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Many aspiring entrepreneurs that want to launch a home-based business are only held back because their current house isn’t ideal for living and working. If you’re in that position, you might assume that giving up on your dream is the only option. However, that isn’t the case.
By moving, you can get what you need in a house. If you’re wondering how you can relocate and launch your St. Paul, MN business at the same time, here’s what you need to know.
Buying Your Home
Before you start looking at properties, you need a solid grip on your needs. Along with outlining what you require for your personal life, consider what it’ll take to ensure your business can thrive. Additionally, keep future growth in mind, making sure that the home you select can adapt to your shifting needs as the company expands.
After that, get to know the St. Paul market. This convenient online tool can give an estimate of the median home prices in the area. Remember, prices can vary due to several factors. Consult with an agent for a more accurate idea of what you can expect houses to cost. Work with The Scislow Group to get a thorough understanding of the market and which properties are right for you.
Once you find a property, you’ll need to be ready for the rest of the process. You’ll need to supply earnest money after placing an offer. Additionally, you’ll need to plan for the home inspection and appraisal. That way, you can move forward with the purchase with greater ease and more confidence.
Planning the Move
After placing an offer, it takes 30 to 45 days before you’ll close on the property. That gives you plenty of time to plan your move (as well as launch your company).
For the move, you may want to consider full-service movers. They’ll handle the entire process, including packing, loading, transporting, unloading, and unpacking. Then, you’ll have more time to focus on your company.
However, the DIY approach could also work if you need to keep costs down. Begin by getting boxes and packing up your non-essentials, moving toward more essential belongings as moving day draws near. Keep like-items together and label the boxes clearly, ensuring you know where everything is when it’s time to unpack.
Launching the Company
In most cases, getting your small business off of the ground is easier than you’d expect. If you want to launch one in St. Paul, you’ll need to:
- Choose a Business Structure
- Register with the Minnesota Secretary of State
- Get an EIN
- Set Up for Minnesota Business Taxes
- Review Local Employment Laws
- Secure Licenses and Permits
It’s important to note that when you complete those steps may depend on where you live currently. Since business registrations and licenses don’t always cross state or city lines, whether you get them now or after you move depends on where you live today. If your current home is in St. Paul, you can tackle that at any time. If it isn’t, you may want to wait until the home you’re buying is officially yours, giving you a St. Paul address.
Boosting Your Business Skills
Even if you want to get your St. Paul company off the ground immediately, that doesn’t mean you shouldn’t spend a little time boosting your business skills. While launching a company without a business background is an option, the trial by fire approach isn’t always ideal. You may be more prone to mistakes, all because you didn’t know what to watch out for when starting your company.
By returning to school and getting an MBA, you can improve your capabilities. You’ll learn about business management, operations, communications, and more, ensuring you have a strong foundation. Plus, by going with an online degree program, you can go at your own pace, allowing you to start attending classes while you’re moving.