Coming to know if your home-based business if ready to move to a retail space. There are some ideas to think about when you are trying to make this important decision.
When is the ideal time to move your business from your home to a retail space? This is a question that will most likely cross the mind of every home based business owner at one point in the life of the business – Should I move my business to a brick and mortar store? I want to touch on a few points that might make the decision a little easier to make.
There are arguments to keep the business at home like low costs, minimal travel time, and no office politics but I want to focus on some reasons why it might make sense for the move to a brick and mortar store:
Room to Grow. There is a good chance, especially if you have a lot of inventory, that you are running out of room at home and need more space to accommodate your inventory needs.
Professional Front. Having a place to easily display your product as well as a place for the customer to visit presents a more professional feel and look.
Dedicated Work Space. You have a ready-made space to meet with clients. You will not have to work around kids or a list of projects that needs done at the house.
Boundaries. Your work time and space is separate and distinct from your family life and your living space. You can leave work problems at work and your home life stays in the home.
Room for Employees. Is your business growing? Do you need to hire employees? Go right ahead. There are fewer privacy concerns with having employees.
Social Energy. You will have more people around to fuel your creativity, more of those “happy accidents” that sometimes happen just from talking with and being around others. That can also come from having more interaction with customers.
If you are considering a move to a brick and mortar store, look at these reasons and see if some of these points are what is happening in your home based business. If you think a move is something that might be in your future, contact your local representative of the Small Business Development Center and we can help you get ready. Is there anything else that might have helped you make the decision to move to a brick and mortar store?