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If you are a small business owner working out of your own home, you’re in good company. Big names like Sara Blakely (the founder of Spanx), Facebook’s Mark Zuckerberg, and Amazon’s Jeff Bezos all started working from home. Today, they’re all billionaires. Ready to follow in their footsteps? A distraction-free home office that promotes productivity and ideas can help.
If you want a dedicated room for your office but don’t have space in your current home, consider investing in a larger property. You can sell your current place and use that money to fund your new real estate venture. On the other hand, you also don’t have to buy a brand new place to create your dream office. Interior designer Jasmine Galle shares some ways you can create a home workplace for your small business.
Designing a home office gives you full control over every practical and aesthetic detail. There are several things you should think about when designing your space. The layout is the first major consideration. For example, you want your workspace to be away from distracting high-traffic areas, like a television room or kitchen.
Beyond this, it’s critical to set up your home office with functionality in mind. Include a work surface, areas for storage to control clutter, and a corner where you can meet with clients if needed. Invest in quality office furniture that is both practical and functional. An ergonomic desk chair prevents lower back pain, for example, which is the leading cause of disability worldwide, according to the American Chiropractic Association.
You can also renovate your home to create the perfect office space for your small business. For example, if you have an unfinished basement, this can be transformed into a cozy workspace. Houzz shows you how it’s done. You may have to redo the floors, for example, add wiring to accommodate internet access, and install a dehumidifier to avoid dampness.
Before you start budgeting on home improvements, see if these expenses might be tax-deductible. To qualify for a home office deduction, you must demonstrate to the Internal Revenue Service that you have a legitimate business and that your home office is used regularly and exclusively for that business.
Establish your startup as a Limited Liability Company before renovating. An LLC is easier to create than other business structures, like a corporation. Be aware, however, that the rules governing LLC formation varies between states. For instance, if you’re looking to register an LLC, Washington state has its own local regulations. You can skip the cost of a lawyer by using a more cost-efficient business formation service instead.
Finally, you might consider selling your current home and buying a larger one to accommodate your business. You can use the profit from the sale to fund your new property. If you’re still short on cash, look into purchasing a property “as is.” Properties sold as-is are generally more affordable.
Of course, there’s a catch: You can’t ask the seller to make any fixes to the property, even if major defects like a pest infestation or faulty foundation are discovered. To protect your interests, work with a reputable realtor and review all paperwork related to the sale. You can also have a lawyer draw up a contract that allows you to conduct a third-party home inspection, and then walk away if major issues arise.
As a small business owner, you want to ensure you have a home office you are comfortable in. This will allow you to do your best work and achieve greater success. Follow the above tips for home office ideas and work with Jasmine of Sage & Soul Interiors to establish a beautiful workspace where you and your business will thrive.
Guest Post by Author, Tina Martin creator of Ideaspired.
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Sage & Soul Interiors is a full-service design firm creating cozy, contemporary homes from concept to completion for clients throughout Spokane + the inland northwest, as well as design consulting projects for virtual clients.