Evaluating Your Home for Business Purposes
Not all homes are suitable for both living and business purposes. Consequently, before realizing your dream about having your own home business, ask yourself the following questions about your current home:
- Does it have sufficient space to accommodate both your family’s living needs and your business needs?
- Does it have at least one room you can turn into a dedicated office?
- Does it have enough space for the supplies, tools and other business necessities you’ll need?
- Does it have a separate entrance so your clients or customers can come and go without disturbing your family?
- Can your driveway and entryway accommodate disabled customers or clients who need mobility help from a wheelchair, a walker, a cane or crutches?
- Does your neighborhood have any zoning restrictions?
Buying a New Home
Fortunately for you, Fox Business reports that mortgage rates recently sunk to all-time lows. Interest rates, however, are not the only thing you need to consider when buying a new home. Before you take the leap, remember the home buying process has quite a few important steps, namely knowing how much you can afford (keeping in mind that the current median price for Indianapolis homes is $181K) and getting pre-approved for a mortgage.
Forming Your Business
Before going too far, one major decision you’ll need to make is what kind of business structure you want. Here you have numerous choices:
- Sole proprietorship
- Partnership (several different types)
- Corporation (several different types)
- Limited liability company (LLC)
The Bottom Line
Once you have your housing needs squared away, you can then join the millions of other Americans who own and operate successful home businesses.
Once your business is up and running, showing your appreciation to clients will be crucial. A great way to do this is to say thank you with gorgeously-crafted cards made with love by Cheryl Piotrowski, the creator of Hand Stamped by Cheryl! Or you can learn to make your own by taking a class with her. Check out her upcoming events to start making projects that will show your new customers just how much you value their business!