Time to leave home? Moving your business OUT of the house
Despite enjoying the benefits that operating a home-based business has to offer, at some point, you may want to consider moving out. Your business was a good fit for your home when you started it, but growth and success can have repercussions. Working at home allowed you to establish your business, but perhaps it is now preventing you from growing any further. There may not be enough physical space for your business to function effectively. If you ask yourself any of the following questions, it might be time for a change.
- Have I run out of storage space for my products?
- Can I increase production to meet demand?
- Is it time for more or industrial-scale equipment?
- Do I need to take on employees?
Is your home conveniently located for doing business? Sometimes zoning restrictions or limited parking are impediments to receiving clients or deliveries. Changes in your household might prevent you from providing a professional setting for meetings. Again, lack of space could interfere with presenting product demos.
Perhaps working out of your home is not for you if you feel isolated and crave the energy that comes from interacting with other people. There may be distractions like children or chores that keep you from working effectively or projecting a professional image. Direct access to people with skills that complement yours could also be useful.
Of course, a move may not be feasible due to the rise in costs. Will your new expenses exceed the expected increase in revenue? If now is not the right time, in terms of finances, to make the ideal move or acquire a larger home, there are other options to consider:
- Shared office space for more manageable overhead costs
- Temporary space in a collaborative setting where you can rent a workstation or meeting room as needed
- Outsourcing work to avoid taking on employees or increasing on-site production
Making the best choices for the health of your business may involve some challenges. To see what is involved in finding the right location for your business, see our section on Choosing and setting up a location. For tips on building a new location or moving, check out Expand, move or open a new location.
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