Downsizing? Set Up a Small Business in a Smaller Space

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Set up a small business in a smaller space -MaxSold

Setting Up A Small Business In A Downsized Home

Downsizing can sound scary, but it’s such an exciting opportunity to move forward in life. It’s the chance to get your finances in better shape, free up more budget space for travel, dining out and having fun. It also enables you to make room in your life for new experiences. While you’re in the planning stages, you can even indulge your fantasy of moving to the Mediterranean or New York City, or into that adorable little house right across the street! It’s also a great time to think about starting a home business.

Whether you’ve been running your own business for some time, or you’ve just become interested in setting one up, it’s very rewarding to earn money from home after downsizing. You might worry that with less space, a business at home would really cramp your style, but it doesn’t have to!

Businesses based on writing/editing, design, baking and many more can fit perfectly into an appropriate area of your new, smaller home. Here’s a step-by-step guide to help you plan out your space efficiently and stay motivated about embarking on your next adventure.

Step One: Choose Your Niche

This is the fun part! Are you already a chartered accountant, a tax preparer or a consulting specialist? Consider using existing certifications and professional skills to help others with their administrative and consulting needs. You can do it from your kitchen table–or home office, depending on where your mood takes you.

Businesses based on the creation and maintenance of spreadsheets, financial worksheets, tax forms, writing, design are perfect for home workers. In many of these cases, you wouldn’t even require a full office. In face, you just need a dedicated part of your bedroom, kitchen, or living room.

Jobs that require nothing more than a laptop are ideal for small spaces, of course. However, that’s not to say it’s impossible to run a different sort of business from your downsized home. As long as your machinery and stock aren’t overwhelming, you’ll be able to set up an efficient workspace for whatever you decide to do.

Set up a small business in a smaller space - MaxSold

Step Two: Get Equipped

Now it’s time to sit down and make a list of the things you need to actually conduct business. Make sure you include the necessities. For a cake bakery, that would be a large oven, cake pans, spatulas, mixing bowls and spoons, etc. You probably also need a desk and perhaps a filing cabinet.

You should also write down the things you want, regardless of whether they are absolutely essential or not. For example, that could be branded pink cake boxes, instead of cheap, plain, brown ones. Keep those things on one side of the list in case your budget allows it or you find a very affordable way to get it into your home.

Set up a small business in a smaller space - MaxSold

You’ll be able to source many of these items from the MaxSold website. Online auctions and estate sales taking place near you are updated constantly so that vendors can get rid of things they don’t need anymore, and you can pick up new business tools at cut-rate prices!

Especially, It’s also a great way to thin out your belongings before the big move; even afterwards if you discover you’ve brought too much stuff with you. Organize your online auction with MaxSold to get everything done fast and worry-free. You won’t have to get anything appraised, look for buyers, or post your listings all over the street and the internet to get foot traffic.

Step Three: Start Interior Designing

When all the pieces are ready to go, it’s time to design your new home to suit your needs. There’s no need to rush this part, especially because it can be a very satisfying way to bond with your new space. Start small, in just one room, and see where the furniture and the shape of the space takes you. You’ll soon see how things flow best.

If you still aren’t sure where your workspace fits in, start with the second bedroom, if you have one. Though you likely want to keep it as a guest room, it can still be optimized to provide a functional workspace. Start with the large pieces of furniture, then place the rest of your necessary items around those.

In case your new home has just one bedroom, don’t worry! Picture a slim wall desk, large enough for your laptop, notepad and mug of tea. Beneath that is a file folder box and a printer. Keep your eyes open for unique furniture designed to make small spaces ultra-efficient. Wall-mounted desks, shelves, and bike racks are a great option, as are coffee tables and seating with hidden storage.

Picturing yourself as a cake maker or lunchtime delivery boss? Fantastic! Your kitchen probably already has everything you need. Isolate one or two cabinets for work-related equipment and ingredients. You may consider a larger refrigerator or stand-alone freezer. There are countertop freezers if you don’t have any extra floor space.

Step Four: Open up for Business!

Set up a small business in a smaller space -MaxSold

Once your workspace is ready, you can get started finding clients with little more than a simple website, a Facebook page, or a few well-placed flyers. Word of mouth is also a powerful advertising tool. So talk with your friends and old colleagues to see if anyone might need your services, or know someone else who does.

Remember to keep business finances separate from personal finances. Also don’t forget to file all your expense receipts for tax season. Advertising can be written off as a business expense, as can certain amounts of your home’s electrical and heating/cooling costs, so long as you have a dedicated workspace.

Stay motivated on your next adventure

As your business and your new lifestyle get going, you’ll find different ways to arrange your work items and home comforts. You might be ready to let go of a few more things from the past, in favour of a minimalistic and uncluttered feel. Go with the flow and embrace what might seem new and scary right now! Perhaps, those scary ideas–like turning your apartment into a cupcake factory–could be your greatest achievement.

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