posted
Hi again John, A couple of posts brought up what could lead to be a very valuable question. And please don't take this the wrong way because the way I ask this question may sound rude... So, do you want to grow your business into a larger entity or are you happy with the job and freedom you've created for yourself? If you're happy with where you are in life and don't plan to grow your business much larger, you may want to move to a home based operation. It will still give you the freedom of being a good parent without the worries of having to make a rent payment going to someone else every month. However, if you want to grow the business and eventually grow it into a larger organization with employees, a storefront would be better. As Frank and Gene pointed out, it's all about location and exposure.
Hey Bernard and welcome aboard! I officially started my business back in Feburary and I'm home based. So, I know where you're coming from. The same questions I asked John would also apply to you, but there's a lot more to it. The big discussion I'm sure you and your wife are having is what about the money. However, even before you get to that point, you have to ask yourself can you really do it? If you're not 100% sure, don't sweat it. But it's time to come up with a good business plan. If you use the search feature or start reading the archives, you find a wealth of info, plus there are many sites of interest on the web, starting with www.SBA.gov. From there, just about anything can go.
Good luck to the both of you!
Checkers
-------------------- a.k.a. Brian Born www.CheckersCustom.com Harrisburg, Pa Work Smart, Play Hard Posts: 3775 | From: Harrisburg, Pa. U.S.A. | Registered: Nov 1998
| IP: Logged |
posted
Its hard to explain the situations here regarding available property, etc. The place I rent now is an old, in need of much repair building. Rent is cheap, but lots of problems. Landlord is too old to want to fool with anything, and she has several renters on eviction due to non-payment. There are NO places to rent in harlan that have any size at all, or location. The downtown area is full of old buildings,but they are either rented or too dilapidated to fool with. I had looked at a place to rent the other day, so I could move from here, but that fell through. The building was less than what I thought it was. My only recourse is to build a shop, and again, Im faced with there being no property to build on here locally. I basically will have to build on my home property or stay where I am at, and thats just not feasible. This area isnt great as far as available real estate, or its too high to even consider. Sometimes you have to take a gamble I guess. Im thinking with my reputation for good work, and being well known, will keep me busy no matter where Im at.
-------------------- Maker of fine signs and other creative stuff. Located at 109 N. Cumberland ave. Harlan, Ky. 40831 606-837-0242 Posts: 4172 | From: Ages-Brookside, Ky. Up the Holler... | Registered: Jul 1999
| IP: Logged |
posted
Due to zoning regulations in my neck of the woods we are not allowed to operate a business in a residentially zoned area so for me I don't have a choice except to locate in an area zoned for retail/business. I can't imagine the township would give me a variance for a sign shop. I just read of a women getting a variance for a mail order business and it took quite a while.
If a variance makes news in my town imagine what a variance for a sign shop would be like.
-------------------- Denis de Leon Creative Signcrafters 125 Railroad Avenue, suite 4 Hightstown, NJ 08520 Posts: 128 | From: New Jersey | Registered: Jul 2005
| IP: Logged |
I was home based for 20 years, raised 5 kids, wife never had to work. It was great, but, I was not getting the upscale work. Competiton over the years became so great, it was a pain for customers to keep coming over.
The new franschises were taking over, and they had nice shops, easy parking, easy walk in, to a store that looked more like a Kinkos than a sign shop.
So I moved, nice location, busy street,and it didn't take long to start getting the walk-ins that had fleet trucks, sub-division signs, church groups needing signs. None of these would have searched me out at the home base.
A lot of home base shops are in small communities. Life and attitudes are different and everyone knows each other.
We, however, live in a larger city with 4 colleges and some major corporations. Life moves quickly and jobs are lost just by appearences.
Once we made our move to a commercial location, we could start making extreme upscale signs, which easily generate the rent.
Everyone has to figure this out for themselves, taking into account the community and the competition and the type of sign work you are selling.
posted
No real comment on the post other than to say that either way you choose, it's much better to own, not rent.
Some real good comments about building equity mentioned above. Our relationship with banks changed completely once we had bought our first building, new toys came quick & easy.
We bought our first commercial building in '95, Paid it off in 7 years. Still own it. Revenue from first building and a long term tennent who rents 1900 sf of my (now) 7000 sf new building more than pays the entire mortgage.
-------------------- Mike O'Neill
It has yet to be proven that intelligence has any survival value. - Arthur C. Clarke
posted
Location is important, but it sounds that your currently location is becoming a big hinderance due to the drug activity.
I'm home based & love it. I'm less than 5 miles from the center of town. Far enough out that (very few) wastes-of-time come walking in, but not to far to be inconvenient to real customers. No worry about finding a parking space here either.
You're going to be moving, either home-shop or new location in town. Either way, that is a PERFECT opportunity to send postcards to all your customers letting them know about the move. It may just spark their minds that they wanted to order ________. Once your up & running in the new digs, I'd also set up an open-house or customer appreciation day or something along those lines. Have snacks & drinks, send cards, call your top customers & maybe do an ad in the paper for it too. I'd also send the local paper a press-release about your new location.
-------------------- Chris Welker Wildfire Signs Indiana, Pa Posts: 4254 | From: Indiana, PA | Registered: Mar 2001
| IP: Logged |
posted
I agree with Mike on the ownership thing..banks love folks that "own" property. Much easier to get a line of credit.
If you have an existing base of clients, they probably communicate by phone or e-mail or (shudder) Fax.
They will continue to do so no matter where you relocate.
-------------------- Dave Grundy retired in Chelem,Yucatan,Mexico/Hensall,Ontario,Canada 1-519-262-3651 Canada 011-52-1-999-102-2923 Mexico cell 1-226-785-8957 Canada/Mexico home
![[Smile]](smile.gif)
Printer-friendly view of this topic