Long ago, a person’s home and vocation were inextricably linked. If one was a farmer, they lived on the land they worked. If they were a shopkeeper or tradesman, their home was attached to their shop. However, the idea of going to work and coming home became the norm as industrialism rose.
However, this isn’t everyone’s reality. Some business owners choose to open up shop out of their homes. If this sounds like a dream come true, follow these tips for starting a business out of your home.
Decide if a Home Business Is Right for You
Opening a business out of your home is more complicated than it sounds. For some, the building itself isn’t suited for a business. For others, the lifestyle of the business owner is incompatible.
If you aren’t sure whether this step is right for you, it pays to ask yourself a few questions, such as:
- Do you have the time to devote to a business?
- Do you have a fully evolved business plan?
- What are your business’ physical needs? (For example, floor space, building equipment, a reception area)
- Can your house meet your business’ physical needs?
- If your business requires people to come to your home, do you have the space to accommodate this?
- Is your home located in a spot that would make it conducive to business?
If you aren’t sure how to answer these questions, consider finding a mentor with more experience.
Review Local Ordinances
Every area has its own codes as far as business licenses, zoning, and commercial space goes, and the Quad Cities are no exception. When forming your business, make sure you apply for the proper permits, register for state taxes, obtain an EIN, and buy insurance.
Additionally, you will want to establish your business’ legal structure. If you have one or more partners involved in your business, you will want to have your agreement set in writing. This will help avoid issues later on.
Prepare the Building
Once you’ve learned how to start a business out of your home, you will need to prepare the building itself. How you do this will depend on the type of business you’re opening. If you’re creating a product out of your home to sell, your main goal will be to create a space conducive to your work that is separate from the rest of your home.
If you’re creating an office space or shop customers will visit, you will need to put additional work into preparation. You may want to hire a professional to handle your interior décor. If you decide to DIY your business’s décor, avoid the painting mistakes beginners make or decorating faux pas.