Tips for Setting up a Home-Based BusinessMore and more businesses have transitioned from a traditional office workspace to a home-based workspace, especially since the Pandemic.  In fact, statistics show there are at least 38 million home-based businesses in the U.S. producing over $400 billion per year. If you are currently operating or thinking of upstarting this type of business, you recognize the fact you need a workspace suitable to your home environment, which can present some real challenges. Read on to discover some basic tips for setting up a home-based business office.

Initial Steps to Determine the Layout of the Home-Based Business Workspace

Regardless of the type of business you are running, there are some initial steps to figure out the layout of your home and where the most suitable workplace in your home is. Below are some typical guidelines to help you determine this before setting up shop.

Consider a Private Area- This is an essential part of the puzzle when setting up your office. Evaluate the areas of your home that will separate you from other household members when conducting business.  Creating physical boundaries can increase focus and the separation of personal and business when needed.  If you don’t have a separate area/room, you may need to consider partitioning off an area that will allow privacy.

Assess Noise Levels- You definitely need to find an area that is quieter to allow for more concentration and less distractions.  Trying to work in a space that has constant noise of home traffic (dogs, people, conversations, television) or the sound of your neighbor’s construction could present a huge challenge.

Determine the Amount of Space Needed- Depending on your type of business, you need to assess the space needed to work.  Consider the amount of inventory you will need to keep in your office space along with office furniture.  If you are keeping data and valuables, you need to plan for the space it will need.

Customize Your Space- Once you have your space and the contents needed, go ahead and personalize it.  Choose colors and flooring that will provide a soothing work area as to increase productivity. Making it yours can go a long way to it becoming a home office workspace you want to show up for.

Basic Supply and Equipment Considerations for Your Home Office

Now that you have your space accounted for and established, it’s time to factor in supplies and equipment.  Below are some essential considerations when choosing these work items.

  • Consider Technology- Consider whether your current business needs require you to update your phone, laptop, or phone lines in order to do business more effectively. You may want to consider a faster internet if it will benefit your business needs.
  • Assess Essential Equipment- Factor in the business equipment you will be using on a daily basis and budget for that. If there are other equipment pieces not used much (fax or copier), it may be cheaper to pay on an “as needed” basis at your local office supply store.
  • Establish a Budget- Establishing a budget is key, but it won’t work if you don’t actually stick to the budget. Find creative ways to find good deals on equipment and supplies.
  • Keep all Bills and Receipts- Keep all bills and receipts for anything purchased for your home-based business. Many items may be eligible to deduct on your taxes.
  • Stock up on Supplies- Buying in bulk can save money and time, so go ahead and stock up on any essential work supplies such as pens, paper, and printer cartridges.
  • Set up a Comfortable Workplace- Think about a properly set up workstation that will allow for optimum productivity and comfort.
  • Invest in Equipment for Travel- If your business requires you to leave the home space and travel to other locations, it is wise to invest in a sturdy brief case and a good laptop.

Following these basic tips can be the start to a profitable home-based business.  If you are considering a home-based business or just starting off, it is recommended you contact us at Burkett & Associates with any questions or concerns.  Keep in mind that your typical Alabama homeowners policy may be inadequate to cover your business insurance needs and we can assist you with obtaining the right business insurance solutions for your specific business needs.  Don’t wait!  Contact us today at 256-7047400.