Starting Your Calabasas Small Business While Moving: How to Pull It Off
This is written by Maria Cannon.
If the only thing that’s preventing you from starting your home-based business is your current house, moving could be your ticket to entrepreneurship. Luckily, it’s possible to launch your Calabasas, CA small business while moving simultaneously. Lucrum shares how to make it happen.
Since the median home sale price in Calabasas comes in near $2 million, home-buying in the area takes planning. In most cases, you’ll need a jumbo loan instead of a conventional mortgage, so the requirements are stricter. Typically, getting a 20 percent down payment together is a necessity for loans of that size, so you’ll need to plan accordingly.
Additionally, you’ll need to prepare for other costs. Along with providing earnest money, paying for home appraisals and inspections is usually the buyer’s responsibility.
Once you know you’ve got the financial side in order, it’s time to determine what you need for a home. Considering what features are crucial for your new home-based business, as well as living comfortably. Then, make sure your company won’t be held back if it expands over time.
Then, you can launch your home search. Once you find a property, closing generally takes 30 to 45 days. Luckily, you can use that time to plan for your move and prepare to get your business going.
If you want to have a successful move, start planning as soon as possible. That way, you aren’t pressed for time and can prepare for the financial aspects of moving.
Full-service movers offer you the most convenience. They’ll take care of moving supplies, packing, transporting, and everything else, giving you more time to focus on your business and home search. However, this option usually costs around $550 to $7,500, and some people could pay over $10,000.
For a cross-country DIY move, $500 to $1,800 range is more likely though that’ll depend on the truck’s size. In most cases, you’ll want to start gathering boxes and packing immediately. Start with non-essentials and work your way toward items you use every day. That way, you can break up the workload over time.
Starting Your Business
Whether you can launch your business before your move depends on where you live now. Waiting to form your LLC is your best bet if you’re in a state other than California. Otherwise, you’ll have to transition the company after you relocate, and that’s a cumbersome process.
However, if you live in California already, you could lay the groundwork for your company. You can file for your LLC, get your EIN, prepare for California business taxes, and more. Just make sure you update your records once you have your new Calabasas address and get any local licenses or permits if you need them.
As you get ready to launch your company, it’s also incredibly smart to take some time to sharpen your business skills. By going back to school, you will have a chance to develop your business acumen. Whether you choose business management, marketing, or management and leadership program, you’re giving yourself access to tools that can propel you toward success. Consider where your personal skill gaps are and use that as a guide, allowing you to pick a path that’s best for you.