Monthly Archives

September 2022

Running a Home and a Business from Two Locations

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Many small business owners dream of a day when they can have multiple shops, multiple homes, and one life full of success. This is perfectly possible, but it does take work. Today, Business E Suites touches on a few ways to keep your own home, family, and business running safely and smoothly when you have multiple residences in different cities/states.

Savings

Even though you’re already in a position to enjoy success, you don’t want to let the income you’ve already earned get eaten up by your second home. A few simple ways to save money here include getting your business out of debt, cutting back on unnecessary expenses, and possibly even adjusting your overhead needs. For example, consider ditching rent for an office building. Instead, you can trade off between working from home and a co-working site.

At home, you can save money by checking prices on things like automobiles and health insurance in the state where these expenses tend to be the least. Plan to cancel your cable subscription on both properties and instead go with a streaming service that provides the types of content you and your family need. If the choice comes down to Disney+ versus Netflix, this guide by Android Authority can help you decide.

Communication

Communication is essential in all businesses, and yours is no different. Make sure that you can communicate with your employees and customers, which might mean investing in a laptop with longer-than-average battery life. There are many different options, and prices vary. Look for comparisons of today’s latest models.

It may also be wise to hire a personal assistant to handle certain business matters while you are in between homes, especially if you drive or fly between each frequently. If you hire someone to work alongside you in person, you may spend up to $52,000 per year, and if they travel with you, you also have to pay for their accommodations and food while they are away from their home state.

Safety

The safety of your family is important when they also live in multiple residences. Make sure that you have a security system in each home, that you can access both from wherever you are. When your children are young, make sure that each property is adequately childproofed, which should include having locks on lower cabinets. Before you buy any types of products that your family will rely on for safety, read reviews, details, and opinions from qualified sites.

Pricing Between States

You already know that the cost of housing, utilities, and food will vary from one state to the other. But don’t forget to pay careful attention to other common costs, which include things like:

  • Storage units. You can find a storage unit quickly using Google. The cost of storage in LA, for example, ranges from around $125-$300 each.
  • Business space. If you’re planning to open up shop in Boca Raton, Florida, you’ll probably spend around $36 per square foot, although many units are available for $19 per square foot for a one-year lease.
  • If you’re looking for cheap internet, consider anywhere in Texas, where you can expect to pay $2.29 per megabit.
  • Clothing is expensive no matter where you go. However, if you want to move to Washington, DC, you’ll probably spend less than $1,000 per year on fashion compared to $2,500 or more in the entire state of Illinois.
  • WKYT, a Lexington, Kentucky-based news station, says daycare can cost around $18,000 per child.

Running your business and owning two homes is a great way to expand your market and expose your family to multiple living arrangements. But, there are many things to consider before you do so. From keeping your family safe to the cost of basic extras, like a storage unit or internet, you need to know what you face before you start eating into your profits.

 

Image via Pexels

 

How To Start a Business While Moving

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Laying the foundation of a business is the most crucial stage of a business, whether in Sugar Land, TX, or elsewhere. With digitization in business and the growing popularity of home businesses, people are slowly venturing into these spaces for success. However, it becomes more complicated when you must relocate for business or personal reasons.

Have a working plan that will not interrupt your business schedule and goals. It takes adequate preparation and understanding of your business proposal to thrive in different locations, and Business E Suites shows you how to get started.

Finding a Good Place for Your Business

When choosing your business location in Sugar Land, Texas, you need to consider these factors:

  • Type of business
  • Target audience
  • Workplace environment
  • Business requirements
  • Business and location culture
  • Financial budget

Entrepreneurs need to consider what will make their business tick. Digitizing businesses is why most business owners are leaning towards home and remote businesses, but there are many options, including community workspaces. In fact, Business Suites offers a variety of options, from communal to private move-in-ready office spaces if you are looking for a consistent, but inexpensive, office option outside of your home. Whichever workplace you choose, ensure it suits your business strategy. If correctly used, securing a home location for your business can save you time and money.

Buying a Home When Moving

Shifting necessitates business changes. Most home businesses will require a calm setup and location within the house. Some people convert sections of their houses, such as garages, to create space for their business. The first step when moving is to choose a house that will fit your personal and business needs. Look for a home that gives you versatility and functionality. Then, consider which requirements you’ll need for the location setup before moving your business.

Ensure you make proper financial and moving arrangements. Terminate any current leases that you may be holding for your home. You can sell or lease the house, which will help you fund the move and purchase of the new home. Understand the various financing options, such as mortgages or loans. These options will help you work around a financial budget that doesn’t drain you. Survey the new location to exhaust your options. However, ensure you engage a housing expert to get the best deal.

You may find during this process that renting is a better fit for you at this time. Perhaps you need to build up your credit, or the stress of entrepreneurship and homeownership is just too much to balance at one time. No matter the reason, renting a home is a viable option if it meets your personal and professional needs. Spacious four-bedroom homes in Sugar Land go for between $2,000 and $2,500 per month, which would give you plenty of room to grow your business. You can also get a sense of the neighborhood and the amount of space you’ll need, which can be helpful information going into the home-buying process when you’re ready.

Launching a Home-Based Business

Setting up and launching a home-based business can be very doable if you have a detailed business plan. First, you need to write down your business plan. The business proposal is an excellent place to start if you want to have an elaborate strategy.

If you’re having trouble getting everything in order related to your business, don’t hesitate to reach out to professionals. For example, you can work with a formation service instead of completing your new business paperwork to make the process a lot more manageable. Formation services file the proper paperwork with the state, freeing up your time for other important tasks.

Next, itemize your requirements and how you expect to build a strategy for production. Get down to the finer details, like how you will brand, market, and sell your products. Also, include how you would like to structure your business. Look into which items you’ll need in your home office. Look into the type of staff and roles you would like to have. Finally, create a business culture that will set the mood and emphasize the business structure.

Getting the Right Software

Once you have your business plan in place, consider the finances you’ll need. Factor in every process and requirement as you draft an estimated budget. This way, you can easily prepare to launch your business once you are in your new place. Look for accounting software that will allow you to easily keep track of your invoices and expenses. You should also consider investing in a good CMS program, too, in order to keep track of your growing client base.

There are plenty of inexpensive and free marketing programs available, too. Social media platforms are free and easy to use, and other design programs can pair nicely with them for quick, easy, and professional-looking posts. You can use an online banner maker to create a beautiful banner that you can use across your digital marketing sites. Simply choose from the numerous templates, change the text, and update the font and colors to your branded ones, and you’re ready to post!

Final Thoughts

Don’t be in a rush for your move. Let the plans and your needs align before committing to it. And if you need to rent during this important moment in your entrepreneurial journey, then do it. If you find that you need more office space or that working from home simply isn’t a good fit for you, look into a communal or private pre-furnished office at Business Suites. It’s your journey. Do what fits your needs, and you won’t regret it.

 

Photo Credit: Shridhar Gupta via Unsplash