that can't be overcome. For some people, the chance to move into commercial premises provides a more professional outlook, greater scope for expansion and the room to accommodate permanent staff. 

For some businesses, such as lawyers,  accountants, insurance brokers, & classes,  most clients either want, or need, to come in for face-to-face appointments. Other businesses, such as advertising firms, may be able to service their clients while hardly ever meeting them in the flesh. Before you move out your home office, read on to learn about the pros, cons, and factors to consider when moving to a retail space. There will be lifestyle and financial changes to your business if you choose to do so. You probably considered these factors when you decided to start a home-based business, but you will have to consider them again. If you can afford the move and want to expand your business to a larger clientele and higher production rates, then moving to a commercial location will definitely accomplish that goal.

Small Space Available For Lease - Classified Ad

Small Space Available For Lease - Classified Ad

A Commercial Address Required For Some Business Licenses

To run your business legally, there are certain federal and state licenses and permits you will need to obtain in order to conduct your operation.

Virtually every business needs some form of license or permit to operate legally. However, licensing and permit requirements vary depending on the type of business you are operating, where it’s located, and what government rules apply.

You can expect to secure the maximum amount of credit available if you set up your business in a commercial office location. A physical location that is zoned for business speaks volumes for your company and its operation.

If you’re determined about having a commercial address but renting office space is out of the question then you may want to consider the following 3 alternatives:

Commercial Address – There are many leasing companies liken Van Nuys Offices that offer you the ability to have a qualified commercial address for your business for the purpose of only receiving mail and packages.
Virtual Office – A good way of saving money and at the same time still maintaining a professional image is to have a virtual office. A virtual office will give you the right impression at a fraction of the cost of having your own office. With a virtual office you have the ability to run your business out of your own home and at the same time building a professional image for your business.
Dedicated Office – You can obtain a complete turn-key office operation which includes a private office with your own phone, fax, internet, full furnishings, meeting room and much more. Some turn-key offices give you the privacy, security and professionalism of a workplace that is not in an open environment or room-share. You will have your own suite number, own mailbox, and your own phone line. You may choose from one single private office or several offices with many options.

 

Why do people start businesses?

Due to the bad economy and not a lot of jobs out there, people are now taking the opportunity to build a business and develop a clientele.  A lot of individuals take the plunge and take advantage of the many opportunities and resources available when starting your own business.

Starting your own business gives you the opportunity to follow a dream or interest. Pursing a passion as a career by starting a business can increase your motivation to work and overall job satisfaction.

Many people like the idea of not being restricted by the rules and regulations of a job. When you have your own business, you set your own hours and come and go as you please. Initially, many owners may need to work more hours per day than a standard job. But when the business is established, they may be able to take time off and hire help to run the business.

To better understand why people start their own business, we asked many new business owners what motivated them to start it.

69% Of them answered "Be my own boss"
20% Of them answered "Follow a dream"
11% Of them answered "For Financial Stability"

It's interesting that the desire not to have a boss is the primary motivator of entrepreneurs because "being one's own boss" appears to be the prime source of entrepreneurs' job satisfaction.

5 Mistakes People do When Renting Their First Office

Renting office space can be complicated because it’s difficult to tell what needs your business will have a year, or five years, into the future. If you’re considering renting office space for your business, it’s necessary for you to understand how the process works. Renting the proper amount of space, in a location that suits the business, sometimes involves making a gamble. Remember, though, that the property owner doesn’t share in this risk-taking, and it won’t be his or her problem if the office turns out not to suit your needs. Below are 5 mistakes that can often be made when renting a new office space, and can be easily prevented:

• Make Sure Premises look Professional: Don't underestimate the value of appearance. Depending on how your office looks is how your customers will see your business. If your office doesn't look professional than chances are your customers won't take your business so seriously. Look for something nice and not expensive. Check out an office from Van Nuys Offices, they have a variety of offices available for any type of business use and their offices have a professional atmosphere.

• Negotiate the Price: Offices in places hard to find offer lower rent prices than those within easy reach of amenities and transportation. Yes maybe this is how much you can pay and all the other offices are off your budget. But will your customers be able to find you. Negotiate the price on an office easy to find. It won't hurt by asking.

• Signing a lease: Signing a lease for renting office space isn’t something to be taken lightly, and it can have serious consequences on the success of your business. Before you sign a lease or agree to rent, make sure you have an attorney in your area look it over to ensure your rights are protected fully and that you understand all clauses and obligations contained within the lease. Van Nuys Offices has a set flexible agreement, so you are never tied into a long term agreement and can change your office space as your business requires.

• Not Verifying Building Mobile Phone Reception: In today’s environment, data, power, networking, and HVAC capacity and availability are crucial. We all experience weak signals on our mobile phones at some times in particular places as we go about our daily lives, but it's a major issue if each and every member of staff has issues making use of cellular devices and smart phones from the work environment. You should ensure that the building you intend on occupying is capable of providing the network connectivity and other building systems necessary for a your business operation before signing any lease.

• Not Designing the New Space Prior to Lease: Many companies fail to consider their future business requirements when looking for office space and they end up outgrowing the office space before the lease is even up. Ensure you have enough space for additional employees or equipment when calculating how much office space you will need.

Five Important Steps to Start Your Own Business

 

Start your own business today

1. WRITE DOWN A BUSINESS PLAN
The main biggest mistakes a young entrepreneur makes is not writing down a business plan. Not only is it a good planning tool, but it also the key element that will help you raise money. Include research into things like how much you can charge for your product/service, how much it will cost to produce or deliver.

2. FIND A LOCATION FOR YOUR BUSINESS
Although the idea of starting your business at home is money saving there is many factors to look at when starting at home. Will the kids interfere? do you have space? If these in fact are going to be a problem. Then go out and look, for an office space. 

3. SIGN A LEASE Ask for a copy of the form lease from your potential landlord. Read it and try to understand it. If you don't understand the legalese, find an attorney. Start-ups should look for flexibility and try to sign as short-term a lease as possible. Understand the details of what you're committing to when signing the lease.

4. MARKET YOUR BUSINESS Even though social networks are essential, don't underestimate the old ways of marketing. Your business is barely kick starting so you need to get the word out, let people know of your business, what products or services you provide. Embrace and use the most effective online tools (Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news.

5. KNOW YOUR COMPETITION Many businesses fail because they underestimate the competition. Often, it is not necessarily the quality of that competition, just the mere presence of it. You may think that you can drive your competitors out or at least steal some nf their business by offering a better price or better service, but many businesses can breed an intensely loyal following of customers.

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