Before You Move Your Business Back Home

As the economy takes its toll on small businesses, many are finding it economically difficult to continue to support retail stores, so they are moving back home to avoid rent and overhead.  The Wall Street Journal recently profiled several such small businesses which found that moving home with their businesses also caused some issues to be uncovered.

Checking For Moving Home:

• Zoning regulations. Check on zoning regulations for your home. If you are running an online business, it shouldn’t be a problem, but if you want your current customers to come to your home, you might have to get a variance.
• Announcements. How will you announce your move? When will you announce it? Don’t announce anything until you are sure where you are going.
• Customers. You will need to find a way to help existing customers continue to do business with you.  Since you may not be able to have them come to your home, how will you show them your products? Consider offering free delivery or free shipping.
• Employees. Laying of employees is tough, but it’s probably one of the reasons you wanted to move home.  Depending on the loyalty and honesty of employees, you may give them less or more notice.
• Insurance. Changing your homeowners insurance and business insurance policies to your new circumstances should be a top priority.
• Advertising. How will you advertise your new location? Or will you?  Maybe it’s best to just let current customers know and not make a big deal about it to others.  They won’t know you used to be in the mall.
• Letterhead, stationery, website. If you used your work location as your business address, you will need to change stationery,etc.
• Official address. Same as above, if your official address for state, federal, taxes, etc. was your work location, you will need to change that.
• Vendors. Notify your banker and vendors of your changed address.

What did I forget?  There is a lot to consider when moving your business to your home, so maknig a list and checking it twice might help you avoid forgetting something.