Can You Move and Start a Business All at Once?
For some, the idea of moving while starting a business at the same time seems impossible. However, the reality is often quite different. Many people forget that the home buying process is lengthy. It may take days, weeks, or months to find a suitable property. Then, you have to submit an offer with contingencies, negotiate with the seller, handle the property title search, set up a home appraisal, and schedule an inspection.
Overall, buying a house from offer to close takes around 30 to 60 days. With that much time, it’s completely possible to plan a move and start a business all at once. If you want to know what you can tackle simultaneously, here’s a look at the steps you can handle at the same time — courtesy of the real estate experts at NELA Group.
Setting Up Your Company’s Foundation
While the home buying process is underway, you can take care of many key steps to launch your home-based business. For example, you can choose your business structure. Figuring out if an LLC or another option is the best fit usually only takes research. As a result, you can do that practically any time.
Similarly, picking a business name can happen while you’re preparing to move. Again, it’s mostly a research-based activity. You need to see if what you want to call your company is being used by someone else. Additionally, you’ll want to find out if your preferred domain and social media handles are taken.
It’s also smart to decide if you want a ‘doing business as’ name. If you file a DBA, you can easily branch out and offer new products or services under different names while keeping your operations under a single company structure. Plus, it may help if your first domain or preferred social media handles aren’t available, allowing you to market your goods or services under a name that isn’t used elsewhere.
There are a few activities that might need to wait. For example, if you’re selling goods, you might not want a large shipment of inventory to come to your house before you officially move. Additionally, you might not want to register your business until the new home is formally yours if you’re changing states. That way, you won’t have to register as a foreign LLC or go through a domestication process after you move.
Handling Moving Planning Activities
While you get your company’s foundation in place, you can also plan your moving activities. You’ll want to start by checking the housing market. For instance, a quick online search will show that homes in Los Angeles sell pretty quickly, so you know that when you find one you like, you need to snag it.
Then get quotes from moving services and see if what you need is available on your potential move-in date. Just make sure you focus on companies that let you change the date without costly fees. That way, if your closing is delayed, you aren’t on the hook for extra cash. Likewise, if you aren’t able to move into your new home right away, you might want to look into a short term vacation rental and launch your business in style.
If you’re doing a DIY move, start looking for free boxes. It can take time to get enough for a home household, so it’s best to begin immediately.
Additionally, pack any non-essential items in advance. Go through one room each day and identify things you don’t need immediately, like knick-knacks or out-of-season items. Box those up now so that you’ll have less to deal with on moving day.
As the day of your move gets closer, pack household goods that you use regularly but can live without for a few weeks. Then, once you reach moving day, all that will be left to pack is genuine essentials, making everything much easier to manage.
Thinking About the Future
Obviously, you already have your hands full, but it’s never too early to start thinking about the future of your business. Do you think you’ll want to expand? Are there any successes or mistakes made by your competitors that you can learn from? Maybe you’re thinking about going back to graduate school to gain some extra insights in your field. Rather than increasing your stress, you might find that planning out your goals now actually helps you maintain focus and keep your eye on the ball.
Remember, you’re starting a big, new chapter in your life. Not only are you moving, but you’re starting a new business as well! It’s normal to feel stressed. Just don’t forget to feel excited, too!
NELA Group is committed to providing a better quality of life through housing that enhances health, happiness and well-being. Call 323-770-4510.