How to know when it’s time to move your business out of your home
Are you a home based business wondering if you should make the leap into commercial property? If so read on. We understand that choosing to take on a commercial lease (or buy) can be a big step for your business. We have created a list of things to consider to help you ways to help you make an informed decision.
Clients making comments
The first way to be sure it is time to move from your home to commercial premises is when customers start making comments. The comments tend to start out as little jokes and subtle thoughts. These kinds of comments are extremely helpful in making your decision to move. A dedicated business site is key to creating an impressive, professional feeling to customers and the market in general. People will use your premises as a sign that you are big enough and trustworthy enough to engage with.
Your home is tight on space
Space is key to a successful business and a successful home. Is your business creeping outside your office? Is it beginning to take over your home? It might be time to move into a dedicated business premise. It is important to ask yourself, is my business taking over my home?
You need staff
Needing space for staff is one of the most obvious reasons to move out of your home and into a commercial space. While in the short term it may be okay to have employees work from your home, long term it is safest to have a dedicated commercial space. Workplace safety can be hard to control in a home environment. It is much easier to manage safety in a formal business environment.
You want foot traffic
Do you think your business might benefit from foot traffic? Moving from your home to a commercial premise or shop front could give your business an instant lift. Foot traffic and exposure can make your brand immediately more recognisable. It enables new customers to visit you without a plan. This could mean impressive growth for your business with only a small investment of funds.
You need a space to meet with clients
Meeting with clients in local cafes, restaurants or event your lounge room can get old pretty quick. If you want to be seen as a legitimate business in the marketplace, it is essential to have meeting space. Renting a commercial space with room to meet with potential suppliers and clients can quickly legitimise your business. It shows that you are forward thinking, professional and ready to grow your business. Don’t forget impressions are everything in business.
Having a home based business can be lonely. While you might have interaction with customers and suppliers over the phone if you are working from home you can go days without seeing another human. Having commercial space can help you to feel less isolated in your business. It can encourage you to network, create more formal relationships and to shut off from work at the end of the day, allowing you to enjoy social time after hours rather than working until midnight. Reducing isolation is a major benefit of co-working, something the Carmen Rudd Properties team is passionate about.
Having a professional front for your business can be the single greatest thing you can do to showcase your business. Potential customers will see you as a real business, instead of just a “hobby”. This means you attract new customers, sales and networks to help you to outgrow the cost of your new premises.
You want to boost your productivity
While it can be nice to stay at home from work a day or two, your home is filled with distractions costing you precious productive hours. Working from home also creates a more informal relationship with work and your clients, meaning it is much harder to switch off. Working from a distraction free, work premise can help you to boost your productivity and make it easier to switch off and enjoy your non work hours.
Any advice in this blog is general in nature. Please contact your trusted real estate agent for more personalised advice