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Wyoming Business Tips for June 11-17

June 2, 2017

A weekly look at Wyoming business questions from the Wyoming Small Business Development Center (WSBDC), part of WyomingEntrepreneur.Biz, a collection of business assistance programs at the University of Wyoming.

By Robert Condie, WSBDC southwest regional director

“How do I know if my home-based business is ready for a move to a brick-and-mortar store?” Allison, Green River

This is a question that will most likely cross the mind of every home-based business owner at one point in the life of the business.

I want to touch on a few points that might make the decision a little easier to make. There are arguments to keep the business at home, such as low costs, minimal travel time and no office politics. But, I want to focus on some reasons it might make sense for the move to a brick-and-mortar store:

-- Room to grow: There is a good chance -- especially if you have a lot of inventory -- you are running out of room at home and need more space to accommodate your inventory needs.

-- Professional front: Having a place to easily display your product as well, as a place for the customer to visit, presents a more professional feel and look.

-- Dedicated work space: You have a ready-made space to meet with clients. You will not have to work around kids or a list of projects that needs done at the house.

-- Boundaries: Your work time and space are separate and distinct from your family life and your living space. You can leave work problems at work, and your home life stays in the home.

-- Room for employees: Is your business growing? Do you need to hire employees? Go right ahead. There are fewer privacy concerns with having employees.

-- Social energy: You will have more people around to fuel your creativity, more of those “happy accidents” that sometimes happen just from talking with and being around others. That also can come from having more interaction with customers.

If you are considering a move to a brick-and-mortar store, look at these reasons and see if some of these points are what is happening in your home-based business.

If you think a move is something that might be in your future, contact a local Small Business Development Center representative, and he or she can help you get ready.

A blog version of this article and an opportunity to post comments are available at www.wyomingsbdc.org/blog1/.

The WSBDC is a partnership of the U.S. Small Business Administration, the Wyoming Business Council and the University of Wyoming. To ask a question, call 1-800-348-5194, email wsbdc@uwyo.edu, or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.


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