Yes, you can start a business and move at the same time!
Make Plans Far in Advance
First, you need to determine how much you can afford to invest in the business and in your new place to live . If the business is based on a hobby or other work you’ve already been doing part-time, you may be simply expanding it, but there will still be additional costs for licensing, registering, housing, and marketing the business. Once you’ve rented or bought a new home, you should plan your moving day.
While you are calculating costs and looking for a place to live, be sure to keep accurate records. It’s easy to get confused and lose track of expenses and other vital information. Consider storing all of these documents digitally as PDFs so you have access to them and don’t have to juggle more paper during your move. If you have several files that address similar costs, you can merge them easily with a free online merge tool. Then, you can access, say, all of your house hunting documents together in that one file as you review which option you should choose.
Be sure to pack the items you’ll need right away in clearly labeled boxes. As much as possible, pack the business items separately from your personal items. Create separate spaces for your business and your personal life in the new home. An office you can leave and close the door to is ideal. It’s important to stay in communication with your customers, suppliers, and employees as you make the transition. Let everyone know how long the business will be closed during the move.
Decide Whether to Rent or Purchase
Before you plunge into real estate shopping, think about whether or not you really want to buy a new home at this time. If you decide to rent initially, you’ll have more money freed up to invest in your business. Renting is a good strategy while you get to know the new area and figure out which parts of town would be best for operating your business and eventually owning a home. This may also reduce the stress level, as you won’t be making a long-term commitment as you would in buying property. However, you may decide that you don’t want to move more than once, which means finding a home to purchase is the best option. In that case, begin your search online. You can limit your search to specific areas, types of homes, price ranges, and numbers of bedrooms and bathrooms. For example, you can find good sized three bedroom houses in Allen, Texas starting at around $350,000. With this amount of space, you could easily start with a home-based business and save on office costs.
Consider Forming a Limited Liability Corporation
If you’ve been gradually expanding a part-time pursuit or hobby into a business, you’ll need to choose a structure for your company. Forming a limited liability corporation (LLC) may have some tax advantages, help you avoid some paperwork, protect your assets, and offer some flexibility in how the business operates. Different states have different laws and regulations about LLC formation, so it’s important that you get the information on what is required in your area.
For example, if you decide to start an LLC, you’ll need to know exactly what is required there. Although you can do it yourself or hire an attorney to complete the process, using a formation service can save you many headaches, as well as money. You’ll also need to make sure that your business has a designated Registered Agent to act as the point person with tax agencies and the government.
After the Move
After the move, make it a point to meet your new Allen Fairview local government representatives and make connections with other businesses . You will need to know your way around, and the more people you know, the better. Order new signage, letterheads, and business cards that identify your business in the new location. Make sure your information with the IRS is current. If at all possible, consider closing the business for days or weeks to give you time to unpack and get settled.
Once things settle down a little, you may want to consider going back to school to earn a master's in information technology , especially if you are planning to be a one person show for a while. You don’t have to focus on fixing computers, either. You can pursue a focus on data analytics, which can help you to better guide your business decisions, or cybersecurity, which means you’ll know how to keep your website and client information safe.
Get Connected in Your New Community
Although both moving and launching a business are considered stressful events, they can also be very positive changes. Make sure that you plan out the steps you need to get your business started and decide if you will rent or purchase a home in Allen, Texas. And once you’ve settled in, consider going back to school for an IT-focused advanced degree. It’s important to get a good understanding of many aspects of your business if you want to be successful. Then, embrace your new adventures in Allen by planning your business launch. Be sure to invite everyone you encounter, including Allen Fairview Chamber of Commerce , and your new endeavor will be off to a great start.
Article courtesy of Sarah Velasquez with Our Perfect Abode