How to Find the Best Space For Your Home Business (By: Tina Martin)

July 10, 2020

How to Find the Best Space For Your Home Business

Finding the right location for your home-based business is important whether you’re just starting out or you’ve been running it for a while. There are a few core things you should bear in mind when making this decision though. Let’s take a closer look at what those are.

The Size of Your Business

The beauty of running a business from your home is that there are several opportunities that only require a small space. For example, if you’re working on your own as a blogger, consultant or graphic designer, you only need to design an office you’ll like. Even with a small space, it’s possible to create specialized areas for businesses such as photography. According to Envato Tuts+, you can build a darkroom in your home as long as you have the right lighting. Since you’ll need an area that is free from lighting, you can either use a closet or the basement. If you’d prefer your darkroom to be accessible from your home office, consider using partitions so you can easily move from one area to the other.

What Your Customers Need

There are a few home-based businesses that require a larger space because you’ll need to meet with clients or have a steady influx of customers. This can happen if you’re tutoring or running an exercise class, for instance. In this case, using a spare room inside your home isn’t the best option. For a relatively quick solution, a garage conversion might be just what you need. According to Exercise, if you want to turn your garage into a gym you’ll need to create more storage and insulate the room. Exercise programs can be demanding so be sure to install durable flooring. Sometimes your clients need a little more privacy in which case building an office in your backyard is a great option. If neither of those fit, then it might be time to find a more suitable home.

Zoning and Regulatory Laws

Other factors that can influence where you can successfully run your home-based business include zoning regulations as well as the health or safety laws that govern your specific business. Zoning regulations will determine if you can advertise your business or offer your customers parking. It’s best to contact your local zoning board so you can find out if your business meets the requirements. Bear in mind that it’s possible to appeal a denial, but that doesn’t mean you’ll get your “yes.” Food businesses may need to meet even stricter laws, and according to Bizfluent, some states don’t even allow home-based food businesses. If that’s your business, checking the state laws to ensure compliance is important. Without this approval, you might have to find a different location.

Do Your Research

If you’ve determined that your business is better off in a different location, then make sure you do your research. You can find out what areas are great for small businesses, or you can make things easier by finding a home in your area. When shopping around for a house that meets your space and storage needs, make sure you know what you can spend and review local listings. According to Redfin, Miami homes have been selling for an average of $343,000 over the last month.

You’ll need to research available mortgages as well. Many home buyers with favorable credit profiles prefer conventional loans because they have lower interest rates and don’t require purchasing private mortgage insurance on down payments of over 20 percent.

If you’re wondering whether you should create the space you need from a spare room, build in your backyard or find a new house entirely, the answer depends on the type of home-based business you’re running. Make sure you find out how much space you need and what the laws allow before moving forward.

Photo courtesy of Rawpixel

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