Some of the most famous and successful entrepreneurs started out from home-based businesses, and today more than half of all small businesses are home-based. Working from home has many advantages, not the least among them is the ability to save money on things like rent and commuting. But unless your long-range business plan is to remain a one-person show for the rest of your professional life, sooner or later your small business is going to outgrow your house.
How can you tell when it’s time to move your small business from your home and into an office? Here are five signs:
1. You need to hire more employees than you have space for at home.
Home-based businesses typically work best with a small number of employees — often just the company owner and one or two employees. When you need to hire more employees than your home office can comfortably house, it’s time to start looking off-site for office space.
2. Your business has grown beyond the size local ordinances permit for a home-based business.
Many communities have regulations about how big of a business, and what kind, you can run from home. If yours has grown beyond those limits, you may need to move out of your house and into an office to stay on the right side of local regulations.
3. You need a more professional setting for meetings with customers, clients and business partners.
Sometimes you just need an impressive space for meeting with people. No matter how grand your home office, there’s something to be said for the impact of a professional space with a receptionist. Now even one-person small businesses can achieve that effect by renting in an office suite where they share a receptionist with other small businesses.
4. You’re feeling isolated or you need some space.
Working from home is not for everyone. Some people may feel isolated or may be more productive in a professional setting surrounded by others. If that describes you, moving into an office may help you feel more focused and productive. Conversely, working from home can leave you feeling like you’re always working and may even adversely impact your family life. If it seems like your business is detracting from your home life, it may be time to move your business outside the home.
5. The benefits of moving outweigh the advantages of staying put.
Moving into an office may have other benefits, such as tax savings, increased foot traffic with an office or storefront, or better proximity to products and services vital to your business. Make a list of the pros and cons of moving versus staying at home. If you find there are more reasons to go than stay put, it’s time to move your small business out of the house.
Ready to make the move? Reach out to us for an electricity quote for your new office.